Lettre-GB-avril-2002 6/06/02 10:22 Page 1

letter to our shareholders

APRIL 2002 "REAPING THE BENEFITS OF RIGOROUS MANAGEMENT" S U M M A R Y La ga rd è r e Media's operating prof its for 2001 wer e up more tha n 10% over 2000. With adver tising in the doldrums – especially in the Uni t ed Sta t es –, many media groups announced a fall in Highlights p.02 pro f its compa r ed to the previous yea r . On the other hand, only a 2001 Annual Results ver y small number wer e able to produce a double-digit rat e of growth . HACHETTE FILIPACCHI MEDIAS p.03 Version Femina The perfor mance of Lagard è r e Media has its basis in solid Afghan Women ad va n t a ge s : Exemplary Women LAGARDERE MEDIA • st r ong compe t i t i v e positions, the better to wea t her the storm ; p.04 / 05 Lagardère Media Abroad • a well-balanced portf olio of business activities, achi e ved in HACHETTE LIVRE pa r ticular tha n k s to those activities not affec t ed or only slightly p.04 / 05 af fec t ed by cha n g es in the adver tising market ; Acquisition of Octopus Families on Top Loads of Advice • pr oper execution of the cost cutting prog ram launched in March 20 0 1, that will be continued at least until the end of 2003. LAGARDERE ACTIVE p.06 Fur the rm o r e, the strict investment discipline that has been Match TV settles in E.D.I. becomes Lagardere Active imp l e m e n t ed over the past few years has provided prote c t i o n Radio International (LARI) ag ainst the risk of having to write- d o wn assets that wer e ac qu i r ed above their real value. It also enabled the pres e r va t i o n HACHETTE DISTRIBUTION SERVICES p.07 of an extrem e l y solid financial position. The Group in fact has a Virgin po s i t i v e net cash surplus. EADS p.08 In conclusion, LAGARDERE is in a highly favor able position. The EADS Exceeds Its Targets continued implementation of the cost-cutting plan will prod u c e amp l i f ied effects in 2002 and 2003, which, of course, will prote c t MATRA AUTOMOBILE fu t u r e growt h or perhaps even accelerat e it. Then, the absence of p.08 A campaign featuring the Avantime! debts will enable the compa n y to fund the acceleration of its M72 de velopment and, within this fram e work, seize approp r i a t e op p o r tunities for acquisitions, when the y present the m s e l ves . LAGARDERE MEDIA p.09 Generational Questions The market has recognized this, and responded with an increa s e Fondation Hachette in the LAGARDERE share price since the beginning of the yea r that is higher than both the "DJ Stoxx Media", the media sector SHAREHOLDERS' NOTEBOOK p.10 index, and the gen e r al Fren c h business index, the "CAC 40".

P01 Lettre-GB-avril-2002 6/06/02 10:22 Page 2

H i g h l i g h t s 2001 Annual Results LAGARDERE MEDIA REPORTS OPERATING INCOME GROWTH OF 10.4 % (*) E Sales (in million ) CONSOLIDATED REVENUES The consolidated revenues for the year 2001 attained 13,295 M (c o mp a r ed to the pro- fo r ma 2000 sales of 11,875 M ), an increase of 12. 0 % . La ga rd è r e Media revenues rose 6.5% to 7,668 M . This increase comes fr om the solid perfor mance realized by the Distribution & Services and Book divisions. Sales of the "Auto m o b i l e " segment declined by 3.6%. Ho wever , Matra Aut omobile maintained its leadership in the Fren c h and Eu r opean markets for the high-end mini-van segment. The strong growt h in the High Tec h n o l o g y revenues comes from all the activities (with the ex ception of the Space Division) and especially the Airbus Division which includes the consolidation of 100% of the Airbus activities in 2001.

CONSOLIDATED OPERATING INCOME GROWTH OF 8.4% (on a pro- fo r ma basis) E Operating Income (in million ) • L a ga rd e re Media operating income grew by 9.3% to 353 M . In th i s d i fficult global economic context, the significant increase in opera t i n g income re flects the successful implementation of L a ga rd è re Media' s o rganic grow th and pro fitability imp rovement plan launched in 2001.

