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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><b></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>As filed with the Securities and Exchange Commission on  March 7, 2007<br>
</font></b></p>
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  <div style=" border:none;border-bottom:solid .25em;padding:0in 0in 0pt 0in">
    <div align="right"><font size=2><b>Registration No. 333-_________</b></font><br>
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  </div>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><b></b></p>


<p style=' margin-bottom:0pt; margin-top:12.0pt;text-align:center;'><B><font SIZE=4>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=4>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C.  20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>_________________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>FORM S-8</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>REGISTRATION STATEMENT UNDER</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>THE SECURITIES ACT OF 1933</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>____________________________</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=4>VEOLIA ENVIRONNEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact name of registrant as specified in its charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50%" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>France</font></b></p> </td>
        <td width="23%" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Not Applicable</font></b></p> </td> </tr>
    <tr>
      <td nowrap valign=top >&nbsp;</td>
      <td nowrap valign=top ><font size=2>(State or other jurisdiction of<br>
      incorporation or organization)      </font></td>
      <td nowrap valign=top ><font size=2>(I.R.S. Employer<br>
      Identification No.)      </font></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=3>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>36/38, avenue Kl&#233;ber</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>75116 Paris</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>France</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Address of principal executive offices, including zip code)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>_____________________________</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>2006 Share Subscription Option Plan </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Full title of the plan)</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>T. Michael O'Brien</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Veolia Water North America Operating Services</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>184 Schuman Boulevard</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Naperville, IL 60563</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(630) 717-2236</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>(Name, address and telephone number, including area code, of agent for service)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>1</font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CALCULATION OF REGISTRATION FEE</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse; '>
    <tr>
        <td width="24%" valign=top style='border:solid black .75pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Title of</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Securities to be</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Registered</font></p> </td>
        <td width="19%" valign=top style='border:solid black .75pt; border-left:none'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Amount</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>to be</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Registered (1)</font></p> </td>
        <td width="18%" valign=top style='border:solid black .75pt; border-left:none'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Proposed Maximum</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Offering Price Per</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Share</font></p> </td>
        <td width="20%" valign=top style='border:solid black .75pt; border-left:none'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Proposed Maximum</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Aggregate</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Offering Price</font></p> </td>
        <td width="17%" valign=top style='border:solid black .75pt; border-left:none'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Amount of</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Registration</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:113.4%'><font size=2>Fee</font></p> </td> </tr>
    <tr>
        <td width="24%" valign=top style='border:solid black .75pt; border-top:none'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Ordinary Shares, nominal value &#128;5.00 per share</font></p> </td>
        <td width="19%" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>265,900 (2)</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="18%" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>$58.60 (3)</font></p> </td>
        <td width="20%" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>$15,581,773.24  (3)</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="17%" valign=top style='border-top:none;border-left: none;border-bottom:solid black .75pt;border-right:solid black .75pt;  '>
            <p style='margin-left:.9pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>$478.36</font></p>
<p style='margin-left:.9pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr>
        <td width="5%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(1)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>This registration statement on Form S-8 (this "</font><i><font size=2>Registration Statement</font></i><font size=2>") shall also cover any additional ordinary shares, nominal value &#128;5.00 per share (the "</font><i><font size=2>Ordinary Shares</font></i><font size=2>"), of Veolia Environnement (the "</font><i><font size=2>Registrant</font></i><font size=2>") which become issuable under any of the Registrant's plans registered pursuant to this Registration Statement by reason of any stock dividend, stock split, recapitalization or any other similar transaction or similar transaction effected without the receipt of consideration which results in an increase in the number of the Registrant's outstanding Ordinary Shares.  </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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    <tr>
        <td width="5%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(2)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Represents 265,900 Ordinary Shares subject to outstanding awards under the 2006 Share Purchase Option Plan.</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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        <td width="5%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(3)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pursuant to Rule 457(h) under the Securities Act, the Proposed Maximum Offering Price Per Share and the Proposed Maximum Aggregate Offering Price are based on the per share exercise price of the stock options, translated into U.S. dollars at the noon buying rate in New York City on March 5, 2007, for cable transfers in Euros as certified for customs purposes by the Federal Reserve Bank of New York on that date.</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-2.62%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'>&nbsp;</p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>2</font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>PART I</font></B></p>

