Filed by Vivendi
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: The Seagram Company Ltd.
Commission File No. 1-2275
and
Subject Company: Canal Plus S.A.
Commission File No. 82-2270
October 12, 2000
[HAVAS LOGO] Eric Licoys
Agnes Touraine
Fabrice Fries
--------------------------------------------------------------------------------
THE PUBLISHING DIVISION OF
VIVENDI UNIVERSAL
--------------------------------------------------------------------------------
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] IMPORTANT LEGAL DISCLAIMER
- THESE DOCUMENTS CONTAIN FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF
THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995. THESE STATEMENTS ARE BASED ON MANAGEMENT'S CURRENT
EXPECTATIONS OR BELIEFS AND ARE SUBJECT TO A NUMBER OF FACTORS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM
THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS. THE FORWARD-LOOKING
STATEMENTS CONTAINED IN THESE DOCUMENTS ADDRESS THE FOLLOWING SUBJECTS:
EXPECTED DATE OF CLOSING THE MERGER; FUTURE FINANCIAL AND OPERATING
RESULTS; AND TIMING AND BENEFITS OF THE MERGER. THE FOLLOWING FACTORS,
AMONG OTHERS, COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
DESCRIBED IN THE FORWARD-LOOKING STATEMENTS: THE RISK THAT THE VIVENDI,
CANAL+'S AND SEAGRAM'S BUSINESSES WILL NOT BE INTEGRATED SUCCESSFULLY;
COSTS RELATED TO THE MERGER; FAILURE OF THE VIVENDI, CANAL+ OR SEAGRAM'S
STOCKHOLDERS TO APPROVE THE MERGER; INABILITY TO FURTHER IDENTIFY,
DEVELOP AND ACHIEVE SUCCESS FOR NEW PRODUCTS, SERVICES AND TECHNOLOGIES;
INCREASED COMPETITION AND ITS EFFECT ON PRICING, SPENDING, THIRD-PARTY
RELATIONSHIPS AND REVENUES; INABILITY TO ESTABLISH AND MAINTAIN
RELATIONSHIPS WITH COMMERCE, ADVERTISING, MARKETING, TECHNOLOGY, AND
CONTENT PROVIDERS. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE
JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE BUSINESS COMBINATION
TRANSACTION REFERENCED IN THE FOREGOING INFORMATION, WHEN IT BECOMES
AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. THE JOINT
PROXY STATEMENT/PROSPECTUS WILL BE FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION BY VIVENDI, CANAL+ AND SEAGRAM. INVESTORS AND
SECURITY HOLDERS MAY OBTAIN A FREE COPY OF THE JOINT PROXY
STATEMENT/PROSPECTUS (WHEN IT IS AVAILABLE) AND OTHER DOCUMENTS FILED BY
VIVENDI, CANAL+ AND SEAGRAM WITH THE COMMISSION AT THE COMMISSION'S WEB
SITE AT WWW.SEC.GOV. THE JOINT PROXY STATEMENT/PROSPECTUS AND THESE
OTHER DOCUMENTS MAY ALSO BE OBTAINED FOR FREE FROM VIVENDI, CANAL+ AND
SEAGRAM. INFORMATION REGARDING THE PARTICIPANTS IN THE PROXY
SOLICITATION AND A DESCRIPTION OF THEIR DIRECT AND INDIRECT INTERESTS,
BY SECURITY HOLDINGS OR OTHERWISE, IS CONTAINED IN THE JOINT PRESS
RELEASE RELATING TO THE TRANSACTION FILED WITH THE COMMISSION BY EACH OF
VIVENDI AND SEAGRAM, ON JUNE 20, 2000.
