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EXHIBIT 99.3
[VIVENDI UNIVERSAL LOGO]
VIVENDI UNIVERSAL WILL ENTER INTO A MONETIZATION AGREEMENT
CONNECTED TO ITS BSKYB INVESTMENT
PARIS, SEPTEMBER 25, 2001 - Vivendi Universal [PARIS BOURSE: EX FP; NYSE: V]
will enter into a monetization structure with a financial institution related to
its BSkyB investment. This structure constitutes the implementation of the
commitment made to the European Commission. In connection with the monetization,
Vivendi Universal also retains the financial exposures related to the value of
BSkyB, no later than September 2005.
This monetization will result in Vivendi Universal recognizing an accounting
profit in 2001, the amount of which is dependent on the BSkyB share price at the
end of the year. However, the profit would approximate 2.6 billion euros at a
share price of 650 xxxxx.
The proceeds from this monetization, which will approximate 4.2 billion euros,
are intended to reduce Vivendi Universal's debt and to finance the buyback of
Vivendi Universal shares.
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 recently acquired operations will not be integrated
successfully; that the synergies expected to be created as a result of recent
acquisitions will not materialize; that Vivendi Universal will be unable to
further identify, develop and achieve success for new products, services and
technologies; that Vivendi Universal will face increased competition and that
the effect on pricing, spending, third-party relationships and revenues of such
competition will limit or reduce Vivendi Universal's revenue and/or income; that
Vivendi Universal will be unable to establish and maintain relationships with
commerce, advertising, marketing, technology, and content providers; and that
Vivendi Universal will be unable to obtain or retain, upon acceptable terms, the
licenses and permits necessary to operate and expand its businesses; as well as
the risks described in the documents Vivendi Universal has filed with the U.S.
Securities and Exchange Commission. Investors and security holders may obtain a
free copy of documents filed by Vivendi Universal with the U.S. Securities and
Exchange Commission at xxx.xxx.xxx or directly from Vivendi Universal.
CONTACTS:
MEDIA RELATIONS:
PARIS
Xxxxxxx Xxxxxx
011-33-1-71-71-1180
Xxxxx Xxxxxxx
011-33-1-71-71-1086
NEW YORK
Xxxxx Xxxxxx
212.572.1118
Xxx Xxxxxxxxx
212.572.7556
INVESTOR RELATIONS:
PARIS
Ariane de Lamaze
011-33-1-71-71-1084
NEW YORK
Xxxxxx XxXxxxxxxx
212.572.8961
