Have posted a copy of e mail for those interested !!




Eurotunnel Happy New Year for 2005,

for you and for Eurotunnel

Dear Shareholder

We wish you a very Happy New Year. We are pleased to count you amongst our
subscribers who have expressed an interest in following Eurotunnel's
progress online.
This means of communication will allow us to update you with news of
Eurotunnel rapidly, regularly and cost effectively.

2004 was a year of change for your company, with the new board elected by
you the shareholders in April. Our first response to this challenge was the
announcement in October of the outline of project DARE, which constitutes a
major reorganisation of Eurotunnel's commercial and operational strategies.

2005 will be the year of the debt restructuring. This restructuring will
allow us to resolve
the fundamental imbalance of our company.

Rest assured that we remain committed to our responsibilities: defending the
interests of the company and that of its shareholders.

Regards

Jacques Maillot Jean-Louis Raymond
Chairman Chief Executive