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] AGENDA
- 1 - HAVAS GROUP
- 2 - Synergies
-- Our contribution to Vivendi Universal Synergies
-- 3 Year Plan
- 3 - Business description and two examples of web Strategy
-- Education.com
-- Flipside
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] OUR MISSION
TO BE A WORLDWIDE PUBLISHER
FOCUSING ON MARKETS WITH HIGH
MULTI-PLATFORM POTENTIAL
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO]
A LEADER IN
CONTENT IN 5
3 YEARS OF CORE MARKETS
REFOCUSING
--> DIVESTMENT: 2BN (EURO) 2000
A DIVERSIFIED --> ACQUISITION: 1.6BN (EURO)
MEDIA
CONGLOMERATE 1997-2000
BEFORE 1997
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] KEY FIGURES (IN [ ] BILLION)
TOTAL SALES : 3.5 BN (EURO)
<TABLE>
<CAPTION>
1999 2000 E *
<S> <C> <C>
- NET SALES 3.3 3.5
Europe 2.6 2.6
North America 0.5 0.7
ROW 0.1 0.2
- EBITDA BEFORE
INTERNET INVESTMENT 0.42 0.5
12.7% 14.3%
- EMPLOYEES 21,000
</TABLE>
* current structure
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO]
HAVAS: A WORLDWIDE PUBLISHER
<TABLE>
<S> <C> <C>
EDUCATION BUSINESS &
SALES: 1,354 M(EURO) GENERAL
EBITDA: 180 M(EURO) INFORMATION
SALES: 902 M(EURO)
EBITDA: 145 M(EURO)
HEALTHCARE
GAMES INFORMATION LOCAL SERVICES
SALES: 401 M(EURO) SALES: 448 M(EURO) SALES: 365 M(EURO)
EBITDA: 80 M(EURO) EBITDA: 60 M(EURO) EBITDA: 35 M(EURO)
</TABLE>
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] OUR STRATEGIC DRIVERS
- CONSOLIDATING OUR LEADING POSITION THROUGH PROFITABLE GROWTH, OPERATIONAL
SYNERGIES, AND CONTINUOUS COST REDUCTION:
-- Focus on growth markets in leveraging intellectual property on a
global basis
-- Accelerate our internet developments
-- Leverage our successful integration and development of synergies
with recent major acquisitions (HII and MMI)
-- Benefit from the high level of synergies with Universal content
-- Increase cash generation
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] A MULTI-PLATFORM STRATEGY
<TABLE>
<CAPTION>
[BOOK GRAPHIC] [CD GRAPHIC] [PHONE @ COMPUTER GRAPHIC]
PRINT MULTIMEDIA INTERNET
WAP PDA
----------------------------------------------------------------------------------
<S> <C> <C> <C>
-- PC Games na #1 ww Flipside.com
----------------------------------------------------------------------------------
-- Education #5 ww #1 ww Education.com
----------------------------------------------------------------------------------
-- Healthcare #3 ww #1 drug Atmedica.com
info.
----------------------------------------------------------------------------------
-- Business & Cadres Online
General Information #2 Europe ns 01.Net
----------------------------------------------------------------------------------
-- Local Services #1 France ns bonjour.fr
----------------------------------------------------------------------------------
</TABLE>
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] INTERNET IS A LARGE GROWTH OPPORTUNITY
- To generate new revenue: new markets (elearning) and services
- To focus on internet business models which lead to profitability
- To drive print assets into electronic era with a << first mover >> attitude
- That's why we are focusing our investments on our core markets: no pure
financial investment but 116 m (euro) invested in 2000 in our core business
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] AGENDA
- 1 - Havas Group
- 2 - SYNERGIES
-- Our contribution to Vivendi Universal Synergies
-- 3 Year Plan
- 3 - Business description and two examples of web Strategy
-- Education.com
-- Flipside
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] OUR COMMITMENT FOR SYNERGIES
- Important and immediate fit between Management and Team due to common
culture and know-how
- Content combination & games synergies (2003)
- revenue :(euro) 200 - 250 m
- ebitda: (euro) 50-75m
- Pursue additional overhead reductions 10 m (euro)
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] LIST OF "TOP 10+" CONTENT COMBINATION
OPPORTUNITIES
<TABLE>
<CAPTION>
Proposed long term
Revenue synergy opportunities Impacted Business Lever(s) business owner
----------------------------- -------------------------- --------------
<S> <C> <C>
0 Cross promote 2-4 high priority VU Improved loyalty, brand USI Corp Mktg., then
content and product brands wareness and positioning future central org.
