The Board of Directors of Veolia Environnement, which met on 7 January 2009, was made aware of the consolidated version of the AFEP-MEDEF corporate governance code dated December 2008 which deals with such matters as the remuneration of the senior officers and directors of listed companies. Confirming that this code fits in with the Group’s corporate governance policy, Veolia Environnement has been complying with its guidelines ever since. The annual report for 2008 was thus drawn up in keeping with the AFEP-MEDEF code.