AFSCA Resolution

GRUPO CLARIN S.A.

AFSCA Resolution

On 18 February 2014, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that it had been served notice of Resolution No. 193-AFSCA/14 (the "Resolution") issued by the Audiovisual Communication Services Law Federal Enforcement Authority.

Attached as Schedule A is a free translation of the relevant sections the Resolution.

Enquiries:

In Buenos Aires:

Alfredo Marín/Agustín Medina Manson

Grupo Clarín

Tel: +5411 4309 7215

Email: investors@grupoclarin.com 

In London:

Alex Money/Clare Gallagher

Jasford IR

Tel: +44 20 3289 5300

Email: alexm@jasford.com 

In New York:

Melanie Carpenter

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: clarin@i-advize.com

SCHEDULE A

FREE TRANSLATION

Audiovisual Communication Services Law Federal Enforcement Authority

0193

Buenos Aires, 18 February 2014

Having reviewed File No. 3002/13 of the registry of the AUDIOVISUAL COMMUNICATION SERVICES LAW FEDERAL ENFORCEMENT AUTHORITY, and

WHEREAS

Under such file, the companies GRUPO CLARÍN SOCIEDAD ANÓNIMA, ARTE RADIOTELEVISIVO ARGENTINO SOCIEDAD ANÓNIMA, RADIO MITRE SOCIEDAD ANