Vivendi's first nine months 2007 earnings

Canal+ Group Revenues First Nine Months 2007

Canal+ Group’s revenues were €3,231 million compared to €2,712 million for the first nine months of 2006. This represents a €519 million increase (+19.1%).

Revenues from pay-TV operations in France were up €551 million (+24%), mainly driven by the TPS acquisition¹, subscription portfolio growth of Canal+ and CanalSat in France and overseas territories, as well as higher advertising revenues.

At the end of the period, Canal+ Group’s total subscription portfolio (Canal+ France scope) reached 10.4 million, which represented a net increase of 430,000 subscriptions compared to the combined subscriptions of Canal+ Group and TPS at the end of September 2006.

Revenues from other operations (excluding PSG, sold in June 2006) were slightly up thanks to continued subscription portfolio growth in Poland and increased advertising revenues from i>TELE, which has established itself as France’s number one news network.

1) Canal+ Group’s 2007 revenues include TPS’ revenues consolidated since January 4, 2007, when Vivendi and Canal+ Group obtained the control of TPS. For information, TPS’ revenues amounted to €443 million for the first nine months of 2006 and €149 million for the third quarter of 2006.