Bond offering and listing

NEW BOND OFFERING BY LAGARDERE SCA:

Approval by the COB n° 03-570 dated June 12, 2003
Issue: 100 000 000 euros with the possibility to increase to a maximum of 125 000 000 euros
Issue price: 100,999% (1 009,99 euros per Bond)
Closing Date: July 10, 2003
Maturity Date: July 10, 2013
Interest Rate of Return: 4,62%

ISSUER:
LAGARDERE SCA, incorporated in the Republic of France as a Société en Commandite par Actions with a capital of 849 229 824,40 euros. Headquarters: 4 rue de Presbourg, 75016 Paris 320 366 446 R.C.S. Paris.

PURPOSE OF THE OFFERING:
The purpose of this offering is to enable Lagardère to diversify its various financial resources and to extend their maturity through a product that is attractive and original. In fact, this is the first bond issue of this type issued by a private industrial group in France since a long time.

This issue offers the group the opportunity to address itself to an investor base which constitutes in other respects the base of its individual shareholders, to whom the group is very attached.

THE OFFERING:
The General Shareholders Meeting of May 12, 2001 authorized the management to proceed with a bond offering.
The bondholders have the option to hold bearer bonds or bonds registered with the company. The offering expects to issue 100 000 bonds with the possibility to increase to a maximum of 125 000 bonds. The gross proceeds from this offering for a nominal amount of 100 000 000 euros will be 100 999 000 euros.
Date of offering: July 10, 2003
Denomination: 1 000 euros
Interest Rate p.a.: 4,75%
Option to increase offering: 25 000 bonds

CONDITIONS TO THE OFFERING:
Registration in France will be received within the limit of the available bonds through Crédit Lyonnais (www.clparticuliers.com).

CALENDAR OF THE OPERATION:
The offering will be open to the public from June 16, 2003 for a period of 3 weeks and can be closed without advance notice. Issue Date: July 10, 2003

LISTING:
July 10, 2003, on the Premier Marché Paris S.A. Euronext with the code FR0000476061.

OTHER INFORMATION:
The offering will take place only in France within the limit of the bonds available and under the governing laws of France.

FINANCE INTERMEDIARIES:
The bond agent will be Euro Emetteur Finance.

INVESTORS CONTACT AND OFFERING CIRCULAR:
At the retail offices of Crédit Lyonnais or at the Information to shareholders and public department of Lagardère SCA. Tel: +33 1 40 69 20 73.