<p style=' margin-bottom:24pt; margin-top:0pt;text-align:center;'><b><font size=2>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</font></b></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 1.</font></B></p> </td>
        <td width="60%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Plan Information.</font></b><font size=2><sup>*</sup></font></p> </td> </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><B><font SIZE=2>ITEM 2.</font></B></td>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><b><font size=2>Registrant Information and Employee Annual Information.<sup>*</sup></font></b></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>_________________________</font></p>
<sup>&nbsp;</sup>


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        <td width="5%" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2><sup>*&nbsp;</sup></font></p> </td>
        <td  valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act and the "Note" to Part I of Form S-8.</font></p> </td> </tr></table>
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<sup>&nbsp;</sup>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1> </font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>3</font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>PART II</font></B></p>

<p style=' margin-bottom:24pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>INFORMATION NOT REQUIRED IN PROSPECTUS</font></B></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 3.</font></B></p> </td>
        <td width="76%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Incorporation of Documents by Reference.</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:left;'><font size=2>The following documents previously filed with the Securities and Exchange Commission (the "</font><I><font SIZE=2>SEC</font></I><font size=2>") by the Registrant are incorporated by reference in this Registration Statement:</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>the Registrant's Annual Report on Form 20-F (No. 001-15248), as filed with the SEC on June 29, 2006 (the "</font><i><font size=2>Annual Report on Form 20-F</font></i><font size=2>"), pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "</font><i><font size=2>Exchange Act</font></i><font size=2>"), which contains audited financial statements for the Registrant's latest financial year for which such statements have been filed; </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:left;'><font size=2>(b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>the description of the Registrant's Ordinary Shares set forth in Item 10 in the Registrant's Annual Report on Form 20-F with the exception of the sections captioned "Exchange Controls", "Taxation", "Documents on Display", "Enforceability Of Civil Liabilities Against Foreign Persons" and "Statement on Corporate Governance as Required by Section 303a.11 of the New York Stock Exchange&#146;s Listed Company Manual"; and</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:left;'><font size=2>(c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>the Registrant's reports on Form 6-K (File No. 001-15248), as furnished to the SEC on February 3, March 8, March 14, March 21, April 11, April 13, April 28, May&nbsp;15, May 17, May 30, June 2, June 16, June 19, June 20, June 26, July 5, July 28, July 31, August 2, September 18, September 25, October 13, November 8 and November 22, 2006 and January 18, January 24, January 30, February 5 and February 7, 2007.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:left;'><font size=2>All reports and documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities remaining unsold, shall be deemed to be a part hereof</font><b><font size=2> </font></b><font size=2>from the date of filing such documents.  In addition, reports on Form 6-K deemed filed by the Registrant with the SEC shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof</font><b><font size=2> </font></b><font size=2>from the date such documents are filed with the SEC.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:left;'><font size=2>Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement incorporated by reference herein modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:7.69%; text-indent:7.69%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>4</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 4.</font></B></p> </td>
        <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Description of Securities.</font></b></p> </td> </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>&nbsp;</td>
      <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '><font size=2>Not applicable.</font></td>
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    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><B><font SIZE=2>ITEM 5.</font></B></td>
      <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '><b><font size=2>Interests of Named Experts and Counsel.</font></b></td>
    </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>&nbsp;</td>
      <td valign=top style='padding:0in 0in 12.0pt 0in; '><font size=2>The legality of the Ordinary Shares offered hereby has been passed upon for the Registrant by Mr. Alain Tchernonog, General Counsel of the Registrant, who owns 115 Ordinary Shares and has options to purchase 90,030 Ordinary Shares.</font></td>
    </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><B><font SIZE=2>ITEM 6.</font></B></td>
      <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '><b><font size=2>Indemnification of Directors and Officers.</font></b></td>
    </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>&nbsp;</td>
      <td valign=top style='padding:0in 0in 12.0pt 0in; '><font size=2>The Registrant maintains liability insurance for its directors and officers, including insurance against liabilities under the Securities Act.</font></td>
    </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><B><font SIZE=2>ITEM 7.</font></B></td>
      <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '><b><font size=2>Exemption from Registration Claimed.</font></b></td>
    </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>&nbsp;</td>
      <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '><font size=2>Not applicable.</font></td>
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    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '><B><font SIZE=2>ITEM 8.</font></B></td>
      <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '><b><font size=2>Exhibits.</font></b></td>
    </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>&nbsp;</td>
      <td valign=top nowrap style='padding:0in 0in 12.0pt 0in; '><font size=2>See attached exhibit list.</font></td>
    </tr>
    <tr>
      <td nowrap valign=top style='padding:0in 0in 0pt 0in; '><B><font SIZE=2>ITEM 9.</font></B></td>
      <td valign=top nowrap style='padding:0in 0in 0pt 0in; '><b><font size=2>Undertakings.</font></b></td>
    </tr>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:14.38%;text-align:left;'><font size=2>(a)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant hereby undertakes:</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:15.38%;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:14.38%;text-align:left;'><font size=2>(1)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:15.38%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:19.08%; text-indent:9.38%;text-align:left;'><font size=2> (i)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To include any prospectus required by Section 10(a)(3) of the Securities Act;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:23.08%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:19.08%; text-indent:9.38%;text-align:left;'><font size=2> (ii)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:23.08%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:19.08%; text-indent:9.38%;text-align:left;'><font size=2> (iii)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in the Registration Statement;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:14.38%;text-align:left;'><font size=2>(2)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </font><i><font size=2>bona fide</font></i><font size=2> offering thereof, and</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:15.38%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>5</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:15.38%;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:14.38%;text-align:left;'><font size=2>(3)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:14.38%;text-align:left;'><font size=2>(b)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial </font><i><font size=2>bona fide</font></i><font size=2> offering thereof.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:14.38%;text-align:left;'><font size=2>(c)</font><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Act</font><b><font size=2> </font></b><font size=2>and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act</font><b><font size=2> </font></b><font size=2>and will be governed by the final adjudication of such issue.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:15.38%;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:15.38%;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:15.38%;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>6</font></p> </td>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Paris, France, on this 6th day of March, 2007.</font></p>

