Extraordinary General Meeting Of Marie Claire Album Group

Paris, the 30th November 2000 - An extraordinary general meeting of the shareholders of Marie Claire Album was held on November 30th 2000. The meeting was called to decide whether to grant approval for the disposal by Madame Donatienne de Montmort of its 17% stake to the company Hachette Filipacchi Medias.

L'Oréal, which holds a 49% stake, decided today to refuse to grant its approval, which leaves it free to exercise its pre-emption right. This decision reflects L'Oréal's determination to ensure that its interests are fully preserved.
However, L'Oréal has no intention of becoming a strategic player in the magazine press, and contacts between the parties are continuing in order to find a harmonious solution.