FRENCH OFFICIAL RESERVES RISE IN MAY French official reserves rose 258 mln francs in May to 420.50 billion francs from 420.24 billion at the end of April, the Finance Ministry said. The slight rise partly reflected the repayment last month of France's outstanding 11.95 billion francs of debt owed to the European Monetary Cooperation Fund (FECOM). It also reflected a negative 314 mln franc position with France's Exchange Stabilisation Fund after intervention purchases of 10.6 billion francs during May. Foreign currency holdings fell 7.28 billion francs to 124.58 billion while ECU holdings fell by 5.55 billion francs to 58.52 billion due to the repayment of part of France's debt owed to the FECOM and Stabilisation Fund operations, the ministry said. Claims on the IMF rose 1.14 billion francs to 18.97 billion, including a 385 mln franc increase in France's reserve position with the IMF and a 751 mln franc rise in holdings of Special Drawing Rights. Gold holdings were unchanged at 218.46 billion francs.