Cautionary Note Concerning Forward-Looking Statements

This website contains “forward-looking statements” as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expects,” “projects,” “intends,” “plans,” “believes,” “will” and words and terms of similar substance typically indicate forward-looking statements. All forward-looking statements are management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

You are cautioned not to rely on such forward-looking statements, which speak only as of the date they were made. Vivendi is not under any obligation, and expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements attributable to Vivendi, its affiliates or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements referred to in this section.

Vivendi operates in highly competitive, consumer driven industries and is dependent upon government regulation and economic, political and social conditions in the countries in which it operates, customer demand for its products and services, technological developments, third-party relationships with advertising, marketing, technology and content providers, and protection of its intellectual property rights. Vivendi’s actual results could differ materially from management’s expectations because of changes in such factors. Some of the other factors that also could cause actual results to differ from those described in, or otherwise projected or implied by, the forward-looking statements include, but are limited to, the risks related to antitrust and other regulatory approvals in connection with certain transactions as well as the risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator) and which are also available in English on this Site. Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at, or directly from Vivendi.


Unsponsored ADRs

Vivendi does not sponsor an American Depositary Receipt (ADR) facility in respect of its shares. Any ADR facility currently in existence is “unsponsored” and has no ties whatsoever to Vivendi. Vivendi disclaims any liability in respect of such facility.