Deal Note: Gibson Dunn’s Media & Entertainment Group Represents Vivendi in Proposed Combination of the Businesses of Vivendi Games and Activision

December 5, 2007

Gibson, Dunn & Crutcher LLP’s Media & Entertainment Group is pleased to announce its representation of Vivendi in connection with the proposed combination of the businesses of Vivendi Games and Activision which will create Activision Blizzard, which will be the largest pure-play video game publisher. The transaction is valued at $18.9 billion. Upon consummation of the transaction, Vivendi will hold a 52% ownership interest in the combined business, which percentage could increase to as much as 68% depending on the results of a post-closing self-tender offer by Activision Blizzard.

The management of both companies hosted a joint conference call and live webcast on Monday, December 3, 2007. An audio replay of the call will be available through December 17, 2007 by calling (888) 203-1112 in the U.S. or (719) 457-0820 outside the U.S. and entering the pass-code: 5648597. In addition, a webcast replay also will be archived on the Investor Relations section of each company’s website.

Gibson Dunn’s team is led by Ruth Fisher, Co-Chair of the firm’s Media & Entertainment Practice Group, and includes Mark Lahive, Mary Ruth Hughes, Kristin Blazewicz and Ciara Stephens for corporate, Hatef Behnia and Afshin Beyzaee for tax, Ron Ben-Yehuda for intellectual property, Sean Feller for employment and employee benefits, and Sandy Pfunder, Joel Sanders and Rebecca Justice Lazarus for antitrust.

Details of this transaction are available on the Vivendi website.

Gibson Dunn’s Media & Entertainment Group comprises talented lawyers across our firm and practice areas who are among the most highly regarded in the converging media, entertainment and technology industries, offering a single “new media” platform that is unmatched in depth and scope among large law firms.

For additional information on this matter, please contact the Gibson Dunn attorney with whom you work, Ruth Fisher (310-557-8057, [email protected]) or Mark Lahive (310-552-8580, [email protected]) in Gibson Dunn’s Century City office, or any member of the firm’s Media & Entertainment Practice Group.

© 2007 Gibson, Dunn & Crutcher LLP

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