PR Newswire/Les Echos/

French limited company (société anonyme) with a capital of 106,384,752 euros
Registered office: 60, avenue du Capitaine Resplandy - 64100 Bayonne - France
             Bayonne trade and company register: 780 130 118

                     DESCRIPTION OF THE SHARE BUYBACK PROGRAM

As provided for under Article 241-2 of the AMF's general regulations and
European Regulation 2273/2003 of December 22nd, 2003, this description sets out
to describe the aims and conditions of the program for the company to buy back
its own shares. This program was submitted for approval at the general meeting
on May 20th, 2010.

1/ - Breakdown of capital securities held by objective at August 15th, 2010:

Number of securities held directly and indirectly: NA.

Number of securities held, with a breakdown for each objective:
•  External growth operations: NA
•  Cancellation: NA

The company does not use derivative products.

2/- New share buyback program
•  Program authorized: General meeting on May 20th, 2010
•  Securities concerned: Ordinary shares
•  Maximum percentage of the capital that may be bought back: 5% of the capital
   (i.e. 332,452 shares on this date), it being understood that this cap is
   assessed on the date of the buybacks in order to take into consideration any
   operations to increase or reduce the capital that may occur during the term 
   of the program. Since no shares are currently held, the maximum number of 
   shares that may be purchased will be 332,452.
•  Maximum purchase price: 90 euros
•  Maximum program amount: 29,920,680 euros
•  Buyback conditions: Purchases, sales and transfers may be carried out by any
   means on the market or on an over-the-counter basis, including operations on
   blocks of securities, it being understood that the resolution submitted for
   approval by the shareholders does not limit the percentage of the program 
   that may be carried out by buying blocks of securities.
   These operations may notably be carried out during a public offering period, 
   in accordance with the regulations in force.
  
• Objectives:
  - Cancelling any shares acquired as authorized by the general shareholders'
    meeting on May 20th, 2009 in its ninth extraordinary resolution.
  - Keeping the shares acquired and issuing them again subsequently in exchange
    or as payment for external growth operations, it being understood that 
    shares acquired in this way may not exceed 5% of the company's capital,

•  Program term: 18 months as of the general meeting on May 20th, 2010, i.e.
   through to October 19th, 2011.

The present publication is available on the company site
(www.guyenneetgascogne.com).

The Guyenne et Gascogne Group's financial information is available on the
company's site at: www.guyenneetgascogne.com

Press contact:
Calyptus - Marie-Anne Garigue    Guyenne et Gascogne contact: Marc Léguillette
Tel : 01 53 65 68 63 -           Tel : 05 59 44 55 00 -
Fax : 01 53 65 68 60             Fax : 05 59 44 55 77
marie-anne.garigue@calyptus.net  marc.leguillette@guyenneetgascogne.fr
                          ISIN: FR0000120289
                      
The content and accuracy of news releases published on this site and/or 
distributed by PR Newswire or its partners are the sole responsibility of the 
originating company or organisation. Whilst every effort is made to ensure the 
accuracy of our services, such releases are not actively monitored or reviewed 
by PR Newswire or its partners and under no circumstances shall PR Newswire or 
its partners be liable for any loss or damage resulting from the use of such 
information. All information should be checked prior to publication.