Independent News & Media Regulatory News (INM)

APN CONFIRMS CONSENSUS IN ADVANCE OF INVESTOR CONFERENCE

Ticker: (Bloomberg) INM.ID/ INM.LN and (Reuters) INME.I/ INME.L

Dublin/London - 22 November 2010: APN News & Media Limited ["APN"] in which Independent News & Media PLC has a 31.6% shareholding, today issued a trading update in advance of its annual Investor presentations being held this week in Melbourne on Wednesday 24 November and in Sydney on Friday 26 November.

At the Investor presentation, Management will update the market on its successful multimedia strategy across APN's market leading positions in Publishing, Online news, Radio and Outdoor and its growing range of broader new media product offerings. These include GrabOne, already New Zealand's largest online coupon provider and now launched in Australia, Sella; APN's free listing online auction/classified model; and Finda, its local online community portal.

In terms of present trading conditions, Australia is performing well with National advertising in particular continuing to show strong growth. In New Zealand, as the economy continues to improve, advertising growth is returning, though somewhat less consistent than in Australia.

APN noted in its Interim Report issued at the end of September that it is confident that the second half would see a return to more traditional trading patterns and therefore a seasonally higher second half result, although Q4 would be set against higher prior year comparisons.

In terms of an overall result for the 2010 year, the Company notes that the consensus full year forecast of ten leading media analysts, who have all published recent research on APN, is for Earnings Before Interest and Tax of $210m (pre-exceptionals) and the Company expects to report full year results for the year materially in line with this consensus.