GCLA.L Regulatory News (GCLA)

09 March 2010

GRUPO CLARIN S.A.

Argentine Ministry of Economy and Public Finance issues Resolution No. 113/2010

On 5 March 2010, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission ("CNV") that on 4 March 2010, the Company was with notice of Resolution No. 113/2010 of the Argentine Ministry of Economy and Public Finance, providing, among other things, for the rejection by the Ministry of requests filed by the Company for the nullification of Resolutions Nos. 1101/09 and 1011/09 of the Secretariat of Domestic Trade and declaring the rescission of Resolution No. 257/07 of the Secretariat of Domestic Trade.

Attached hereto is a free translation of the relevant sections of Resolution No. 113/2010. Also attached hereto is a free translation of a statement issued by Cablevisión S.A., a subsidiary of the company.

Enquiries:

In Buenos Aires:

Alfredo Marín/

M. Julia Díaz Ardaya/Romina Vázquez

Grupo Clarín

Email: investors@grupoclarin.com

In London:

Alex Money/Lorna Ellen

Temple Bar Advisory

Tel: +44 20 7002 1080

Email: clarin@templebaradvisory.com

In New York:

Melanie Carpenter/Peter Majeski

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: clarin@i-advize.com

FREE TRANSLATION

MINISTRY OF ECONOMY AND PUBLIC FINANCE

- 113

BUENOS AIRES - 3 MARCH 2010

[Recitals intentionally omitted]

"THE MINISTER OF ECONOMY AND PUBLIC FINANCE HEREBY DECIDES:

ARTICLE 1º.- The request for the nullification of Resolution No. 1,101 dated as of 23 December 2009 of the SECRETARIAT OF DOMESTIC TRADE of the MINISTRY OF ECONOMY AND PUBLIC FINANCE (File No. S01:0014195/2010, incorporated to these proceedings) filed by GRUPO CLARIN S.A., CABLEVISION S.A. and VISTONE S.A. (formerly VISTONE LLC) is hereby rejected.

ARTICLE 2º - The request for the nullification of Resolution No. 1,011 dated as of 14 December 2009 of the SECRETARIAT OF DOMESTIC TRADE (File No. S01:0533967/2009, incorporated to these proceedings) filed by GRUPO CLARIN S.A., CABLEVISION S.A. and VISTONE S.A. (formerly VISTONE LLC) is hereby rejected.

ARTICLE 3º - The request for the nullification of Resolutions Nos. 1,101/09 and 1,011/09, both of the SECRETARIAT OF DOMESTIC TRADE (File No. S01:0014190/2010, incorporated to these proceedings) filed by AMI HOLDINGS LTD. is hereby rejected.

ARTICLE 4º - The request for the nullification of Resolutions Nos. 1,101/09 and 1,011/09, both of the SECRETARIAT OF DOMESTIC TRADE filed by GRUPO CLARIN S.A., CABLEVISION S.A. and VISTONE S.A. is hereby rejected.

ARTICLE 5º - The request for abstention and excusation filed by GRUPO CLARIN S.A., CABLEVISION S.A. and VISTONE S.A. is hereby rejected for lack of grounds.

ARTICLE 6º - The evidence submitted by the parties is hereby rejected as untimely and irrelevant.

ARTICLE 7º - We hereby deem unfulfilled the undertakings accepted under Article 1º of Resolution No. 257, dated as of 7 December 2007, of the SECRETARIAT OF DOMESTIC TRADE of the former MINISTRY OF ECONOMY AND PRODUCTION, which was issued in accordance with Opinion No. 637/07 of the NATIONAL ANTITRUST COMMISSION, a decentralized agency within the orbit of such Secretariat, which was in turn based on Opinion No. 788, dated as of 2 March 2010, of the NATIONAL ANTITRUST COMMISSION, a true copy of which is attached as an Exhibit hereto.

ARTICLE 8º - We hereby declare the rescission of the authorization granted under Article 2º of Resolution No. 257/07 of the SECRETARIAT OF DOMESTIC TRADE.

ARTICLE 9º - The parties are hereby ordered to take all necessary action to comply with Article 8º hereof within SIX (6) months of having been served notice hereof.

ARTICLE 10 - The parties are hereby ordered to inform the NATIONAL ANTITRUST COMMISSION on a monthly basis of their compliance of the previous Article.

ARTICLE 11 - Let this Resolution be registered, communicated and filed.

RESOLUTION NO. 113

[SIGNED]

Amado Boudou

Minister of Economy and Public Finance

FREE TRANSLATION

Statement by Cablevisión S.A. ("Cablevisión")

THE ARGENTINE GOVERNMENT AGAIN DISREGARDS JUDICIAL DECISIONS, THIS TIME TO CONTINUE ITS ATTACK ON CABLEVISION

Cablevisión will immediately resort to the justice system to defend itself from Resolution No. 113 dated March 3, issued by the Minister of Economy, Mr. Amado Boudou. In addition to being manifestly arbitrary, such resolution expressly disregards two judicial decisions that prevented its issuance

Such resolution, aimed at rescinding the National Antitrust Commission's unanimous authorisation granted in 2007, is null and void on account of the arbitrary and illegitimate framework under which it was issued. It also contradicts two judicial decisions that ordered [that Ministry] to follow due process of law, to respect Cablevisión's right to self-defense and not to incur in prejudgment, all of which orders were disobeyed by the Ministry.

Throughout these two years, no government official ever warned the company about any irregularity or requested any reports. On the contrary, the company of its own initiative provided certifiable evidence, backed by external audits, of its over-compliance with its voluntary undertakings relating to investments, technological renovation, network development, the supply of more and improved television and internet services, broadening the scope of its content and implementing socially oriented services.

This resolution has been issued in violation of the laws and procedures governing the public administration and must be viewed and interpreted as an additional piece in the systematic harassment campaign deployed by certain sectors of Government to attempt to hamper the operation of the company.

It is remarkable that the this resolution was issued after the rendering-a few days earlier-of a decision of Chamber A of the Court of Appeals on Criminal Economic Matters, whereby the Secretary of Domestic Trade, Guillermo Moreno, was excluded from the proceedings for prejudgment, and that Court demanded respect for due process of law, which was grossly disregarded by the new resolution.

This new resolution does nothing but cast doubts about the predictability and legal certainty of investments that are so necessary for our country, and about the credibility of the State's own control agencies, which bend their own decisions.

Cablevisión will continue to defend itself against these destructive measures that are to the detriment of a growing industry, and will maintain its commitment to invest, to remain a source of employment and to render the best television and broadband services to its subscribers.