August 21, 2007: ICSID rules in favor of Vivendi in Tucuman (Argentina) dispute

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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 (www.vivendi.com).  Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, 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. Avertissement important : Le présent communiqué de presse contient des déclarations prospectives relatives à la situation financière, aux résultats des opérations, aux métiers, à la stratégie et aux projets de Vivendi. Même si Vivendi estime que ces déclarations prospectives reposent sur des hypothèses raisonnables, elles ne constituent pas des garanties quant à la performance future de la société. Les résultats effectifs peuvent être très différents des déclarations prospectives en raison d'un certain nombre de risques et d'incertitudes, dont la plupart sont hors de notre contrôle, et notamment les risques décrits dans les documents déposés par Vivendi auprès de l’Autorité des Marchés Financiers, également disponibles en langue anglaise sur notre site (www.vivendi.com). Les investisseurs et les détenteurs de valeurs mobilières peuvent obtenir gratuitement copie des documents déposés par Vivendi auprès de l’Autorité des Marchés Financiers (www.amf-france.org) ou directement auprès de Vivendi. Le présent communiqué de presse contient des informations prospectives qui ne peuvent s’apprécier qu’au jour de sa diffusion.