Sale of Editis assets

Category

Lagardère Publishing

Paris, May 28, 2004

LAGARDERE SCA & WENDEL Investissement have reached a draft agreement for the divestiture of the Editis assets which were put up for sale in accordance with the Brussels Commission decision of January 7, 2004.

In order to be finalized, this draft agreement must be submitted for an opinion of the relevant workers councils as well as the approval by the antitrust authorities.

The transaction under consideration with WENDEL Investissement meets the various criteria that LAGARDERE had set for itself, while also complying with the ones established by Brussels: a block sale, based on an enterprise value of 660 million euros which will be entirely paid in cash at closing, speed of implementation, financial soundness of the acquirer and a long term industrial vision.

It is Arnaud LAGARDERE’s decision of last December to retain the publishing companies Larousse, Anaya, Dunod, Dalloz, Armand Colin which permitted today the finalization of this draft agreement in the best conditions.

BNP Paribas advised LAGARDERE in this transaction.

Press Contacts:

Thierry Funck-Brentano - 33 (0)1 40 69 16 34 - tfb@lagardere.fr

Jean-Pierre Joulin - 33 (0)1 40 69 18 03 - jpjoulin@lagardere.fr

Arnaud Molinié - 33 (0)1 40 69 16 72 - amolinie@lagardere.fr

Investor Relation Contact:

Alain LEMARCHAND - 33 (0)1 40 69 18 02

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