<p style=' margin-bottom:36pt; margin-top:0pt; margin-left:53.85%;text-align:left;'>&nbsp;</p>


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      <td height="66" valign=top nowrap >&nbsp;</td>
      <td colspan="2" valign=top nowrap ><font SIZE=2>VEOLIA ENVIRONNEMENT</font></td>
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        <td width="50%" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td valign=top nowrap >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td valign=top nowrap ><font size=2><u>/s/ Henri Proglio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
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      <td nowrap valign=top ></td>
      <td width="5%" valign=top nowrap ><font size=2>Name:</font></td>
      <td width="45%" valign=top nowrap ><font size=2>Henri Proglio</font></td>
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      <td nowrap valign=top ></td>
      <td valign=top nowrap ><font size=2>Title:</font></td>
      <td valign=top nowrap ><font size=2>Chairman of the Board and CEO</font></td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


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  <p>&nbsp;</p>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>7</font></p> </td>
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<p style=' margin-bottom:0pt; margin-top:0pt; text-align:center;'>
<B><font SIZE=2>POWER OF ATTORNEY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><B><font SIZE=2>KNOW ALL PERSONS BY THESE PRESENTS</font></B><font size=2>, that each person whose signature appears below constitutes and appoints each of Mr. Henri Proglio, Mr. J&#233;r&#244;me Contamine and Mr. Alain Tchernonog his true and lawful attorney-in-fact- and agent, each acting alone, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign and to file a Registration Statement on Form S-8 (or such other Form as may be appropriate) in connection with the registration of Ordinary Shares of the Registrant and any and all amendments (including post-effective amendments) to any such Registration Statement on Form S-8 with the Securities and Exchange Commission, granting to said attorney-in-fact and agent full power and authority to perform any other act on behalf of the undersigned required to be done in the premises.  This
power of attorney may be executed in counterparts.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:15.38%;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Act, this Registration Statement on Form S-8 has been signed by the following persons in the capacities indicated.</font></p>


