SUEZ ADS (SZE)

B. Liquidity and Capital Resources

The following table sets forth certain cash flow items for 2004 through 2005:

We believe that our cash flow from operating activities (€5,826 million in 2005), authorized credit facilities and commercial paper backup lines (€7,145 million as of December 31, 2005) and our cash and marketable securities positions (€11,260 million as of December 31, 2005) will be sufficient to cover our current and anticipated liquidity requirements for the next 12 months. However, we may decide to borrow additional amounts from banks or to issue new debt securities to investors to maintain our level of unused available credit lines.

B. Liquidity and Capital Resources

The following table sets forth certain cash flow items for 2004 through 2005:

We believe that our cash flow from operating activities (€5,826 million in 2005), authorized credit facilities and commercial paper backup lines (€7,145 million as of December 31, 2005) and our cash and marketable securities positions (€11,260 million as of December 31, 2005) will be sufficient to cover our current and anticipated liquidity requirements for the next 12 months. However, we may decide to borrow additional amounts from banks or to issue new debt securities to investors to maintain our level of unused available credit lines.

Liquidity and Capital Resources

The following table sets forth certain cash flow items for 2002 through 2004:

We believe that our cash flow from operating activities (€4,377 million in 2004), authorized credit facilities and commercial paper backup lines (€6,104 million as of December 31, 2004) and our cash and marketable securities positions (€8,557 million as of December 31, 2004) will be sufficient to cover our current and anticipated liquidity requirements for the next 12 months. However, we may decide to borrow additional amounts from banks or to issue new debt securities to investors to maintain our level of unused available credit lines.

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