1 Multi-content Kiosk ~1,200 kiosks in 2003, UMG Global E
potentially a Vizzavi outlet
2 Self publish/license off-line games Incremental games revenue; UIS, Havas Interactive
Capture publishing revenues
3 Park Concierge Device ~300k(1) add. annual park Universal Recreation
visitors, cross-promotions,
yield management
4 Musical/theatrical and travelling Ticket sales, brand/portfolio USI, Uni. Recreation &
shows building Entertainment
5 Product Bundles/Partworks Incremental revenue and Havas Publishing
margin on product bundles
6 Music and Education Incremental sales & reach Havas Interactive
into "edutainment" space
7 TV shows/videos/soundtracks from Incremental rev., brand Uni Fam&Home Ent.,
games/education characters building Canal+
8 Packaging and Foreign Language Incremental revenue, brand Havas Publishing
Learning building
9 Enhance and promote Flipside Increase traffic by 8-11M Flipside
subscribers, increase
advertising revenue
10 Music and Sports Incremental product sales UM Intl, Canal+
</TABLE>
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] PRODUCT BUNDLES/PARTWORKS
- PRODUCT BUNDLES: generate incremental EBITDA by leveraging Havas and
Universal existing content, across categories
-- Bundle together CDs / books / games / videos to create value
added content extensions.
-- In 2003, 2 bundles / year, annual revenue of $ 2 m and EBITDA
margin of 70%.
- PARTWORKS: increase revenues and EBITDA in a worldwide market of $ 1.2 bn,
via new product ranges, leveraging reference know-how and existing retail
networks in Europe and Latin America
-- Create new continuing series of publications (15 - 70) on print +
CDs / DVDs / videos, using music, film and TV properties.
-- In 2003, one series at a time, annual revenue of $ 18 m and
EBITDA margin of 50%.
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] BOOK PACKAGING
AND FOREIGN LANGUAGE LEARNING
- BOOK PACKAGING: generate incremental revenues by creating and selling books
to publishers around the world, using characters and content
-- set a new publishing house in the UK, leveraging existing
infrastructure and packaging know-how.
-- In 2003, 20 titles / year and annual revenue of $ 10 m, with 15%
EBITDA margin.
- FOREIGN LANGUAGE Learning opportunity: consolidate Foreign language
Learning position with new brand: Universal English
-- Launch a new concept of Foreign Language Products using movie, TV
and music clips.
-- Leverage Havas Know how on e-learning
-- In 2003, 15 products, annual revenue of $ 5 m and EBITDA margin
of 15%.
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] MUSIC AND EDUCATION
- INCREASE INTERACTIVE EDUCATION WORLDWIDE MARKET SHARE BY EXTENDING
MULTIMEDIA PRODUCT RANGES.
-- Launch in 2002 a new concept teaching music to teens
interactively. It will use famous Universal artists and labels
and popular Havas education characters (eg learn music and rythm
with Jumpstart, 6 skus).
-- In 2003, 30 products, annual revenue of $ 35 m and EBITDA margin
of 15%.
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] SELF-PUBLISH/LICENCE OFF-LINE GAMES
- Capture off-line game revenue and EBITDA synergies between Havas and
Universal, in development, licencing, publishing and distribution.
- Publish games that otherwise would not be made and self-publish games that
otherwise would have been outsourced (eg Spyro, Bruce Lee ...).
- In 2003, 8 titles, annual revenue of $ 50 m and EBITDA margin of 20%.
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] HAVAS PLAN (IN [ ] BILLION)
(EXCLUDING SYNERGIES)
<TABLE>
<CAPTION>
2000 E AGR 00/02
------------------------------------------------------------------
<S> <C> <C>
NET SALES w/o internet 3.5 + 6%
------------------------------------------------------------------
EBITDA w/o internet 0.5 > 10%
------------------------------------------------------------------
PRE-TAX OPERATING FREE CASH-FLOW: > 0.4/year
------------------------------------------------------------------
</TABLE>
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] OUR LEVERAGE:
WE ARE POSITIONED ON GROWTH MARKETS
- CONSUMER SPENDING ON KEY CONSUMER INTERESTS : education, healthcare, games
- ADVERTISING MARKETS : classified, jobs, pharmaceuticals, BtoB
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] AGENDA
- 1 - Havas Group
- 2 - Synergies
-- Our contribution to Vivendi Universal Synergies
-- 3 Year Plan
- 3 - BUSINESS DESCRIPTION AND TWO EXAMPLES OF WEB STRATEGY
-- Education.com
-- Flipside
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] HEALTHCARE: LEVERAGE UNIQUE ASSETS
- 2000 sales : 448 M(EURO) [atmedica WEB GRAPHIC]
- 2000 EBITDA : 60 M(EURO)
- #3 WW, #1 WW in drug info.,
#1 US for patient info
- pharma oriented, unique
geographic network
(35 countries)
- focus on patient
education / atmedica
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] BUSINESS AND GENERAL INFORMATION:
SUCCEED IN THE WEB MIGRATION
- 2000 sales : 902 M(EURO) [Barbour Index WEB GRAPHIC]
- 2000 EBITDA : 145 M(EURO)
- #2 in Europe for BtoB info
- a media neutral coverage
- leading web positions
(recruitment, IT,
construction...)
