The veteran rocker is alive and well...

LOU REED has released a statement saying he is alive and well refuting a story spreading around the Internet claiming he had died.

The star was forced to dispel the rumour, purporting to come from Reuters news agency, claiming that he had overdosed on demerol in his apartment in New York’s Chelsea Hotel.

The statement is carried on respected UK news site Velvet Underground veteran was in Holland working on a new project.

It reads: “Mr Reed is currently in Amsterdam preparing for the opening of his latest project, Poetry, for which he collaborated with theatrical director Robert Wilson.”

However, a UK spokesperson for Reed told NME.COM he was unable to confirm the statement this afternoon (May 8) but as far as he was aware, Reed was “fine”.