Paris, August 21, 2007

ICSID rules in favor of Vivendi in Tucuman (Argentina) dispute

Vivendi announces that the international arbitration tribunal- ICSID has ruled in favor of Vivendi and Compañía de Aguas del Aconquija (CAA, Vivendi’s Argentina subsidiary), in a dispute related to a water concession of the Argentine Province of Tucuman. The concession started in 1995 and was completed in 1997.  

In an award released on August 20, 2007, the International Centre for Settlement of Investment Disputes (ICSID), determined that acts of provincial officials violated rights of Vivendi, its subsidiary and the Treaty between France and Argentina that protects foreign investors in both countries.

The tribunal awarded Vivendi and CAA $105 million for damages plus interest and costs.

Important disclaimer
This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Vivendi. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such 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 risks described in the documents Vivendi filed with the Autorité des Marchés Financiers (French securities regulator) and which are also available in English on our web 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. The present forward-looking statements are made as of the date of the present press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.