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] LOCAL SERVICES:
BUILD UP A TRANSACTIONAL PLATFORM
- 2000 sales : 365 M(EURO) [SCOOT WEB GRAPHIC]
- 2000 EBITDA : 35 M(EURO)
- #1 in France in print/web
- National salesforce and
marketing database
- key partner for Scoot's
European roll-out of
transactional model
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] EDUCATION & KNOWLEDGE:
A GLOBAL PLAYER
- 2000 sales : 1,354 M(EURO) [SOFTWARE GRAPHIC]
- 2000 EBITDA : 180 M(EURO)
- SCHOOL : leading position
in K-12 in France, Spain,
Latin America
- KIDS : #1worldwide in
electronic
- E LEARNING : strong growth
potential
- REFERENCE : a ww player
(Larousse)
- GENERAL LITTERATURE :
#1 in France
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] EDUCATION.COM IS THE ONLY GLOBAL INITIATIVE THAT
ADDRESSES 3 TARGET AUDIENCES SIMULTANEOUSLY
- CORE TARGET : PARENTS (CARETAKERS)
-- direct purchasing
-- recommendation to children
-- end-use
[KIDS, PARENTS, TEACHERS CIRCULAR GRAPHIC]
- SECONDARY TARGET : CHILDREN
-- end-use (main target)
-- recommendation to parents and to other children
- COMPLEMENTARY TARGET : TEACHERS
-- recommendation to parents and children
-- end-use
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] EDUCATION.COM IS THE MOST IMPORTANT GLOBAL
CROSS-ROADS FOR CONTENT, SERVICES AND COMMUNITY
- GLOBAL PUBLISHING RESOURCES
LEADING OFF-LINE GLOBAL MULTIMEDIA BRANDS
<TABLE>
<S> <C> <C> <C> <C> <C>
USA FRANCE UK GERMANY SPAIN BRAZIL
[COUNTRY [COUNTRY [COUNTRY [COUNTRY [COUNTRY [COUNTRY
GRAPHIC] GRAPHIC] GRAPHIC] GRAPHIC] GRAPHIC] GRAPHIC]
INTERNAL
HII ATICA
HER SCIPIONE
HII NATHAN
KINGFISHER LAROUSSE CHAMBERS
BORDAS KINGFISHER ANAYA
LAROUSSE LAROUSSE
--------------------------------------------------------------------------------------------------
BROCKAUS/
TAGTEACHERNET DUDEN
UNIVERSAL STUDIOS THORNES NELSON ELTERN WOLF/
UNIVERSAL MUSIC KNOW.UK, WESTERMAN
... SCHROEDEL/
TEACHERNEWS
KLETT,...
EXTERNAL (DISCUSSIONS IN PROGRESS)
</TABLE>
education.com [VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] A BALANCED REVENUE MODEL
[BAR GRAPHIC]
<TABLE>
<CAPTION>
(%) 2001 2002 2003
<S> <C> <C> <C>
(Dollars in Thousands)
Subscription Revenues 45% 39% 35%
Advertising Revenues 19% 17% 17%
E.Commerce Revenues 37% 44% 48%
Total revenue $8 mil $20 mil $30 mil
</TABLE>
- Subscription: drawing on current successful model of Adi on line (virtual
classes and testing): 6,000 subscribing families in France
- Advertising: monetizing a targeted audience base
- E-commerce: leveraging the ww #1 position in interactive education
- Break even : H2 2002
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO]
- Education : one of our key markets for profitable web developments...