<div align=left>

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        <td width="33%" valign=top style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:85.0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><u><font size=2>Signature</font></u></p> </td>
        <td width="34%" valign=top style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><u><font size=2>Title</font></u></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:2.25pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><u><font size=2>Date</font></u><u></u></p> </td> </tr>
    <tr valign="top">
        <td width="33%" nowrap style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'> <font size=2><u>/s/ Henri Proglio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Henri Proglio</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Chairman and Chief Executive Officer and Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:2.25pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr>
      <td valign=top nowrap style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td valign=top style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:2.25pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
    </tr>
    <tr valign="top">
        <td width="33%" align="left" nowrap style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Jean Az&#233;ma&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Jean Az&#233;ma</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr>
      <td valign=top nowrap style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td valign=top style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:2.25pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
    </tr>
    <tr valign="top">
        <td width="33%" align="left" nowrap style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Daniel Bouton&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Daniel Bouton</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr>
      <td valign=top nowrap style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td valign=top style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:2.25pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
    </tr>
    <tr valign="top">
        <td width="33%" align="left" nowrap style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Jean-Marc Espalioux&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Jean-Marc Espalioux</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr>
      <td valign=top nowrap style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td valign=top style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:2.25pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
    </tr>
    <tr valign="top">
        <td width="33%" align="left" nowrap style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Jean-Fran&#231;ois Dehecq&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Jean-Fran&#231;ois Dehecq</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr>
      <td valign=top nowrap style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td valign=top style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
      <td style='padding:0in 11.25pt 0in 11.25pt'>
        <p style='margin-left:2.25pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p></td>
    </tr>
    <tr valign="top">
        <td width="33%" align="left" nowrap style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Paul-Louis Girardot&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Paul-Louis Girardot</font><u></u></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
  <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


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        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>8</font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse'>
    <tr>
        <td width="33%" valign=top style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" valign=top style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Philippe Kourilsky&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Philippe Kourilsky</font><u></u></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Serge Michel&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Serge Michel</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Baudouin Prot&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Baudouin Prot</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Georges Ralli&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Georges Ralli</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Louis Schweitzer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Louis Schweitzer</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Murray Stuart&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      Murray Stuart</font></p></td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Director</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'>      <font size=2><u>/s/ J&#233;r&#244;me Contamine&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      J&#233;r&#244;me Contamine</font><u></u></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Senior Executive Vice President and Chief Financial Officer</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2><u>/s/ Pierre-Fran&#231;ois Riolacci&nbsp;&nbsp;</u></font><font size=2><br>
      Pierre-Fran&#231;ois Riolacci</font><u></u></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Group Finance Controller </font><br> <font size=2>(Chief Accounting Officer)</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr valign="top">
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='text-align:left;margin-top:12.0pt;margin-bottom: 0in;line-height:129.6%'> <font size=2><u>/s/ T. Michael O&#146;Brien&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font><font size=2><br>
      T. Michael O&#146;Brien</font><u></u></p> </td>
        <td width="34%" style='padding:0in 11.25pt 0in 11.25pt'>
      <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:12.0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Authorized U.S. Representative</font></p> </td>
        <td width="33%" style='padding:0in 11.25pt 0in 11.25pt'>
  <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:12.0pt;margin-bottom:0pt'><font size=2>December 12, 2006</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:69.23%; text-indent:-11.54%;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>


<div align=left>

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    <tr style='height:24.0pt'>
        <td width="33%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1> </font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>9</font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Exhibit Index</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:6.0pt;border-collapse:collapse'>
    <tr>
        <td width="13%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><b><font size=2>Exhibit</font></b><br> <b><font size=2>Number</font></b></p> </td>
        <td width="86%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><b><font size=2>Description</font></b>                           </p> </td> </tr>
    <tr>
        <td width="13%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>4.1</font></p> </td>
        <td width="86%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Registrant's </font><i><font size=2>Statuts</font></i><font size=2> (previously filed as Exhibit 1 to the Registrant's Annual Report on Form 20-F and incorporated herein by reference).</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="13%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>4.2*</font></p> </td>
        <td width="86%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>2006 Share Subscription Option Plan.</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="13%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>5.1*</font></p> </td>
        <td width="86%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Opinion of Alain Tchernonog, General Counsel, as to the Legality of the Ordinary Shares.</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="13%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>23.1*</font></p> </td>
        <td width="86%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Consent of Salustro Reydel, member of KPMG International, and Ernst &amp; Young et Autres.</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="13%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>23.2*</font></p> </td>
        <td width="86%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Consent of Alain Tchernonog (contained in Exhibit 5.1).</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr>
        <td width="13%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>24.1*</font></p> </td>
        <td width="86%" valign=top style='padding:0in 6.0pt 0in 6.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=2>Powers of Attorney (included on the Signature Page).</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:129.6%'><font size=1>&nbsp;</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>_________________________________</font></b></p>


