information on debt

The weighted average cost of net financial debt in 2007 was 6.46% compared to 5.91% a year ago. The weighted average cost of net financial debt is calculated as the ratio of interest expenses, net, less exceptional and non recurring items, to the average outstanding amount, calculated based on net fi nancial debt adjusted for the amounts that do not give rise to interest, such as accrued interest payable and liabilities related to commitments to purchase minority interests.

It is worth noting that the group France Telecom, which committed itself to reach a net debt / GOM ratio below 2 times in 2008, reached its objective with one year in advance considering that the ratio was 1.99x at the end of 2007.