Paris, April 2 2008

(NOT FOR DISTRIBUTION IN CANADA, JAPAN OR ITALY)

Vivendi raised $1.4 billion of Notes in two tranches with 5 and 10 year of maturities

Vivendi SA has agreed to sell $700 million in aggregate principal amount of 5.75% senior notes due 2013 at a price equal to 99.397% of the principal amount thereof and $700 million in aggregate principal amount of 6.625% senior notes due 2018 at a price equal to 99.675% of the principal amount thereof (together the “Senior Notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-US persons in compliance with Regulation S under the Securities Act. The sale of the Senior Notes is expected to close on April 4, 2008.

Vivendi indicates that this transaction is made within the scope of the planned acquisitions of Activision and Neuf Cegetel. The objective is to rebalance its debt structure between bank debt and bond debt and to lengthen its average maturity. This financing will be a substitute to drawings under its bank facilities which are available to Vivendi today and which are already largely sufficient to ensure the financing of these transactions.

The issue of the Senior Notes also allows Vivendi to improve the balancing of its Euro/Dollar debt to its business portfolio and to access maturity periods longer than those available in the Euro markets. The issue was led by Banc of America Securities LLC, Barclays Capital Inc and Citigroup Global Markets Inc.

Important disclaimer

The notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Cautionary Statement Concerning Forward-looking Statements

This news release contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. These forward-looking statements are not based on historical facts, but rather reflect the Company’s current expectations concerning future results and events. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause the actual results, performance or achievements of the Company to be different from any future results, performance and achievements expressed or implied by these statements, included, but not limited to, the risks, uncertainties and other factors disclosed in the Company’s public filings with the French Autorité des Marchés Financiers, including its 2007 Annual Report filed as a Reference Document. The forward-looking statements are made as of this date and the Company undertakes no obligation to update them, whether as a result of new information, future events or otherwise.