At their General Meeting today in Moscow, Starsem shareholders (EADS, the
Russian Space Agency, the Samara Space Center and Arianespace) approved the
2001 financial results and confirmed their determination to further build on
the success of the European-Russian launch services company.

This General Meeting followed a session of Starsem’s Board of Directors,
which elected Jean-Marie Luton as the company’s Chairman and CEO. Mr. Luton
will assume the management function in addition to his role as Chairman of
Arianespace.

The Board acknowledged the benefits brought to Starsem by Mr. Luton, who has
extensive experience with issues that are key to defining the strategic
orientation for the future of space cooperation between Europe and Russia.

Furthermore, Mr. Victor Nikolaev was renewed in his position as Chief
Operating Officer of the Company.

Encl. : Mr. Luton’s biography

Jean-Marie Luton

Jean-Marie Luton was born on August 4, 1942, in Chamalières, near
Clermont-Ferrand in Central France. After graduating from the prestigious
Ecole Polytechnique in 1961 with an engineering degree, he joined the
Aeronomy Department of the French National Scientific Research Organization,
CNRS (Centre National de la Recherche Scientifique). He was named Special
Research Advisor at CNES in 1971, the same year he was detached to the
Ministry of Industrial and Scientific Development, where he participated in
the European negotiations that led to the creation of the European Space
Agency, ESA.

Jean-Marie Luton joined the French Space Agency, CNES (Centre National
d’Etudes Spatiales) in 1974 as Head of the Research Program Division. In
1975 he became Head of the Planning and Development Division, then Program
Director in 1978. Mr. Luton was named Assistant Director General in 1984, in
charge of relations with governmental authorities, relations between CNES
and its subsidiaries, and financial planning.

As CNES delegate to the European Space Agency Council, he served as Chairman
of the Administrative and Finance Committee, as well as representing CNES on
the Arianespace Board of Directors.

In May 1987, Jean-Marie Luton joined the French firm Aerospatiale as
Director of Space Programs in the Strategic and Space Systems Division.

He was named Director General of CNES in February 1989, and Director General
of the European Space Agency in October 1990.

Jean-Marie LUTON has been appointed Chairman and CEO of Arianespace,
effective July 1st 1997. On June 7, 2002, he is appointed Chairman of the
Board of the company.

Mr. Luton is an Officier of the Legion of Honor and Commander of the
National Order of Merit. He is also a member of the International Academy
of Astronautics (IAA) and the Association Aéronautique et Astronautique de
France (AAAF), which awarded Mr. Luton its Astronautics Prize in 1985.

For further information,
please contact
Claire COULBEAUX
+ 33 (0) 1 56 80 06 60
communication@starsem.com
www.starsem.com