Vivendi Universal: Telecommunications in Poland.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- On December 20, 2005, the Vienna Commercial Court (Austria), ruling on the basis of an application filed by Elektrim Telekomunikacja ("Telco"), cancelled the first holding of the arbitral ar·bi·tral adj. Of or relating to arbiters or arbitration. Adj. 1. arbitral - relating to or resulting from arbitration; "the arbitral adjustment of the controversy"; "an arbitrational settlement" arbitrational award issued in Vienna on November 26, 2004 in the dispute opposing Deutsche Telekom Deutsche Telekom AG (ISIN: DE0005557508, FWB: DTE, NYSE: DT, LSE: DEU, TYO: 9496 ) (abbreviated DTAG) is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Germany and in the EU. to Elektrim and Telco concerning the PTC (PTC, Needham, MA, www.ptc.com) Long a world leader in mechanical computer-aided design, manufacturing and engineering software, PTC, through acquisitions and reorganization, has transformed itself into a leading provider of Internet-based B2B solutions for discrete manufacturers. shares. This first holding deemed that the transfer of PTC shares by Elektrim to Telco in 1999 was "ineffective" and that the PTC shares subject of such transfer had never left Elektrim. All the other holdings of the arbitral award remain unchanged, including the one concerning the tribunal's lack of jurisdiction over Telco. The Commercial Court determined that the arbitral tribunal An arbitral tribunal (or arbitration tribunal) is a panel of one or more adjudicators which is convened and sits to resolve a dispute by way of arbitration. The tribunal may consist of a sole arbitrator, or there may be two or more arbitrators , while declaring that it had no jurisdiction over Telco, nonetheless issued an award that was likely to affect Telco's rights. The ruling of the Vienna Commercial Court, which remains appealable, fully confirms Vivendi Universal's (Paris Bourse Paris Bourse National stock market of France. : EX FP; NYSE NYSE See: New York Stock Exchange : V) position that this award is unenforceable against Telco and does not affect Telco's right of ownership to the PTC shares. In addition, in December 2005 Vivendi Universal acquired from Ymer an additional 2% shareholding in Telco and an additional 1% shareholding in Carcom. As a result, Vivendi Universal now owns 51% of Telco and Carcom. Vivendi Universal also notes that despite the ruling of the Warsaw Court on November 15, 2005 to re-register Telco as a shareholder in PTC and its representatives as members of PTC's corporate bodies in the Register of Commerce, they are still to date refused access to PTC's premises on the instructions of Deutsche Telekom and Elektrim. We also note that Vivendi Universal has commenced proceedings against Deutsche Telekom before the Paris Commercial Court for damages currently estimated at 2.2 billion euros. Important Disclaimer: This press release contains 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements and business strategy as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to the risk that Vivendi Universal ultimately will not prevail in one or more of the litigations referred to above, and to the risks described in the documents Vivendi Universal has filed with the U.S. Securities and Exchange Commission and with the French Autorite des Marches Financiers. Investors and security holders may obtain a free copy of documents filed by Vivendi Universal with the U.S. Securities and Exchange Commission at www.sec.gov and with the French Autorite des Marches Financiers at www.amf-france.org or directly from Vivendi Universal. Vivendi Universal does not undertake to provide, nor has any obligation to provide, update or revise forward-looking statements. Vivendi Universal is a leader in media and telecommunications with activities in television and film (Canal+ Group), music (Universal Music Group), interactive games (VU Games) and fixed and mobile telecommunications (SFR SFR Swiss Franc (national currency) SFR Société Française du Radiotéléphone (French cellular provider) SFR Single Family Residence SFR Single Family Residence (real estate) Cegetel Group and Maroc Telecom). |
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