Veolia Environnement's Executive Committee

With a membership consisting of the divisional heads, it makes sure that corporate strategy is implemented in a coherent manner, under the chairmanship of Antoine Frérot.

In addition, the General Secretary regularly holds meetings with the main functional department managers.
The Executive Committee is also supported by a series of specialized bodies working on critical, major cross-divisional issues.

The Disclosure Committee is responsible for the collection and compilation of information, in particular fi nancial information, submitted to the French and American stock market authorities. It met twice in 2007.
In June, it revised the process for drafting the 2006 US Form 20-F and validated it.
In December, it reviewed regulatory changes liable to aff ect the communication and publication of information aimed at the markets and initiated work on gathering information and drafting the 2007 annual reports.

At its four meetings in 2007, the Risk Management Committee reviewed the deployment of specifi c action plans to address material operating risks such as: ensuring the reliability and security of information systems, crisis communication within the company, the integration and management of human skills in the company, business continuity plans, the detection and prevention of the risk of fraud, and the deployment of the company's insurance policy.

The Ethics Committee, set up in 2004, considers all issues connected with the Ethics, Belief and Responsibility program launched in 2003.
This program is a fullscale corporate project intended to guide the daily conduct of company employees in each of the 68 countries in which it operates. The program expresses the fundamental values of Veolia Environnement such as respect for human rights, strict compliance with national laws, fair treatment of clients and consumers, commitment to sustainable development, and solidarity. This committee has a duty of independence and confi dentiality, and all employees can refer any ethicsrelated question to it, or the committee may take up issues itself.