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        <td width="24%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>*</font></p> </td>
        <td width="76%" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Filed herewith.</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1> </font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>10</font></p> </td>
        <td width="33%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:24.0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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[{"type": "S-8", "sequence": "1", "filename": "veolia-s8_0306.htm", "secsgml_size_bytes": 82135}]
{"company-data": {"conformed-name": "VEOLIA ENVIRONNEMENT", "cik": "0001160110", "assigned-sic": "4953", "irs-number": "000000000"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-141109", "film-number": "07677372"}, "business-address": {"street1": "BANK OF NEW YORK", "street2": "101 BARCLAY STREET 22ND FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10386", "phone": "2128152129"}, "mail-address": {"street1": "36-38 AVE. KLEBER", "street2": "PARIS", "zip": "75116"}, "former-company": {"former-conformed-name": "VIVENDI ENVIRONNEMENT", "date-changed": "20010926"}}
As filed with the Securities and Exchange Commission on  March 7, 2007
Registration No. 333-_________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
_________________________
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
____________________________
VEOLIA ENVIRONNEMENT
(Exact name of registrant as specified in its charter)
France
Not Applicable
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
36/38, avenue Kléber
75116 Paris
France
(Address of principal executive offices, including zip code)
_____________________________
2006 Share Subscription Option Plan
(Full title of the plan)
T. Michael O'Brien
Veolia Water North America Operating Services
184 Schuman Boulevard
Naperville, IL 60563
(630) 717-2236
(Name, address and telephone number, including area code, of agent for service)
1
CALCULATION OF REGISTRATION FEE
Title of
Securities to be
Registered
Amount
to be
Registered (1)
Proposed Maximum
Offering Price Per
Share
Proposed Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
Ordinary Shares, nominal value €5.00 per share
265,900 (2)
$58.60 (3)
$15,581,773.24  (3)
$478.36
(1)
This registration statement on Form S-8 (this "
Registration Statement
") shall also cover any additional ordinary shares, nominal value €5.00 per share (the "
Ordinary Shares
"), of Veolia Environnement (the "
Registrant
") which become issuable under any of the Registrant's plans registered pursuant to this Registration Statement by reason of any stock dividend, stock split, recapitalization or any other similar transaction or similar transaction effected without the receipt of consideration which results in an increase in the number of the Registrant's outstanding Ordinary Shares.
(2)
Represents 265,900 Ordinary Shares subject to outstanding awards under the 2006 Share Purchase Option Plan.
(3)
Pursuant to Rule 457(h) under the Securities Act, the Proposed Maximum Offering Price Per Share and the Proposed Maximum Aggregate Offering Price are based on the per share exercise price of the stock options, translated into U.S. dollars at the noon buying rate in New York City on March 5, 2007, for cable transfers in Euros as certified for customs purposes by the Federal Reserve Bank of New York on that date.
2
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
ITEM 1.
Plan Information.
*
ITEM 2.
Registrant Information and Employee Annual Information.
*
_________________________
*
Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act and the "Note" to Part I of Form S-8.
3
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
ITEM 3.
Incorporation of Documents by Reference.
The following documents previously filed with the Securities and Exchange Commission (the "
SEC
") by the Registrant are incorporated by reference in this Registration Statement:
(a)
the Registrant's Annual Report on Form 20-F (No. 001-15248), as filed with the SEC on June 29, 2006 (the "
Annual Report on Form 20-F
"), pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "
Exchange Act
"), which contains audited financial statements for the Registrant's latest financial year for which such statements have been filed;
(b)
the description of the Registrant's Ordinary Shares set forth in Item 10 in the Registrant's Annual Report on Form 20-F with the exception of the sections captioned "Exchange Controls", "Taxation", "Documents on Display", "Enforceability Of Civil Liabilities Against Foreign Persons" and "Statement on Corporate Governance as Required by Section 303a.11 of the New York Stock Exchange's Listed Company Manual"; and
(c)
