Vivendi SA holdings sold

Richemont, the Swiss luxury goods group, announces that it has sold its holding of 17.5 million shares in Vivendi SA in a private transaction. The Group had previously hedged the value of the investment such that the net proceeds of the disposal amount to € 1 175 million. Richemont will report an exceptional gain of € 530 million in its results for the six month period to 30 September 2000 in respect of the disposal.