• As anticipated, the 2001 financial results wer e affec t ed by a signific a n t in c r ease in the Res e a r ch & Development spending, especially those linked to the A380 prog ram and to the final step of A340-500/-600 devel o p m e n t . At the same time, EADS’s operating income benefit ed from the 100 % consolidation of the Airbus activities in 2001 versus 80% in 2000. In total, the EADS contribution to the consolidated accounts was +104 M in operating income (compa r ed to +68 M in 2000 on a pro- fo r ma basis) and +470 M in net income (against -49 M in 2000 on a pro- fo r ma basis).

• The Auto m o b i l e segment rep o r ted an operating income of + 66 M wh i c h is slightly below the 2000 fig u r e (+ 71 M ). This decrease results from the cost of launching the new model Avantime (d e l a yed until December 2001) as well as a reduction of the sales of the Es p a c e mi n i - v an in the later part of 2001. Despite these two unfavor able events, the prof itability of Matra Aut omobile remained strong as a result of a favor able mix of higher margin products as well as the growt h of diver s i f ication revenue including engineering.

(*) Including the impact of the additional three months of activity for Lagardere Active Broadcast (December close instead of a September close historically), Lagardère Media’s operating income growth was 9.3%. NET INCOME E Net Income (in million ) Considering notably : • Non - re c u r ring events as the gain rec o r ded on the sale of the EADS “Exce s s Sh a r es” in January 2001 (+ 210 M befor e taxes), the provision for depre- ciation of the T-Online shares (- 157 M befor e taxes) rec o r ded in the fir s t half of 2001, the gain recognized by EADS fol l o wing the creation of Airbus SAS which amounts to a gain of +441 M for the Lagard è r e accounts, the imp a i r ment of various goodwill and other intangibles for - 42 M , as wel l as provisions for res t r ucturing for -99 M of which - 66 M is for the activi- ties of Media and Auto m o b i l e ;

• Goodwill amortization increased from 61 M in 2000 (on a pro- fo r ma basis) to 121 M in 2001 essentially as a result of the full year impact of the amortization rel a t ed to the buyout of the Hache t t e Fil i p a c c hi Médias minority stoc kholders and EADS for the remaining porti o n . The CONSOLIDATED NET INCOME attained 616 M (compa r ed to 528 M in 2000 on a pro for ma basis).

SOLID BALANCE SHEET The net bank debt at 2001 year end of 219 M is to be compa r ed with the Consolidated Net Wor th of 4,328 M .

We remind you that the whole of the documents put at the disposal of the market on the occasion of the publication of 2001 Annual Results (press release and documents pres e n t ed during the analyst meeting on 21 march) can be co n s u l t ed on the LAGARDERE site at the fol l o wing address: ht t p : / / w w w. l a ga rd e re . c o m / u s / i n fo _ fi n a n c i e re s / d e t a i l _ a c t u . c f m ? i d n = 2 4 7 3 & i d t = 81 & n av = 0

P 02 Lettre-GB-avril-2002 6/06/02 10:22 Page 3

25 ans Magazine HACHETTE FILIPACCHI MEDIAS Version Femina in Korea

Ana Rosa Sells Launch of Version Femina Like Hotcakes Version Femina, the first Euro p e a n Women's Wee k l y Magazine, is sold at n ewsstands as a supplement to 32 regional daily newspapers thr ough the wee ke n d . Wi t h a distribution of 3.6 million copies Hachette Next Media, (9.2 million devot ed readers), Ver s i o n a joint venture Femina is devot ed to glamour and created by Hachette Filipacchi Médias and Launched in October, pr actical issues and has borrowed the best the Korean group AR is based on a fea t u r es from two women's magaz i n e s , Next Media, launched concept invented in Version Femme and Femina Hebdo. the Korean version of the USA, which draws From Version Femme, it gets its fem i n i n e the magazine 25 ans readers through the in February. The to u ch with cover pages highlighting name recognition of monthly’s a celebrity. AR celebrities and stars and a current wee k l y introduction marks exceeded everyone’s ne ws stor y. The practical side of Ve r s i o n the first foreign spin- wildest hopes. All F e m i n a, its quality and we a l th of off of the Japanese told, the first issue i n fo rmation and its column conte n t magazine of the sold over 600,000 same name, copies. This high (c o vering cuisine, fashion, beauty, health, published by "score" for its debut ch i l d ren, psych o l o g y, tourism, law, Hachette Fujingaho issue makes AR’s mo n e y, etc.) come from Femina Hebdo. (a fully-owned HFM launch the most Version Femina will also reg u l a r l y run F e m m e and will continue F e m i n a subsidiary). Hachette successful in Spain in Next Media already the last 20 years. (once a month to start) the special- He b d o 's regional column for the wee k l y publishes the Korean www.ar-revista.com in te r est column that appeared in Ve r s i o n dailies that it had previ o u s l y fea t u re d . editions of ELLE and Première.

