Tuesday, September 25, 2001

Vivendi Universal will cancel another 33 million shares




Vivendi Universal will cancel another 33 million shares, bringing cancellations of its capital stock to 5% since the end of June


The Vivendi Universal Board of Directors met today, chaired by Jean-Marie Messier, authorized the cancellation of 33 million of the company's shares, corresponding to 3% of the capital stock.

Vivendi Universal stock is now trading at prices that seem very attractive in comparison with the company's intrinsic value and growth prospects.

Vivendi Universal has decided to use the authorization given by its Shareholders' Meeting to buy back approximately 33 million of its own shares on the open market. The shares that have been or will be bought back, will be canceled. A similar transaction took place on June 28. Through the two transactions, 5% of the capital stock will have been canceled.

This type of transaction creates shareholder value as it increases earnings per share by an equivalent percentage. This is the case whether in terms of EBITDA per share, earnings per share, or net asset value per share.

After the transaction, Vivendi Universal treasury stock will represent 5% of capital.


Contacts :
Alain Delrieu : 01 71 71 10 86
Antoine Lefort : 01 71 71 11 80