3i led syndicate invests 7m in PriceMinister expansion

Nicolas Dufourcq, Eric Archambeau and Jean-David Chamboredon join the PriceMinister board of directors to assist with expansion plans

3i, Europe''s leading venture capital firm, today announces a 3i-led investment in PriceMinister, France''s leading online marketplace e-commerce service, alongside a syndicate comprising 3i, Quilvest and private investors.

This new money will allow PriceMinister to:

· Expand outside France, mainly via the launch of offices in Spain and Italy in 2005

· Foster its development within France with the launch of initiatives including the « car category » in April 2005, aiming to become the market''s leading e-commerce player in France by 2007

In addition, PriceMinister''s board of directors welcomes Nicolas Dufourcq, former CEO of Wanadoo and current CFO of Capgemini, Eric Archambeau, experienced entrepreneur and Silicon Valley technology investor and Jean-David Chamboredon, 3i director and Head of 3i''s French Venture Capital team.

Pierre Kosciusko-Morizet, co-founder and CEO of PriceMinister, said : « We are very pleased with this investment and the strengthening of our board. With the expertise and talent offered by them, we are able to put our ambitions more rapidly into action, aiming to become one of Europe''s e-commerce leaders via expansion of our multi-specialist e-commerce service in Spain and Italy.».

Jean-David Chamboredon, 3i director, added : « PriceMinister has had some outstanding achievements since its creation. Thanks to a pure Internet business model, they are now at the epicentre of a growing community of users who sell and buy at the best price in total confidence and security. This presents a win-win-win proposition for the buyer, the seller and PriceMinister.»

PriceMinister expects to see a continued triple digit rate of growth over the next 2 years and envisages becoming an IPO candidate in the future.