Afghan Women Exemplary EDIF L a u n ch of the Woman’s Magazine R O Z Women in Kabul

The woman's magazine Ro z (D a ylight) has just been launched in J a ck Klige r, the ch a i rman and CEO of Kabul with the support of Hache t t e Fil i p a c c hi Médias, whose H a ch e t te Fi l i p a c chi Magazines INC , decision to become invol ved with the project helped to make welcomed Laura Bush and Libby Pa t a k i the magazine a rea l i t y . The world's leading magazine publisher ( the wife of the gove rnor of New Yo r k ) marshalled its magazine press expertise and intern a t i o n a l to the first awa rds cere m o ny for th e experience in aid of a charitable cause. EL L E ma g azine and its " E xe mp l a ry Women" trophies. Eight ed i t orial staff set up the project, which was designed to give e xceptional women invo lved in social Afghan women a new source of infor mation, knowl e d g e and or humanitarian work we re honoure d en te r tainment after years of silence and oppression. This on the occasion by the maga z i n e In January Hachette mobilization of editorial staff is in keeping with the magaz i n e ' s Woman's Day. Filipacchi Médias has tr adition, ever since its creation, of supporting initiatives aimed acquired 100% of the capital of EDIF at impr oving the conditions of women thr oughout the world. (Edizioni Italo Francesi). The magazines ELLE and ELLE Decor Italy are now wholly owned by Hachette Rusconi which is now involved in every segment of the general magazine press. In Italy, HFM is the top foreign publisher and the third-largest press group.

P 03 Lettre-GB-avril-2002 6/06/02 10:22 Page 4

USA and Canada 20% LAGARDERE MEDIA Lagardère Media Abroad

1/ Germany, Hungary, Luxembourg, Poland, Czech Republic, Rumania 2/ Argentina, Brazil, Chile, Colombia 3/ Germany, the Netherlands, Switzerland 4/ Hungary, Poland, Czech Republic, Rumania, Ukraine 5/ Taiwan, Singapore, Thailand 6/ Germany, Belgium, Switzerland 7/ Bulgary, Hungary, Poland, Czech Republic, Rumania, Slovakia, Yugoslavia

Press (magazines and "PQR")

(2 )

Press Distribution Travel Retail

H A C H E T T E L I V R E Acquisition of Octopus

Hachette Livre has acquired the British publisher Octopus Publishing group. The takeo ver of the top independent –half earned inte rn a t i o n a l ly (30% in publisher of illustrat ed books in the Uni te d Eu r ope, 10% in Nor th America)– 250 Kingdom marks a new step in Hache t t e e mp l oyees, 250 titles published Li v r e’s inter national development, wh i c h an n u a l l y, over 500 authors, a catalogue had already been demonstrat ed by the of 100,000 titles and ownership of most ac q uisitions of Or i o n and Cassell in 199 8 , of its photog raphic librar y. With the and the Spanish academic publisher ac q uisition of Oc t o p u s , Hache t t e Livre Br uño last May. Founded by the eminent boasts turno ver of rou g h l y 180 million e d i tor Lord Paul Hamlyn in 19 71, Eu r os (FRF 1.2 billion) in Great Britain, Oc t o p u s co m prises six trade publishing placing it fou r th in sales in the country. houses (ge n e ral public and non- Ev en more impo r tant, the Oc t o p u s an d academic). In addition to these six Orion pairing now ran k s No. 1 in the "houses", Octopus has diver s i f ied into British market in the fields of antique s t wo other areas: Octopus Television and archi te c t u r e, and No. 2 for art books. (c r eation of documentary TV series) and Ob s e r v ers give Hache t t e a 25% share of Digital Octopus (m a r k eting of digital the British illustra ted book marke t , c o n tent). O c t o p u s’s numbers are as wh i c h makes it the top gen e ra l - i n te re s t fol l o ws: turno ver of over 68 million Euros pu b l i s h e r s .

