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Message from the Chairman

In 2008 as in every year, we were very keen to keep our commitments: to our customers, the public and industrial authorities, who grant us their trust and have the right to demand that we give the best of ourselves on an ongoing basis; to our shareholders, who are partners in a project whose ambition, rigor and transparency we must guarantee; and to all Group employees, thanks to whom Veolia Environnement is the world’s leading environmental services group, setting the standard in its field.

In one year, the Group’s turnover rose by 13,4% to €36,2billion.

Water, waste collection and processing, energy, and transportation: Veolia Environnement’s expertise protects the environment and satisfies basic human needs with a complete range of solutions. Born in an era of industrialization and urbanization, our Group has kept pace with our societies every step of the way as they have transformed themselves over 150 years. Today, the group is eager to stay one step ahead by developing solutions for the problems of tomorrow: Which technologies, which organizational and partnership methods, what types of technical and human resources will we need in 10 years to meet the challenges of a planet occupied by 8 billion souls, 50% of them urban dwellers? By asking ourselves these questions in addition to fulfilling our daily contractual duties we take on the role of setting world standards in our industries – and by answering them, we will remain the leader.

We have many assets to help us with this mission: technical and human-resources expertise tested by experience; an active policy of research and development; and an ongoing daily commitment to our customers. Our strength also lies in the commercial and management projects we have carried out, in the loyalty of our customers, in our ability to design outsourcing solutions appropriate to the specific characteristics of each region, and in the intelligent management of our international development. These results can also be attributed to rigorous management. In 2006, the efficiency plan announced in 2003 achieved the objective of with €406 million in recurring positive impact on income in 3 years.

These results will allow us to pay our annual dividend : on 7 May the Board of Directors will propose a dividend by 1,21€ per share, in VE shares or cash.

Finally, I would like to salute the skill and spirit of service so amply demonstrated by our 336,000 employees. Veolia Environnement’s growth and future depends on their daily commitment and their constant efforts to anticipate needs. Commitment, anticipation, adaptability and synergies are the basis for Veolia Environnement’s performance. The adding of Veolia’s name to every division – Water, Waste Management, Energy Services and Transport – underscores this common vision to which we are all committed.

Henri Proglio
Chairman of the Board of Directors