As the companies announced on Monday, the merger of the Franco-British joint venture Matra Marconi Space (MMS) with Dasa's space activities will create one of the world's leading space companies. Once the European Commission has given its approval, Astrium is expected to be formally created at the beginning of the year 2000.

With over 8,000 employees and annual revenues of $2.25 billion, Astrium will be by far the largest space company in Europe. Its main acitivities will be in the fields of earth observation, telecommunications, science, launchers and orbital infrastructure. Its business will be commercial and governmental, for civil and military applications.

This company will welcome Alenia Spazio from Italy's Finmeccanica as a partner within a few months, further strengthening the Astrium Group.

The Astrium partners will build on 30 years of successful cooperation and joint programs. Astrium represents a combination of strong, private sector partners with solid financial backgrounds and excellent growth prospects.

The company's size and strength will ensure its success in global competition. It will offer customers value for money and thus the most effective use of the limited European space budgets. The company is committed to the principle of partnership between its shareholders on an equal footing and is dedicated to achieve profitable growth.

The Board of Management of Astrium will consist of four members, each having equal rights :

• Armand Carlier, Chairman of the Management Board and CEO
• Klaus Ensslin, Head of the Earth Observation and Science Business Division
• Nick Franks, Head of the Telecommunication Business Division
• Josef Kind, Head of the Launcher and Space Infrastructure Business Division

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Oxford - October 18, 1999 - Time seems to be the most powerful force, an irresistible river carrying us from birth to death. To most people it is an inescapable part of life, a fundamental element of the Universe.