P 04 Lettre-GB-avril-2002 6/06/02 10:22 Page 5

France 44%

(6 ) (3 ) (1 ) (6 ) (7 ) (4 )

(7 )

Other Countries 4%

(5 )

Europe 32%

Families on Top

The Les Pratiques de Top Famille Magazine collection, co- published by Editions Fil i p a c c hi and Desclée de Brou we r , de b u t ed in early January. The fiv e books are written to help and advise parents, but stop short of handing them hard- a n d - fa s t rules. Titles of the new collection include Household Chores, When Your Teenager Takes Drugs and The Overweight Child. Loads of Advice

In early January, Hache t t e Prat i q ue and Santé-Vie launched a ne w collection of health guides, called 60 conseils : ten livel y, up - to - th e - m i n u t e titles covering contemp o ra r y topics. Chock- full of advice and solutions, the guides will focus on preven t i o n , he a l t hful living and non-traditional, gentle for ms of medicine. Sa m ple titles include Stress-beaters, Combating Headaches, Fully Fit and Getting the Sleep You Dream About.

P 05 Lettre-GB-avril-2002 6/06/02 10:22 Page 6

Audio LAGARDERE ACTIVE Match TV settles in

Launched last 10 December, Match TV has begun to hit MCM Gets Busy its stride.

Assessment and upcoming new Initial subscription ra tes are looking pro g rammes and events for Lagard e r e pr etty positive. The first audience rat i n g s Last March 12, Act i v e new station: the various shows are will be available during the thi r d swee p Mediamétrie The new Mezzo has published the results hitting their stride. For instance, J’y étais, of MediaCabSat next July. Some discussions been laucnhed of MediaCabSat’s ho s t ed by Frédéric Lopez, has wel c o m e d ar e on course with a view to distributing The new Mezzo is second survey, which sc o r es of guests (the attorn e y Verg è s , Ma t ch TV outside Fran c e . focusing on four includes cable and ac t r ess Marie-France Pisier, photog rap h e r ww w. m a t ch- t v. f r main themes satellite channel (classical music, jazz, Jean-Marie Périer, actor Jacques Perr i n , audiences, covering dance/opera and the September 2001- pe r for mer Artu r o Brac hetti and more) world music) and is a February 2002 and introduced two new columnists: synthesis of what period. Fat her de La Morandais and Philippe Muzzik and the old Mezzo did best. The Canal J still ranks third Go u gl e r . The show will even travel to among special- station is available in interest channels various major urban centres on a reg u l a r 25 countries and has among all viewer basis. Its first off- s i t e for ay was sche d u l e d 1.5 million groups, earns it the for 1-5 April in Lyons. The team is also subscribers in France (via CanalSatellite, top spot for youth- planned to go on location for a few days oriented special- TPS, France Telecom interest channels. at the Cannes Film Fes t i va l . Câble, Noos, NC Even better, TiJi is Numericable...) and making a strong 7 million in Europe. debut: its audience www.mezzo.fr and share shot up by over www.mezzo.tv 20% among 4- to E.D.I. becomes Lari 10-year-olds, to 3.5%. Canal J and TiJi capture 35% of the What’s New in audience for youth- FM Radio oriented special- interest shows. The birth of Lagardere Active Radio International On the music side, MCM has a firm hold In early January, Europe Dével o p p e m e n t names, for mats and market positions, on its position as the I n te rnational “activa ted” itself and but th ey use the same re s e a rch , top cable and satellite music became Laga rd e re Ac t i ve Ra d i o or ganizational and marketing metho d s . As of February, RFM’s channel among In te r national (LARI). This subsidiary, in LARI is the number-one radio operato r , repositioning, which viewers aged 4 and cha r ge of developing the group’s rad i o wi t h 25% of the adver tising market, in began in mid- November, is no up, 15- to 24-year- activities abroad, is run from Paris. LAR I Ce n t r al and Easter n Europe. olds and 15- to longer leaving 34-year-olds. has facilities in eight countries Outside Europe, LARI has inves t ed in anything to chance. ( G e rm a ny, Hunga ry, Lu xe m b o u rg , So u t h Africa by acquiring a stake in the The station has a GMT Productions Poland, South Africa, the Czech Rep u b l i c , top radiostation in Johannesburg and new, more “active” logo, a new format GMT Productions has Romania and Russia/CIS). It curren t l y Pre t oria: Jacaran d a . begun filming the and a new signature mini-series Jean en c o m passes 17 radio stations, 1,0 0 0 In the view of Jean-Christophe Lestra ("The best of music"), Moulin in early March. people and nearly 400 broadcast points –G e n e r al Manager - : “Now we have to tailor-made for its It is scheduled to air serving a total population of more tha n st re n g t hen our position, and perhaps to new target: 30- to in September on TF1. 45-year-olds. RFM is 200 million individuals, which adds up to p e n e t ra te new countries, if th e the ‘inter gen e ra t i o n a l ’ TNT on the Net a total audience of 23 million people per op p o r tunity arises.” musical bridge Lagardère Media da y. The radio stations all have differe n t be t w een Europe 2/NRJ presents Focus on TV and Nostalgie,” says (h t t p : / / w w w. l a ga rd e r e Christophe Sabot, .fr/tnt), an interactive Images International general manager of flash site where you Europe 2 & RFM. • Joséphine Ange Gardien (DEMD Productions), can find answers to Eu r ope Images Inter national, a prog ram m e As far as Europe 2’s sold to the Série+ channel in Canada. all your questions ac q uisition and distribution compa n y, has clinched a position is concerned, • Champions de la nature (animal documentary), about television. The number of sales to tel e vision stations over the last it represents an purchased by the Discovery International channel. site – also available in se ver al months. Below is a list of the most rec e n t : objective unto itself: • Belphégor (animated series) sold to the Forta English – is divided • Fabio Montale (GMT Productions), sold in Russia to be the music and channels in Spain. into ten sections, and the Czech Republic. general-interest • 100 one-hour cultural programmes sold to the which are rounded • Julie Lescaut (GMT Productions), sold to the challenger against ArtsWorld channel in Great Britain. out by a glossary and Brazilian channel Globosat. the leader. a list of useful links.

