Communiqué de presse

PRESS RELEASE

Announcement of the construction of a new Club Med Village in Senegal

From left to right: Mr Henri Giscard d'Estaing, Chairman and Chief Executive Officer of Club Méditerranée

His Excellency, Mr Mahammed Boun Abdallah Dionne, Prime Minister, Mr Amadou Loum Diagne, Chairman of Vacap

Mr Thierno Seydou Niane, Managing Director of Caisse des Dépôts et Consignations du Sénégal

Mr Amadou Hott, Managing Director of Fonds Souverain d'Investissements Stratégiques

Paris, 25th August 2015 - During a visit to Dakar in the presence of Mr Mahammed Boun Abdallah Dionne, Prime Minister of Senegal and Mr Jean-Félix Paganon, the French Ambassador to Senegal, Henri Giscard d'Estaing, Chairman and Chief Executive Officer of Club Méditerranée, signed an agreement on Friday 21 August relating to Saraba Village, a new Club Med development project in Senegal.

During an interview following this signing, His Excellency Mr Macky Sall, President of the Republic of Senegal, confirmed the importance of this tourism development.
The project involves the construction of a 4-Trident Village with a 5-Trident Luxury Space with 358 rooms and suites (860 beds), on a 25-hectare plot of land in Nianing, located 90 km from Dakar, on the Petite Côte. The opening is scheduled in 2017.
The village of Saraba, a family-oriented resort, will be open all year round and will offer clubs for children and teenagers aged four and over.
Senegal is a perfect sunshine destination, close to the European markets.
The launch of this resort forms part of the politic introduced by the new Senegalese government, which seeks to focus the company's economic development on tourism with the aim of making Senegal a reputed international destination.

Significant economic and social impact

The village of Saraba will create more than 1,000 jobs, including 400 direct jobs.
It will welcome around 30,000 customers every year, in addition to the 8,000 customers already welcomed each year at Club Med's Cap Skirring Village in the Casamance region.
Moreover, in the scope of Club Med's corporate social responsibility strategy, a partnership will be studied to develop market gardening business, as is already the case at Cap Skirring Village with the NGO Agrisud.
Lastly, activities relating to transport, airport transfers and discovery will be subcontracted to local partners.
The village of Saraba represents an investment worth €63 million, financed partly by private equity (40%) via an investor pool. Alongside Club Med, which will hold 35%, Vacap (Vacances Cap Skirring SA, owner of Almadies, a former Club Med resort in Senegal) will invest 35%, FONSIS (Fonds Souverain d'Investissements Stratégiques Sénégalais) and CDC (Caisse des Dépôts et Consignations du Sénégal) will equally hold 15%.
The investment by Fonsis and CDC demonstrates the Senegalese government's strong
implication in developing high-end tourism.
Moreover, an extension project for 250 beds at the existing Club Med Cap Skirring
Village is being studied.

About Club Méditerranée

Inventor of the holiday club concept, Club Méditerranée is the world leader in high-end all- inclusive holidays based on French savoir-faire.

Club Med presently operates a total of 66 Villages, two-thirds of which are premium 4T and luxury 5T Villages.

The Group has operations in 26 countries across four continents and employs 12,800 GOs with

100 different nationalities

Club Med has been operating in Senegal since 1973 with its Cap Skirring Village in the

Casamance region.

About Vacap

Vacap SA is a Senegalese company which owns the Almadies hotel complex in Dakar.

About CDC

CDC is a public institution with special status created by Act No. 2006-03 of 4 January 2006, which carries out general interest missions by financing and improving access to financing to

certain priority sectors of the economy.

About Fonsis

Fonds Souverain d'Investissements Stratégiques S.A. is a Senegalese public limited company whose object is to promote the role of the Senegalese government, as an investor, partner and

complement to the private sector, with the aim of supporting direct investments in order to

speed up the country's economic and social development, by creating wealth and employment for current and future generations.

Press contacts

Caroline Bruel - Directrice de la communciation - caroline.bruel@clubmed.com 01 53 35 31 29

Sophie Reinach - Attachée de presse - sophie.reinach@clubmed.com - 01 53 35 35 87

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