Eurotunnel PLC/Eurotunnel S.A. 17 February 2006 EMBARGO: Not for release before 1640 hours (UK time) on Friday, 17 February 2006 Eurotunnel receives creditor agreement for a second waiver Eurotunnel will now present the financial restructuring framework agreed with the Ad Hoc Committee to other creditors A new period of waiver to the Credit Agreements which link the Group to its creditors has rapidly been agreed, with a very high percentage of favourable votes: 100% from the senior creditors and 91.32% from the co-financiers. This new waiver period will last until the end of March 2006. It will allow Eurotunnel to present the financial restructuring framework, agreed by the Group and the Ad Hoc Committee on 31 January 2006, to the other creditors, provided that they sign a confidentiality agreement to preclude them from any trading in the debt or equity of Eurotunnel. The creditors must weigh the interest of taking this plan into consideration, given the often underlined significance of the Group's contractual commitments in early 2007, when the first major repayments of the debt principal become due. This prospect, in the 12 months to come, has led the Group's auditors to initiate, as they are obliged by law, the first stage of the process of issuing a warning regarding Eurotunnel's viability as a going concern. Eurotunnel stated that, in the absence of a consensual debt restructuring, the Group would, in accordance with the legislation in force, invoke the provisions of the Credit Agreements and the Concession. Eurotunnel considers that having recourse to these would not be more favourable for the subordinated debt holders than the proposed restructuring. N degrees 964/2006 For media enquiries contact John Keefe on + 44 (0) 1303 284491. Email: John.keefe@eurotunnel.com For investor enquiries contact Xavier Clement on + 33 1 55 27 36 27. Email: xavier.clement@eurotunnel.com www.eurotunnel.com Eurotunnel manages the infrastructure of the Channel Tunnel and operates accompanied truck shuttle and passenger shuttle (car and coach) services between Folkestone, UK and Calais, France. Eurotunnel also earns toll revenue from train operators (Eurostar for rail passengers, and EWS and SNCF for rail freight) which use the Tunnel. Eurotunnel is quoted in London, Paris and Brussels. This information is provided by RNS The company news service from the London Stock Exchange