P 06 Lettre-GB-avril-2002 6/06/02 10:22 Page 7

H A C H E T T E D I S T R I B U T I O N S E R V I C E Virgin Roaring success for the Mega sto re launches in M o n t p e l l i e r (end of November 2001), Nice (December 2001) and Toulouse (April 11, 2002). Qu e s tions to Frédéric Cazaux, Manager of the Vir gin stor e in Tou l o u s e :

Forthcoming What is the strong point at Virgin Tou l o u s e ? at all levels (organization, mastering the launches © IDEUS MAKINA The service provided by compe t ent sales co mp u t er syst em, etc. ) . • Nantes Beaulieu st a f f who are friendly, helpful, pleasant The most impo r tant thing is to identify • Paris Barbès and atten t i ve . the needs and expectations of th e Status rep o r t on the first days of trad i n g ? people in Tou l o u s e . • Melun-Sénart

TO U T E S L E S T E N DA N C E S E x t re m e ly busy, with over 8,000 A few wor ds in conclusion? D EL A P L A N È T E, L’ACT U A L I T É che c kout transactions: it was defin i te l y Along with the whole team, I am ver y Extensions D E TO U T E S L E S PA S S I O N S the place to see and visit! p roud and happy that our sto re • Dunkirk The fig u r es wer e ver y good. in a u g u r ation and first days of trad i n g What still has to be wo r ked at or wer e so successful. This is when the rea l • Belle-Epine sm o o t hed out? work starts: we now have to exceed our • Quatre Temps It will take 2 to 3 months for the basics t a rgets and satisfy the people of La Défense LI V R E - MU S I Q U E - V I D É O - MU L T I M É D I A - PA P E T E R I E and 6 months to be tot a l l y auton o m o u s Tou l o u s e !

Virgin Megastore Virgin Megastore Virgin Megastore Toulouse Montpellier Nice

© Charly Hel © Philippe Dureu i l © Jean-Pierre FIZET Virgin Megastore Toulouse Virgin Megastore Montpellier Virgin Megastore Nice in a few figures in a few figures in a few figures

• 45 employees 1 135 product • 38 employees 2 000 product • Floor space: 1,800 references • 40 employees Multimedia : • Floor space: 2 200 m2 references square meters on • Bookshop: • Floor space : 1,700 11 000 items sur 3 niveaux • Bookshop: 3 levels 55 000 books square meters (sales) 2 000 product • Music: 90 000 books • Music: 35 000 product on 2 levels references 60 000 records 40 000 product 90,000 records references • Music: • Bookshop: 23 000 product references • Stationery: 75 000 records 45 000 books references • Stationery: 30,000 product 24 000 product 20 000 product references 45 000 items • Video-Multimédia : 73 000 items 1 690 product references references Video: 4 200 product • Video-Multimedia: • Video-Multimedia: • Other: Video : references 17 000 items references • Other: Video: No net sound system 5 500 product • Other: 1 500 items 18 000 items 76 headphone points 5 000 product 25,0000 records for references No net sound digital playback 4 800 product Multimedia: system references references Multimedia: 92 headphone 10 000 items 65 headphone 10 000 items points points

