Bayonne, August 31st, 2011

2011 first-half earnings

In thousand euros

H1 2011

H1 2010

2010 (full year)

GUYENNE ET GASCOGNE Consolidated accounts

Sales (excl. VAT)

Current operating income

Share of Sogara income

Share of Centros Comerciales

Carrefour income

255,621

1,352

-3,949

2,174

244,866

673

4,013

2,539

532,276

10,403

12,110

7,761

Net income (Group share)

-1,335

6,382

25,635

Guyenne et Gascogne parent company

Sales (excl. VAT) EBIT

Sogara dividend

Net income

255,621

329

27,219

26,884

244,866

-630

27,219

25,675

532,276

8,121

27,219

31,037

Sogara

Sales (excl. VAT)

Current operating income

Net income

654,501

-2,476

-7,898

654,545

8,289

8,026

1,387,075

32,379

24,222

Centros Comerciales

Carrefour (Spain)

Sales (excl. VAT)

Current operating income

Net income

3,995,820

142,375

52,828

4,098,974

162,537

61,692

8,650,314

431,134

188,565

The figures for consolidated sales (excluding VAT) and current operating income correspond to the parent company alone, with the

Sogara and Centros Comerciales Carrefour subsidiaries consolidated on an equity basis for 50% and 4.1% respectively.

The parent company's accounts are presented under French GAAP, while the accounts for Sogara and Centros Comerciales

Carrefour are presented under IFRS.

HIGHLIGHTS