VALLOUREC : Regulated Information - AVAILABILITY OF THE PROSPECTUS AND LISTING OF BONDS MATURING IN SEPTEMBER 2024

Not for distribution in the United States, Canada, Australia or Japan

This announcement is not an offer of securities in the United States or any other jurisdiction. The Bonds may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Vallourec does not intend to register any portion of the offer in the United States or to conduct a public offering of securities in the United States.

Regulated Information

AVAILABILITY OF THE PROSPECTUS AND LISTING OF BONDS MATURING IN SEPTEMBER 2024

Boulogne-Billancourt, 29 September 2014 - On 23 September 2014, Vallourec launched a € 500 million bond issuance maturing in September 2024 with an annual interest rate of 2.25 %.

In view of the listing of the bonds on Euronext in Paris, Vallourec filed a prospectus that received visa no.14-521 from the French Market Authorities (Autorité des Marchés Financiers) on 26 September 2014.

An English version of this prospectus may be accessed on the company's website (http://www.vallourec.com) and on the website of the Autorité des Marchés Financiers (http://www.amf-france.org).  Copies of the prospectus may be obtained free of charge at BNP Paribas Securities Services, Les Grands Moulins de Pantin, 9, rue du Débarcadère, 93500 Pantin.  Investors are urged to carefully review the risk factors beginning on pages 10 of the prospectus.

The bonds will be listed on and will trade on Euronext in Paris from 30 September 2014.

DISCLAIMER

No communication and no information in respect of the offering by Vallourec of bonds (the "Bonds") may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction where such steps would be required. The offering or subscription of the Bonds may be subject to specific legal or regulatory restrictions in certain jurisdictions. Vallourec takes no responsibility for any violation of any such restrictions by any person.

This announcement is for information purposes only and does not, and shall not, in any circumstances constitute a public offering nor an invitation to the public in connection with any offer in any jurisdiction. No action shall be taken by Vallourec in connection with this placement to allow a public offering in France or in any other jurisdiction and no documents relating to the Bonds will be distributed to the public in any jurisdiction. The circulation, publication or distribution of this announcement in jurisdictions where such circulation, publication or distribution may constitute a violation of applicable laws and regulations is prohibited.

This press release may not be published, distributed or transmitted in the United States (including its territories and dependencies, any state of the United States and the district of Columbia).  This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). They may not be offered or sold in the United States (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act. Vallourec does not intend to register any portion of the offering in the United States or to conduct a public offering in the United States.

The Bonds were subject to a private placement in France reserved to (i) persons providing investment services relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers) and/or (ii) qualified investors (investisseurs qualifiés), other than individuals, acting for their own account, as defined in, and in compliance with, Articles L. 411-1, L. 411-2 and D. 411-2 of the French Code monétaire et financier.

No prospectus has been approved in connection with such placement by the competent authority of another State that is a contracting party to the Agreement on the European Economic Area.

The distribution of this announcement to persons located in the United Kingdom shall be limited to circumstances in which Section 21(1) of the Financial Services and Markets Act 2000 does not apply.

About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 24,000 employees, integrated manufacturing facilities, advanced R&D and a presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the energy challenges of the 21st century.

Listed on Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: MSCI World Index, Euronext 100 and SBF 120.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

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