P 07 Lettre-GB-avril-2002 6/06/02 10:22 Page 8

E A D S Exceeds Its Targets

EADS surpassed every one of its financial goals in 2001

Pr esentation of EADS annual results on March 18 highlighted a in v estment holdings. The Civil and Defense Syst ems division 27% increase in sales (the target was 20%) and a 21% increa s e m a n a ged to reduce its operating losses and should be in earnings from operations. Its EBIT (befor e depreciation of pro f itable during the second half of 2001. goodwill and extra o rd i n a ry entries) of 1.7 billion euro s surpassed its growt h target of 15%. Fur ther measures have been In the opinion of Philippe Camus and Rainer Hertr i c h, the CEOs ta k en to maintain the 2002 pre-R&D EBIT margin at the 2001 of EADS, "EADS is a ver y solid compa n y and we are continuing le vel, or rou g h l y 12%. The compa n y’s EBIT brea k d o wn is as to do what is necessary to prot ect the security of our future fol l o ws: 1.655 million euros against 1.4 12 million in 2000 in the pro f its and expand our defen s e - re l a t ed business." Airbus division, and a positive EBIT of 1 million euros in the Mi l i t a r y Tran s p o r t Planes division in 2001, pending the A400 M O ther fi g u res: earnings per share befo re goodwill and co n t r act, which will gen e ra t e exceptional growt h. The EBIT of ex ceptional entries rose to 1.1 6 euros, and at the end of 2001 the Aer onautics division climbed 4%, to 308 million euros (296 net cash flo w topped 1.5 billion euros. In addition, as it did for million in 2000), while its operations margin held steady at 6%. the 2000 business yea r , EADS’s Board of Direc t ors plans to The Space division rep o r ted operating losses of 222 million pr opose a dividend of 0.50 euro per share, e u ros, caused by high, non-re c u rrent expenses arising ref lecting the “great business successes of EADS in 2001.” e s s e n t i a l ly from the re s t ructuring and depreciation of

M A T R A A U T O M O B I L E A Campaign Featuring The Avantime

M72

During the Geneva Au to Show, th e since 19 6 7, the Matra M72 will be la u n c h of the M72 in the first half of di s t r i b u t ed by its traditional autom o b i l e 2003 was confir med. The sneak previ e w p a rtners. This means Renault will of a new version of the 50-hp “roa d s te r ” continue to enjoy a special rel a t i o n s h i p was pres e n t ed. The latter fol l o ws the wi t h the revi v ed brand. Other partn e r s , pr esentation at the last Mondial de Par i s fr om such new industries as rec re a t i o n a l of the Matra 20-hp M72 “concept car,” c o m m e rce, will also contribute th e i r wh i c h will also roll off the prod u c t i o n kn o w-h o w. Plans for anothe r , equa l l y lines of the Rom o r antin fac to r y. The fir s t i n n ova t i ve car we re also announced car market ed under the Matra name in Geneva.

ht t p : / / w w w. m a t ra 7 2 . c o m / i n d e x . h t m l

P 08 Lettre-GB-avril-2002 6/06/02 10:22 Page 9

L A G A R D È R E MÉDIA Generational Questions

Young people between the ages of 18 and 24 tend to have a lot to say – if you listen to them and take them seriously. That is exactly what Generational Questions set out to do.

