NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA OR JAPAN.

Groupe Bruxelles Lambert launches an approximately € 450 million Offering of Exchangeable Bonds into
GBL Treasury Shares

Groupe Bruxelles Lambert (“GBL”) announces the launch today of an approximately € 450
million offering of Exchangeable Bonds due 2012 to be issued by a group subsidiary and fully
guaranteed by GBL. The Bonds will be initially exchangeable into 5,000,000 existing GBL
treasury shares. The coupon is expected to be between 2.75% and 3.00% and the Bonds will be
redeemed at par on 27 April 2012 (7 years). The conversion premium is expected to be
between 23% and 28% over the share reference price. The Bonds will be callable from 11 May
2008 subject to a 130% hurdle. The settlement date is expected to be on or around 27 April
2005.

The institutional book-building period will commence upon issue of this press release and is
expected to end by close of business today. However, the Joint Bookrunners reserve the right
to end the book-building period at an earlier time. The final terms and conditions will be
determined and announced after closing of the institutional book-building period.

GBL intends to use the net proceeds from the offering for general corporate purposes, taking
advantage of attractive market conditions prevailing currently on the equity-linked market.

The Bonds are expected to be listed on the Luxembourg Stock Exchange. The Bonds will be
placed with institutional investors only outside the United States (in reliance on Regulation S
and will not be Rule 144A eligible), Canada and Japan.

BNP Paribas and UBS Investment Bank are acting as Joint Lead Managers and Joint
Bookrunners of the Offering (the “Joint Bookrunners”).

STABILISATION/FSA
THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING IN BELGIUM OR IN
ANY OTHER JURISDICTION NOR AN INVITATION TO THE PUBLIC IN ANY JURISDICTION IN CONNECTION WITH ANY OFFERING.
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TERRITORIES AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA). THIS PRESS RELEASE
DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER OR SOLICITATION TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE
UNITED STATES. THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF U.S. PERSON, EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT. NO PUBLIC OFFERING OF NOTES WILL TAKE PLACE IN THE UNITED STATES.
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THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN COUNTRIES MAY CONSTITUTE A BREACH OF APPLICABLE LAW. THIS
DOCUMENT SHOULD NOT BE RELEASED IN THE UNITED STATES, CANADA OR JAPAN. THE INFORMATION CONTAINED IN THIS
DOCUMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, CANADA OR JAPAN.