Existing third party contracts for the
plant and contractual arrangements for fuel supply and electricity offtake
remain unchanged.

Formerly, Spanish Sahara.

morocco comprising

FMC Technologies Announces Update on Sonatrach Project

Forward-looking statements are
information of a non-historical nature and are subject to risks and
uncertainties that are beyond the Company 's ability to control.
With investments of over US$550 million, Globeleq is the only operating
power company solely focused on the emerging markets of Africa, the Americas
and Asia.

mi.

morocco heatedly

We continue to estimate
project completion by the end of the third quarter of 2005. Forward-
looking statements are qualified in their entirety by the cautionary language
set forth in the Company's filings with the Securities and Exchange
Commission, including the risks and uncertainties described in the Cautionary
Note Regarding Forward-Looking Statements in Management's Discussion and
Analysis of Financial Condition and Results of Operations in the Company's
2004 Annual Report on Form 10-K .

claimed nw

This additional $9 million reflects higher costs
for offshore pipeline installation, due in part to weather delays, and higher
onshore pump station construction costs as well as a reexamination of total
project costs.

102 sq

This acquisition augments our
presence in the region and positions us for further opportunities. Since 2002 the company has acquired more than 2,200MW of generation
capacity , reaching a total of more than 3,000 net equity MW in 21 projects in
16 countries.

sahara heatedly

(NYSE: FTI ) announced today that its FMC SOFEC Floating Systems subsidiary
will report increased losses on its Sonatrach project, the offshore oil
loading project in Algeria for Sonatrach-TRC, the Algerian Oil and Gas
Company.

This release contains forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995.

1979 180

As previously announced, losses of $18 million were expected in the first
quarter due to increased costs from extended testing and installation, largely
related to the offshore work of the project, and cost increases for
engineering design changes to the three onshore pump stations and for project
engineering and management. The Company cautions shareholders and
prospective investors that actual results may differ materially from those
indicated by the forward-looking statements.

1979 sahar

266 180

1884 oro

The additional cost increase is approximately $9 million, or
$0. HOUSTON, Globeleq, the emerging markets power
company, announced that it has increased its ownership interest to 100% of
Sidi Krir, a 683 megawatt (MW) natural gas-fired power station in Egypt .

entirely sahar

FMC Technologies, Inc.

heatedly western

com ) is a global
leader providing mission-critical technology solutions for the energy, food
processing and air transportation industries. Globeleq is actively pursuing acquisitions and new project
development.

algeria africa

FMC Technologies designs,
manufactures and services technologically sophisticated systems and products
for its customers through its Energy Systems (comprising Energy Production
Systems and Energy Processing Systems), FoodTech and Airport Systems
businesses. FMC Technologies employs approximately 9,000 people and operates
31 manufacturing facilities in 16 countries.

All discussion of Western Sahara is unavoidably and heatedly political.

102 , 700 sq.

oro africa

fmctechnologies.

km).

heatedly 266

1.

sahar comprising

08 per diluted share. Kinnear, Executive Vice President -
FMC Technologies."
Sidi Krir Generating Company's General Manager, Tom Thomason added:
"Working closely with Globeleq over the last few months has been extremely
rewarding for the entire team at Sidi Krir.

a region in NW Africa on the Atlantic
coast, bounded by Morocco, Algeria, and
Mauritania: a former Spanish province
comprising Ro de Oro and Saguia el
Hamra 1884-1976; divided between Morocco
and Mauritania 1976; claimed entirely by
Morocco 1979, but still under dispute.

1976 102

180, 000; ab.

mauritania unavoidably

This is a
high-quality operation with an expert staff. It is a great opportunity to be
involved in a dynamic company and we all look forward to being involved as a
key component of the rapidly expanding Globeleq portfolio.

102 algeria

"We are clearly disappointed with the cost increases we continue to
experience on this project," said Peter D."
These estimates of total project costs reflect management's best
estimates."
The plant, which is 30 km (20 miles) west of Alexandria on the
Mediterranean coast, uses gas supplied by the Egyptian National Gas Company,
the government owned gas distribution company and produces power for the
Egyptian Electricity Holding Company.

(266, 000
sq.

algeria sahar

(http://www.
Globeleq entered the Egyptian electricity market in December 2004 when it
purchased a majority interest in Sidi Krir.

africa divided

HOUSTON, FMC Technologies, Inc. "We expect to be ready for customer acceptance testing on
June 30, 2005, at the Bejaia station, on July 31, 2005, at the Arzew station
and on August 31, 2005, at the Skikda station. It has since been negotiating
with Edison SpA , the other shareholder in the project, and has completed the
purchase of the remaining interest.

266 1979

This increase will bring the total loss on the
contract, recorded in the first quarter of 2005, to approximately $27 million. There may be additional losses identified as the project proceeds
toward its commissioning.

Globeleq Reaches 100% Ownership of Egyptian Power Station

Here's why:
West 'ern Sahar'a n.

sq 266

266 180

700 comprising

Torbjorn Caesar, Globeleq's Executive Vice President for Africa,
commented , "We are very pleased to be the 100% owner of Sidi Krir.

claimed 102

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