Stock-option Plans

Lagardere S.C.A.
03 November 2005


                                 Lagardere SCA



 Hedging terms of the stock-option plans on existing shares granted since 2001


Since 2001, Lagardere SCA has granted stock-options on existing shares to
employees of the Group every year. The stock-option plans outstanding are:
     
•    2001 : strike price €46.48, maturity 19/12/2008, number of outstanding
     options 1,110,226;

•    2002 : strike price €51.45, maturity 19/12/2009, number of outstanding
     options 1,226,477;

•    2003 : strike price €51.45, maturity 18/12/2013, number of outstanding
     options 1,424,017;

•    2004 : strike price €51.92, maturity 20/11/2014, number of outstanding
     options 1,572,763;

     i.e. a maximum aggregate of 5,333,483 outstanding options.


To satisfy its obligations under the above plans, Lagardere SCA executed a
twofold transaction on 3 November 2005:
     
•    The sale of 1,840,337 of its treasury shares to Barclays Capital Securities 
     Limited. The disposal of those treasury shares was executed via a 'vente a 
     remere', i.e. a sale with a cancellation clause, for an average weighted
     price of €40.83, whereby Lagardere SCA has the right to repurchase all or 
     part of such shares sold;

•    The purchase by Lagardere SCA of 3,493,146 call options from Barclays
     Bank PLC.

With this operation, Lagardere SCA has a perfect hedge on its stock-option plans
on existing shares granted to employees of the Group since 2001.

The transaction has no significant impact on Lagardere SCA's shareholders'
equity nor on its net indebtedness.

It also enables Lagardere SCA to freely use the 1,873,179 remaining shares held
in treasury (i.e. 1.32% of the total issued share capital), which are currently
allocated to the hedging of the outstanding stock-option plans on existing
shares. Whole or part of these shares could either be held in treasury to meet
the obligations arising from its employee share option programmes or be
cancelled.

The transaction was entirely arranged by Barclays Capital, the investment
banking division of Barclays Bank PLC which, until the maturity of the
stock-option plans, may engage in transactions on Lagardere SCA's shares
pursuant to its hedging management policy.


Paris, November 3, 2005


The Lagardere Group is a market leader in the media sector (books, press,
audiovisual, and distribution/retailing of cultural products). The Group also
has interests in the high technology sector via a 15.09% interest in EADS.

The Group posted revenues of €12,296m in 2004, and employs nearly 47,300 people
in over 40 countries.

The Lagardere Group is listed on the Premier Marche of the Paris Bourse.



Press Contacts:

Thierry FUNCK-BRENTANO                             tel: [phone]
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Arnaud MOLINIE                                     tel: [phone]
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Investor Relations Contact:

Laurent CAROZZI                                    tel: [phone]
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