The twenty young people, all between the ages of 18 and 24, Relations and Communication, explains: "We wan t ed to give rep r esent the new gen e r ation, the one that will take over in a some six million young people – usually reduced to statistics, few years – that is, the y will if adults can see their way clear to cl i c hés and to silence, for all practical purposes – a chance to giving them a proper hearing, because as things stand now, the ex p r ess the m s e l ves. About what? Whatever themes and top i c s ears of the older ge n e rations are all but closed. Such p re o c c u py them. Where? In the primary national daily in d i f fer ence is what promp t ed Arnaud Lagard è r e to give the s e ne wspapers, which the y ra re ly read the m s e l ves. How? By young people a public foru m . in te r v i e wing the public fig u r es of their choice, who wou l d oth e r wise be inaccessible to them." Taking advan t a g e of the pre- e l e c to r al period, when France is in a mood to debate and listen, Lagard è r e Media teamed up So France’s eight largest dailies – Le Monde, L’ E q u i p e , Les Echos, w i th the national daily press on an initiative dubbed La Croix, Le Figaro, l'Hu m a n i t é , la Tribune and Le Journal du Ge n e r ational Questions. Thierry Fun c k-B r entano, VP of Human Di m a n c h e – agreed to take part in Lagard è r e Media’s initiative. Th e y opened up their editorial pages and columns to the s e rep o r ter s - fo r- a - d a y, who set out to inter v i e w such Fren c h luminaries as prof essor Axel Kahn, banker Jean Peyre l e vad e , go ver nment minister Hubert Védrine, author Amélie Noth o m b , co a c h Guy Roux, musician Etienne Daho or rep o r ter Maryse Bu r got. “Generational Questions is all about meeting people,” explains Arnaud Lagard è r e. Readers meet 20 young people, chosen to rep r esent the diversity of their gen e r ation as well as its topics of inter est, wor ries, fads, dreams and audacity.

Hachette Foundation Bursaries 2002

Applications for Hachette Foundation Bursaries 2002 can be submitted up to June 17th! 2002: Promotion of the 100 t h awar d winner. speak Fren c h. Eve r y yea r , the Hache t t e Foundation awar ds six bursaries wor th To obtain an application for m, applicants may call now on a total of 150,000 euros to encourag e creativity in the writing, 0 825 05 47 53 or download a for m from the Hache t t e au d i o visual and digital prof essions. This yea r , for the thi r tee n t h Foundation's web s i t e at: ww w. fo n d a t i o n - h a ch e t te . o r g year running, the Hache t t e Foundation will once again help Application for ms should be ret u r ned no later than June 17, young prof essionals from all over the world to realize a 2002. For further infor mation, contact Stéphane Vigan d : cherished project in written fiction, film, documentary or digital cr eation. Applicants should be under thi r ty years of age and Tel. 33 (0) 1 40 69 18 84 - email: fon d h a ch e t te @ l a ga rd e re . f r Lettre-GB-avril-2002 6/06/02 10:22 Page 10

SHAREHOLDERS' NOTEBOOK

La ga rd e r e rel a t i v e to the CAC 40 and DJ STOXX MEDIA, fr om 1st January, 1999 to 24th April, 2002.

Lagardere Share

Stock Market Stock Market Paris Premier Marché - SRD

SICOVAM Code 13021

High (*) E54.85

E Low (*) 41.92

Number of shares at 1st January, 2002 138,668,672

Market capitalisation 7.26 (e billion) Average daily trading volume (**) 498,643

Dividends for 2001(***) Net : E0.78 Tax credit : E0.39 (paid from May 29, 2002) Gross : E1.17

(*) Since January 1, 2002 (**) Average from January to March 2002 (***) proposed at Shareholders' General Meeting on May 23, 2002

Source : DATASTREAM

Upcoming Events

• Sh a re h o l d e r s's General Meeting: Thursd a y 23 May, 2002 For further infor mation, please consult our site: ht t p : / / w w w. l a ga rd e re . c o m / i n fo _ fi n a n c i e re s / a c t i o n n a i re s _ a g _ p a rt i c i p e r. s h t m l

• Meetings to be held outside Paris (to be confirm e d ) : - Thursday 30 May: Gren o b l e - Tue s d a y 11 June: Nan te s - Thursday 10 October: Rei m s Contacts: - Tue s d a y 5 November: Nîmes Centre d‘information des actionnaires de Lagardère SCA 121 avenue de Malakoff 75216 Paris Cedex 16 Shareholders' Consultative Committee Telephone: 33.1.01.40.69.20.73. Internet : A wor k group devot ed to impr oving the means of communication towar ds individual shareholders met http//www.lagardere.com in January. Financial Information: Th r ee new members (Messrs André Balligand, Gérar d Clinqua r t, Ove Lange) attended their fir s t http//www.lagardere.com/us/ info_financieres/index.cfm Co n s u l t a t i v e Committee meeting on the occasion of the plenary session that was held on March 29. E.mail: The Committee will hold meeting in Octob e r . [email protected]