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Vivendi Selling USAi Warrants

2/12/2003 6:41 AM Eastern

Vivendi Universal notified USA Interactive Inc. Wednesday that it has entered
into an agreement to sell 28 million warrants to acquire shares of USAi common
stock, plus an option to acquire approximately 4.19 million additional warrants,
to an affiliate of Deutsche Bank AG.

In turn, Deutsche Bank announced that one of its affiliates is offering to
sell notes exchangeable into approximately 28 million shares of USAi common
stock.

USAi has been advised that the transactions are subject to customary closing
conditions and should completed in three business days.

The company is not receiving any of the proceeds from the sale of the
warrants from Vivendi to Deutsche Bank or from the sale of the notes by the
bank.

 

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