Pursuant  to the Belgian Law of May 2, 2007 relating to the publication of major
shareholdings in listed companies, Compagnie du Bois Sauvage s.a. has received a
notificationof  the threshold  of 25% being  crossed by  Sinorail s.a. by owning
23.93% of Compagnie du Bois Sauvage?s voting rights.

Guy Paquot controls Fingaren s.c.a. which controls Entreprises et Chemins de Fer
en  Chine  s.a.  which  controls  Sinorail  s.a.  Together,  they  own 41.44% of
Compagnie du Bois Sauvage?s voting rights.

This   notification  was  also  sent  to  the  Banking,  Finance  and  Insurance
Commission.

The content of this notification is the following:

Situation as at December 22, 2009

Denominator: 1.562.710



 Holders of voting Number of voting Variation   Number of voting    % of voting
 rights                   rights on                    rights on         rights
                           1/9/2008                   22/12/2009

 Guy Paquot                  10.340     + 754             11.094          0,71%

 Fingaren s.c.a.                 67     + 124                191          0,01%

 E.C.F.C. s.a.              259.681   + 2.641            262.322         16,79%

 Sinorail s.a.              414.000  - 40.000            374.000         23,93%

             TOTAL          684.088  - 36.481            647.607         41,44%



These  companies have their registered head office at 1000 Brussels, rue du Bois
Sauvage 17.



[HUG#1370546]