Bouyges Offshore S.A.

Ticker: BWG		3, rue Stephenson
Exchange: New York Stock Exchange		Montigny-le-Bretonneux, Foreign 78180
Industry: Natural Resources

Type of Shares:	American Depositary Receipts	Filing Date:	10/10/96
U.S. Shares:	4,080,000	Offer Date:	11/6/96
Non-U.S. Shares:	2,720,000	Filing Range:	$10.75 - $12.75
Primary Shares:	0	Offer Price:	$12.38
Secondary Shares:	6,800,000	Gross Spread:	$0.74
Offering Amount:	$79,900,000	Selling:	$0.40
Expenses:	$1,877,482	Reallowance:	$0.10
Shares Out After:	17,000,000

Manager	Tier	Phone
Lehman Brothers Incorporated	Lead Manager	(212) 640-6129
Credit Lyonnais Securities (USA) Inc.	Co-manager
Prudential Securities Incorporated	Co-manager	(212) 214-3000
Simmons & Company	Co-manager	(713) 223-7840

Auditor: Arthur Andersen
	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet
	12/31/95	6/30/96			6/30/96
Revenue:	$638.90	$351.00		Assets:	$695.00
Net Income:	$33.10	$26.00		Liabilities:	$577.80
EPS:	$1.94	$1.53		Equity:	$117.20
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

The company is a leading contractor serving the oil and gas industry with extensive experience and technological expertise in providing integrated solutions for the design, construction, installation and management of offshore oil and gas projects. The company also provides maintenance services, principally to oil refineries, petrochemical facilities and offshore platforms, engages in high-end maritime and river related civil works projects and designs and constructs liquefied natural gas import terminals as well as storage tanks for LNG and other types of liquefied gases.

Use of Proceeds

The proceeds from the proposed offering will be distributed to selling shareholders.

Last updated: 11/27/96