Share Capital Breakdown as of 31st December 2010

At December 31, 2010, the capital of Boiron SA was as follows:

Share issued

2005
in euros
2006
in euros
2007
in euros
2008*
in euros
2009
in euros
Number of shares 20,672,000 22,006,286 22,006,286 21,947,566 21,734,528
Adjusted master data pershare (1)
Net income (2) 0.81 (3) 0.47 (4) 1.25 (7) 1.79 (6) 2.77
Cash flow (2) 2.19 (3) 1.71 (4) 2.84 (7) 3.74 (6) 5.05
Net dividend 0,37 0.30 0.50 0.60 0.7
Distribution rate 49.5 % 64 % 40 % 33 % 30%
Closing Rate (adjusted data) 21.70 18.29 18.38 17.34 29.81
Return (Net Divided / Closing Rate) 1.71 % 1.64 % 2.7 % 3.46 % 2.35
Price Earning Ratio (Year 2007) 26.79 39.08 14.70 9.69 10.76
Monthly average volume (adjusted data) 380,898 388,577 290,828 243,328 243,329
Market capitalization of Decembre 31 (in millions) 478 402 404 381 648

(*) Operating Income and net income for the year 2008 were impacted from advertising and promotional activities costs recorded as expenses, in accordance to the amendment of IAS 38, by respectively €203 thousand and €149 thousand.

(1) Considering of the attributions of free shares: a new one for an old one on 07/02/1997 and of the division of the nominal by 4 on 07/01/2003, and integrating the treasury shares held by the company.

(2) Calculations taking into account 54,286 treasury shares held by the company at 12/31/2005.

(3) Calculations taking into account 101,297 treasury shares held by the company at 12/31/2006.

(4))Calculations taking into account 117,198 treasury shares held by the company at 12/31/2007.

(5) Calculations taking into account 265,414 treasury shares held by the company at 12/31/2008.

(6) Calculations taking into account 256,084 treasury shares held by the company at au 12/31/2009.