PARIS (Standard&Poor's CreditWire) June 18, 1999--Standard&Poor's today affirmed its triple-'B'-plus long-term corporate credit and senior unsecured debt ratings on Cap Gemini S.A. This action follows the announcement made by Cap Gemini that it will launch a public share-exchange offer for the 43.6% of Cap Gemini N.V., its unrated Dutch subsidiary, that it does not already own. The outlook remains stable. Cap Gemini is looking to acquire all minority interests in Cap Gemini N.V., offering minority shareholders four Cap Gemini S.A. shares for every nine Cap Gemini N.V. shares held. This action is consistent with the company's strategy to simplify its corporate structure and increase operational flexibility. Standard&Poor's considers this operation to be very positive,
