Independent News & Media Regulatory News (INM)

APPENDIX

DISCLOSURE FORM

FORM SAR 6

IRISH TAKEOVER PANEL

Lodge with the Stock Exchange (which may publicise) and with the Panel. A copy must also be sent to the company the voting securities of which (or the rights over the voting securities of which) are acquired.

Date of disclosure: 13th May 2011

DISCLOSURE UNDER RULE 6 OF THE IRISH TAKEOVER PANEL

ACT, 1997, SUBSTANTIAL ACQUISITION RULES, 2007 ("SARs")

Date of Acquisition: 11th May 2011

Acquisition in: Independent News and Media Plc.

(1) Class of voting securities: Ordinary Shares of 35c

Number of voting securities acquired: 117,274

(2) Resultant total holding of voting securities: 22.0022%

Total Percentage: 22.0022%

(3) Party making disclosure: Denis O'Brien

(4) (a) Name of person acquiring securities or rights over securities: see attached

And, if different, beneficial owner: Denis O'Brien

(b) Names of any other persons acting in concert (see SAR3): NA

Signed, for and on behalf of the party named in (3) above: Katarina Machovicova

Also print name of signatory: Machovicova

Telephone and extension number: 01/432 5913

Note 1. Under SAR 3, the holdings of and acquisitions by persons acting in concert must be aggregated and treated as a holding of or acquisition by one person. SAR 8(b) requires persons who must aggregate holdings to disclose certain disposals.

Note 2. "Stock Exchange": see definition in Rule 2.1(a) of Part A of the Takeover Rules

as 4 in the form:

REGISTERED SHAREHOLDERS NO. OF SHARES HELD

Bloxham Nominees Ltd. 38,647,720

Merrion Crest Nominees Ltd. 53,444,630

Zeban Nominees Ltd. 29,011,685

Total 121,104,035