- Games : a key worldwide market for Havas with an already strong web
position
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO] GAMES : A LEADER ON ALL PLATFORMS
- 2000 sales : 401 M(EURO) [GAME SOFTWARE GRAPHIC]
- 2000 EBITDA : 80 M(EURO)
- #1 WW on PC
- Consistently awarded best
game of the year (Diablo,
Warcraft)
- Universal Interactive
(40 m (euro) Ebitda) and
estimated Synergies 15 m (euro))
- Flipside success, 8% reach
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO]
[flipside.com LOGO]
A LEADER IN
ONLINE INTERACTIVE GAMES
[VIVENDI UNIVERSAL LOGO]
<PAGE>
FLIPSIDE.COM: A RECIPE FOR SUCCESS
[HAVAS LOGO]
- ONLINE GAME IS THE FASTEST GROWING MASS MARKET CONTENT ON THE INTERNET:
- large scale of viewership, good stickiness and unique
targeting opportunities
- FLIPSIDE.COM: A LEADER IN THE ONLINE GAME MARKET
- a product of the merger Won.net (exclusive content and
technologies) with Prize Central (profitable business model),
which accelerated their combined growth
- FLIPSIDE.COM WILL EXPAND ITS LEADERSHIP GEOGRAPHICALLY AND ACROSS
MULTIPLE PLATFORMS
- support of Vivendi's global network of alliances, including
the Universal properties
[FLIPSIDE.COM LOGO] [VIVENDI UNIVERSAL LOGO]
<PAGE>
ONLINE GAME MARKET IS EXPECTED
TO REACH $5 BILLION IN 2004
WITH 73M PLAYERS
[HAVAS LOGO]
ONLINE GAME MARKET SIZE
($ MILLIONS)
[BAR CHART]
<TABLE>
<CAPTION>
1999 2000 2001 2002 2003 2004
---- ---- ---- ----- ----- -----
<S> <C> <C> <C> <C> <C> <C>
US 58 160 540 1,080 1,990 2,810
Europe 24 87 339 755 1,433 2,126
---- ---- ---- ----- ----- -----
Total 82 247 879 1,835 3,423 4,936
</TABLE>
[FLIPSIDE.COM LOGO] SOURCE: DATAMONITOR [VIVENDI UNIVERSAL LOGO]
<PAGE>
BEATING BUSINESS PLAN ON THE 3 KEY
INDICATORS (3 R'S)
[HAVAS LOGO]
REACH
(Mmx)
[LINE CHART]
<TABLE>
<CAPTION>
Mar Apr May Jun Jul Aug Sep Oct Nov Dec
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Actual 5.10% 5.20% 5.70% 6.10% 6.10% 8.10%
Goals 4.10% 4.20% 5.40% 5.60% 5.80% 6.00% 6.20% 6.50% 7.50% 8.00%
</TABLE>
REGISTRATIONS
(millions)
[LINE CHART]
<TABLE>
<CAPTION>
Mar Apr May Jun Jul Aug Sep Oct Nov Dec
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Actual 4,099 4,350 4,866 5,456 6,059 6,610
Goals 4,120 4,745 5,370 6,037 6,703 7,370 8,107 8,844 9,265
</TABLE>
MONTHLY REVENUE
($ m)
[LINE CHART]
<TABLE>
<CAPTION>
Mar Apr May Jun Jul Aug Sep Oct Nov Dec
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Actual 1,674 1,696 1,717 1,982 1,906 2,079
Goals 1,400 1,533 1,533 1,533 1,833 1,833 1,833 2,133 2,133 2,133
</TABLE>
[FLIPSIDE.COM LOGO] [VIVENDI UNIVERSAL LOGO]
<PAGE>
A LEADER IN ON LINE GAME AND
A TOP 15 SITE IN TERMS OF TOTAL TIME SPENT
[HAVAS LOGO]
<TABLE>
<CAPTION>
RANK WEB PROPERTY MILLIONS OF HOURS
<S> <C> <C>
1 YAHOO SITES 197.2
2 AOL SITES 169.8
