Vivendi Releases First-Half Results

PARIS, August
31: Vivendi’s revenues for the first half of the year rose 6.4 percent to 10.2
billion euros, but net earnings of 2.2 billion euros were down 12 percent on
the previous period.

Announcing the
results, Jean-Bernard Lévy, chairman of Vivendi's Management Board, noted: “Vivendi
demonstrated significant growth in revenues, EBITA, adjusted net income and
cash flow generation in the first half of 2007. This proves the effectiveness
of a strategy focused on developing and investing in the entertainment
industry. By the end of the year, we expect to exceed the record year we had in
2006 and we confirm our outlook for an adjusted net income above 2.7 billion
euros. The business unit dynamic remains excellent and our long-term objectives
are on target."

For the second
quarter, revenues gained 7.4 percent to 5.2 billion euros, with earnings down
38.3 percent to 911 million euros. In the period, Canal+ Group’s revenues rose
16.4 percent to 1.1 billion euros. For the first half, revenues were up 17.5
percent to 2.2 billion euros.