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Transactions carried out as part of a share buyback program and outside a liquidity contract

Paris, June 30, 2011

Transactions carried out as part of a share buyback program and outside a liquidity contract

With a view to sharing the benefits of the Conquests 2015 strategic plan in an equitable manner with the Group's employees, France Telecom’s Board of Directors endorsed on May 23, 2011 the principle of a plan to grant them free France Telecom shares (FR0000133308 – FTE), subject to the fulfillment of a number of conditions.

In order to prepare for this plan, the over-the-counter forward purchase of shares set-out below has been conducted:



Press contacts: +33 1 44 44 93 93
Tom Wright, tom.wright@orange-ftgroup.com
Olivier Emberger, olivier.emberger@orange-ftgroup.com

About Orange
France Telecom-Orange is one of the world’s leading telecommunications operators with 171,000 employees worldwide, including 105,000 employees in France, and sales of 10.9 billion euros in the first three months of 2012. Present in 33 countries, the Group had a customer base of 225 million customers at 31 March 2012, including 181 million customers under the Orange brand, the Group's single brand for internet, television and mobile services in the majority of countries where the company operates. At 31 March 2012, the Group had 166 million mobile customers and 15 million broadband internet (ADSL, fibre) customers worldwide. Orange is one of the main European operators for mobile and broadband internet services and, under the brand Orange Business Services, is one of the world leaders in providing telecommunication services to multinational companies.

With its industrial project, "conquests 2015", Orange is simultaneously addressing its employees, customers and shareholders, as well as the society in which the company operates, through a concrete set of action plans. These commitments are expressed through a new vision of human resources for employees; through the deployment of a network infrastructure upon which the Group will build its future growth; through the Group's ambition to offer a superior customer experience thanks in particular to improved quality of service; and through the acceleration of international development.

France Telecom (NYSE:FTE) is listed on Euronext Paris (compartment A) and on the New York Stock Exchange.
For more information (on the internet and on your mobile): www.orange.com, www.orange-business.com, www.orange-innovation.tv or to follow us on Twitter: @presseorange.
Orange and any other Orange product or service names included in this material are trade marks of Orange Brand Services Limited, Orange France or France Telecom.



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