June 06, 2001

Vivendi Universal sells its holding in Havas Advertising. The 453 million euro transaction will yield capital gains of 113 million euros


Vivendi Universal has just divested the remaining 9.9% share it held in Havas Advertising, the world's 5th largest advertising and communications consulting group.

The shares were sold in part to institutional investors and in part to Havas Advertising, which will hold them as treasury stock.

The 453 million euro transaction, which has been implemented in full agreement with Havas Advertising's Management, will yield capital gains for Vivendi Universal of about 113 million euros.

The cash thus generated, in addition to arbitrages by Vivendi Universal Publishing, will finance the acquisition of Houghton Mifflin, the leading textbook publisher in the US, on which Vivendi Universal has just launched a friendly takeover bid.


Important Disclaimer
This press release contains 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to: the risk that recently acquired operations will not be integrated successfully; that the synergies expected to be created as a result of recent acquisitions will not materialize; that Vivendi Universal will be unable to further identify, develop and achieve success for new products, services and technologies; that Vivendi Universal will face increased competition and that the effect on pricing, spending, third-party relationships and revenues of such competition will limit or reduce Vivendi Universal's revenue and/or income; that Vivendi Universal will be unable to establish and maintain relationships with commerce, advertising, marketing, technology, and content providers; and that Vivendi Universal will be unable to obtain or retain, upon acceptable terms, the licenses and permits necessary to operate and expand its businesses; as well as the risks described in the documents Vivendi Universal has filed with the U.S. Securities and Exchange Commission. Investors and security holders are urged to read those documents at the Commission's web site at www.sec.gov. Those documents may also be obtained free of charge from Vivendi Universal