Back 2003-12-02: Vivendi Universal about to restore greater flexibility to its bank debt Vivendi Universal announced today that it has signed an underwritten agreement for a new unsecured syndicated credit facility. This five-year, 2.7 billion euro facility will be used to cover the company’s general corporate purposes. The use of the facility is subject to the closing of the NBC-Universal transaction planned for the first half of 2004. It will be used, in addition to the proceeds of around 3.3 billion dollars to be received from the transaction, to refinance the company’s three secured bank facilities: syndicated credit facilities of 2.5 billion euros and 3 billion euros and a bilateral facility of 200 million euros. These facilities were set up or restructured during the first half of 2003. Following this transaction, Vivendi Universal will be restored to the financial flexibility of an investment grade company, equivalent to its situation before June 2002. In addition, the removal of mandatory prepayments from disposal proceeds will enable Vivendi Universal to increase significantly its effective average debt maturity. Also, the level of the new facility’s spreads have been considerably lowered to take into account the recent change in the quality of the company’s credit. The maximum spread is 110 bp (compared with 275 bp for the current 2.5 billion euros facility) and is likely to be gradually adjusted, depending on Vivendi Universal’s rating, to reach 45 bp if the company’s rating moves to BBB+/Baa1. The Mandated Lead Arrangers / Book Runners that have underwritten the transaction are: Bank of America, BNP Paribas, Citigroup, Crédit Lyonnais - Crédit Agricole Indosuez, Deutsche Bank, JP Morgan, Royal Bank of Scotland and Société Générale. Important Disclaimer This press release contains 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking 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 risk that the NBC-Universal transaction will not be finalized; that the transaction will not materialize in the timing or manner described above; that Vivendi Universal will not be able to obtain the necessary approvals to finalize certain transactions as well as the risks described in the documents Vivendi Universal has filed with the U.S. Securities and Exchange Commission and the French Commission des Opérations de Bourse. Vivendi Universal does not undertake nor does it have any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Vivendi Universal with the French Commission des Opérations de Bourse and with the U.S. Securities and Exchange Commission (at ) or directly from Vivendi Universal.