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					                                                                                           April 14th, 2005




                                  Q1 2005 TURNOVER:
                               back on track for growth

GROSS SALES                                           Q1 2005                  Q1 2004             Change
In million euros

Parent company                                        112.4                    111.3               + 0.9%

Sogara                                                377.7                    372.2               + 1.5%

Centros Comerciales Carrefour (Spain)
    Hypermarkets                                   1 928.0                  1 777.0                + 8.5%
    Supermarkets                                     203.0                    240.0               - 15.3%


     In line with the changeover to IFRS, the presentation of the Guyenne et Gascogne Group’s
     financial statements needs to be modified. The phasing out of the proportionate consolidation
     method leads to the 50% interest in the Sogara subsidiary being consolidated on an equity
     basis, with the same change also affecting Centros Comerciales Carrefour. As such,
     consolidated sales under IFRS become that of the parent company: €112.4 million (+0.9%).

Sales in Q1 reflect the fact that all three divisions are trending up.
The parent company’s sales are up 0.9% compared with a 0.2% fall in Q4 2004.
This favorable trend is particularly marked at Sogara (+1.5%), with the efforts made on the pricing
policy in 2004 starting to bear fruit.
Centros Comerciales Carrefour has continued to see strong growth in business, with hypermarkets
up 8.5% (5.2% on a comparable basis). Supermarkets, which represent less than 10% of Carrefour
Spain’s sales, are undergoing an in-depth review. A new store concept is being looked into while the
store base is being restructured, with certain large Champion supermarkets to take the Carrefour
brand.


   Guyenne et Gascogne’s annual general meeting will be held at 3 pm on Tuesday May 24th, 2005
                     at Hôtel Mercure, avenue Jean Rostand, Bayonne (France).
 Notice of the meeting will be published in the French official gazette (Bulletin des Annonces Légales)
                                     on Wednesday April 20th, 2005
  The Guyenne et Gascogne Group’s financial information is available on the company’s web site at:
                                 www.guyenneetgascogne.com
 Press contact: Calyptus – Isabelle Priaulet          Guyenne et Gascogne contact: Marc Léguillette
 Tel: +33 1 53 65 68 63 - Fax: +33 1 53 65 68 60       Tel: +33 5 59 44 55 00 - Fax: +33 5 59 44 55 19
        isa.priaulet@calyptus.net                        marc.leguillette@guyenneetgascogne.fr

                                         ISIN code: FR0000120289

				
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