the Registrant's reports on Form 6-K (File No. 001-15248), as furnished to the SEC on February 3, March 8, March 14, March 21, April 11, April 13, April 28, May 15, May 17, May 30, June 2, June 16, June 19, June 20, June 26, July 5, July 28, July 31, August 2, September 18, September 25, October 13, November 8 and November 22, 2006 and January 18, January 24, January 30, February 5 and February 7, 2007.
All reports and documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities remaining unsold, shall be deemed to be a part hereof
from the date of filing such documents.  In addition, reports on Form 6-K deemed filed by the Registrant with the SEC shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof
from the date such documents are filed with the SEC.
Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement incorporated by reference herein modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
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ITEM 4.
Description of Securities.
Not applicable.
ITEM 5.
Interests of Named Experts and Counsel.
The legality of the Ordinary Shares offered hereby has been passed upon for the Registrant by Mr. Alain Tchernonog, General Counsel of the Registrant, who owns 115 Ordinary Shares and has options to purchase 90,030 Ordinary Shares.
ITEM 6.
Indemnification of Directors and Officers.
The Registrant maintains liability insurance for its directors and officers, including insurance against liabilities under the Securities Act.
ITEM 7.
Exemption from Registration Claimed.
Not applicable.
ITEM 8.
Exhibits.
See attached exhibit list.
ITEM 9.
Undertakings.
(a)
The Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in the Registration Statement;
(2)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof, and
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(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act
and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Paris, France, on this 6th day of March, 2007.
VEOLIA ENVIRONNEMENT
By:
/s/ Henri Proglio
Name:
Henri Proglio
Title:
Chairman of the Board and CEO
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POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS
, that each person whose signature appears below constitutes and appoints each of Mr. Henri Proglio, Mr. Jérôme Contamine and Mr. Alain Tchernonog his true and lawful attorney-in-fact- and agent, each acting alone, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign and to file a Registration Statement on Form S-8 (or such other Form as may be appropriate) in connection with the registration of Ordinary Shares of the Registrant and any and all amendments (including post-effective amendments) to any such Registration Statement on Form S-8 with the Securities and Exchange Commission, granting to said attorney-in-fact and agent full power and authority to perform any other act on behalf of the undersigned required to be done in the premises.  This
power of attorney may be executed in counterparts.
Pursuant to the requirements of the Securities Act, this Registration Statement on Form S-8 has been signed by the following persons in the capacities indicated.
Signature
Title
Date
/s/ Henri Proglio
Henri Proglio
Chairman and Chief Executive Officer and Director
December 12, 2006
/s/ Jean Azéma
Jean Azéma
Director
December 12, 2006
/s/ Daniel Bouton
Daniel Bouton
Director
December 12, 2006
/s/ Jean-Marc Espalioux
Jean-Marc Espalioux
Director
December 12, 2006
/s/ Jean-François Dehecq
Jean-François Dehecq
Director
December 12, 2006
/s/ Paul-Louis Girardot
Paul-Louis Girardot
Director
December 12, 2006
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/s/ Philippe Kourilsky
Philippe Kourilsky
Director
December 12, 2006
/s/ Serge Michel
Serge Michel
Director
December 12, 2006
/s/ Baudouin Prot
Baudouin Prot
Director
December 12, 2006
/s/ Georges Ralli
Georges Ralli
Director
December 12, 2006
/s/ Louis Schweitzer
Louis Schweitzer
Director
December 12, 2006
/s/ Murray Stuart
Murray Stuart
Director
December 12, 2006
/s/ Jérôme Contamine
Jérôme Contamine
Senior Executive Vice President and Chief Financial Officer
December 12, 2006
/s/ Pierre-François Riolacci
Pierre-François Riolacci
Group Finance Controller
(Chief Accounting Officer)
December 12, 2006
/s/ T. Michael O'Brien
T. Michael O'Brien
Authorized U.S. Representative
December 12, 2006
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Exhibit Index
Exhibit
Number
Description
4.1
Registrant's
Statuts
(previously filed as Exhibit 1 to the Registrant's Annual Report on Form 20-F and incorporated herein by reference).
4.2*
2006 Share Subscription Option Plan.
5.1*
Opinion of Alain Tchernonog, General Counsel, as to the Legality of the Ordinary Shares.
23.1*
Consent of Salustro Reydel, member of KPMG International, and Ernst & Young et Autres.
23.2*
Consent of Alain Tchernonog (contained in Exhibit 5.1).
24.1*
Powers of Attorney (included on the Signature Page).
_________________________________
*
Filed herewith.
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