APC 2003 Annual Report Download - page 135

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133
2. Auditors'
Special Reports
Auditors' special report on
regulated agreements
Year ended December 31, 2003
To the Shareholders,
In our capacity as Statutory Auditors of Schneider
Electric SA, we present below our report on agree-
ments involving directors.
Our responsibility does not include identifying any
undisclosed agreements. We are required to report
to Shareholders, based on the information provided,
about the main terms and conditions of agreements
that have been disclosed to us, without commenting
on their relevance or substance. Under the provi-
sions of article 92 of the March 23, 1967 decree, it is
the responsibility of Shareholders to determine
whether the agreements are appropriate and should
be approved.
Agreements signed during the year
We were not informed of any new agreements
signed during the year that would be governed by
article 225-38 of the Commercial Code.
Agreements entered into in prior years
In application of the decree of March 23, 1967, we
were advised of the following agreement entered into
in prior years, which remained in force during the
year.
With the authorization of the Board of Directors given
on June 27, 1995, a management agreement was
signed between Schneider SA and Spie Batignolles
(renamed Amec Spie SA) covering the administrative
and legal management of contract disputes that
remained at the level of Schneider Electric SA at the
time of the merger.
In 2003, Schneider Electric paid Amec Spie SA
€100,000 (excluding VAT) pursuant to this agree-
ment.
We carried out our work in accordance with the pro-
fessional standards applied in France. Those stan-
dards require that we perform procedures to verify
that the information given to us agrees with the
underlying documents.
Paris and Neuilly-sur-Seine, February 19, 2004
The Statutory Auditors
PricewaterhouseCoopers Audit Barbier Frinault et Autres / Ernst & Young
Anne Monteil Christian Chochon / Pierre Jouanne