3 MICROSOFT SITES 103.5
4 eBAY 87.5
5 iWON, INC. 71.3
6 EXCITE NETWORK 36.7
7 LYCOS 29.5
8 WDIG 24.5
----------------------------------------------------------
9 FLIPSIDE.COM 20.6
----------------------------------------------------------
10 POGO.COM, INC. 19.9
11 ALTAVISTA NETWORK 17.9
12 CNN 12.3
13 NBC INTERNET 12.1
14 eTOUR, INC. 11.4
15 AMAZON.COM, INC. 10.3
</TABLE>
PC Data, August 2000 On Mediametrix, N(degree)12
[FLIPSIDE.COM LOGO] [VIVENDI UNIVERSAL LOGO]
<PAGE>
"FLIPS" : AN OUTSTANDING LOYALTY PROGRAM
[HAVAS LOGO]
- A simple rewards system that increases traffic and duration on the site
- An efficient profiling tool allowing targeted advertising and direct
marketing :
- Banners targeted by age, gender, location,
- e-mail programs
- Integration of member profile for ad serving & ad sales
- A proven model to lower acquisition costs and boost CPM
[FLIPSIDE.COM LOGO] [VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO]
"FLIPS" : A KEY PROFIT DRIVER
LOWER COST
PER HIGHER REVENUE
REGISTRATION PER USER PER MONTH
[ARROWS GRAPHIC] MORE
PROFIT
HIGHER RETENTION
[FLIPSIDE.COM LOGO] [VIVENDI UNIVERSAL LOGO]
<PAGE>
EVOLUTION OF REVENUE MIX
BREAK EVEN IN Q2 2001
[HAVAS LOGO]
[Bar Chart]
<TABLE>
<CAPTION>
Q1 00 Q4 01
<S> <C> <C>
Direct Marketing 24% 40%
Earn Tokens Advertising 1% 14%
Sponsorships 6% 22%
Interstitial Advertising 2% 8%
Banner Advertising 64% 12%
</TABLE>
[FLIPSIDE.COM LOGO] [VIVENDI UNIVERSAL LOGO]
<PAGE>
KEY FIGURES
[HAVAS LOGO]
- Expected 2000 revenue : $ 20m
- Expected 2001 revenue : $ 49m
- Break even point : H2 2001
[VIVENDI UNIVERSAL LOGO]
<PAGE>
A MEDIA NEUTRAL STRATEGY
[HAVAS LOGO]
- BECOME THE LEADING HOUSEHOLD NAME IN THE ONLINE GAME SPACE
- EXPAND OUR LEADERSHIP POSITIONS GEOGRAPHICALLY AND ACROSS MULTIPLE
PLATFORMS
[TELEVISION GRAPHIC] - INTERACTIVE TELEVISION
- 7 MILLION CANAL+ SET TOP BOXES IN EUROPE
- COMBINING LIVE TV SHOWS WITH ONLINE
MULTIPLAYER GAMES
[MOBILE TERMINAL GRAPHIC] - ONLINE ON MOBILE TERMINALS
- PLAY, GET NEWS ANYTIME ANYWHERE (ARROW) HIGH
LOYALTY
[CONSOLE GRAPHIC] - CONSOLE
- CONSOLES POISED TO REPRESENT A KEY ACCESS
DEVICE AS EARLY AS 2003
- VIZZAVI
- ACCESS TO MASS AUDIENCE 80 MILLION VIZZAVI
CUSTOMERS
- CONSIDERABLE RESOURCES
- LEVERAGE FLIPS TO INCREASE TRAFFIC, RETENTION AND
REVENUES OF ALL VIVENDI UNIVERSAL SITES
[FLIPSIDE.COM LOGO] [VIVENDI UNIVERSAL LOGO]
<PAGE>
[HAVAS LOGO]
AS A CONCLUSION
[VIVENDI UNIVERSAL LOGO]
<PAGE>
WHAT HAVAS CONTRIBUTES TO VIVENDI UNIVERSAL
[HAVAS LOGO]
- A traditional publisher focusing on multi platform and profitable web
developments
- Huge opportunities in Games & Edutainment with Universal
- Strong customer bases
- Intellectual properties and high value contents
- ...and strong and growing free cash flow (80% of EBITDA)
[VIVENDI UNIVERSAL LOGO]
