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Sutherland Represents United States Filter Corp. Through the Sale of Its Surface Preparation Group Business

September 3, 2003

ATLANTA (September 3, 2003) – Sutherland Asbill & Brennan LLP advised United States Filter Corp. (USFilter) through the sale of its surface preparation business to International Surface Preparation Corp., a newly formed company jointly owned by Bard Group, LLC; The GlenRock Group, LLC; Atlantic Equity Partners III, LP; and Hunt Capital Growth Fund II, LP.  USFilter, a subsidiary of Veolia Environnement (Paris Bourse: VIE and NYSE: VE), is North America's largest water company.

The deal, which closed on August 19, completed USFilter's previously disclosed plans to divest its non-core businesses by the end of 2003.  Total proceeds from the disposition of USFilter's surface preparation businesses, including the sale earlier this year of its Walther Trowal mass-finishing business, were approximately $130 million.

The Sutherland team, led by Mark Wasserman of the Business Practices Group, includes Knox Dobbins, Eric Fenichel, Andi Hayworth, Andy Locker, and Marc Rawls of the firm's Business Practices Group and Reggie Clark and Giovanna Sparagna of the firm's Tax Group.  CIBC World Markets acted as financial advisor to USFilter. 

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DEAL NOTIFICATION

Target:  USFilter's Surface Preparation Group Business

Bidder:  International Surface Preparation Corp.

Value:  Total proceeds from the sale of USFilter's surface preparation businesses, including the Walther Trowal sale, were approximately $130 million.

Date Deal Announced:  July 23, 2003 (Closed on August 19, 2003)

Lawyers for Target:  Mark Wasserman, Reggie Clark, Knox Dobbins, Eric Fenichel, Andi Hayworth, Andy Locker , Marc Rawls and Giovanna Sparagna of Sutherland Asbill & Brennan LLP.

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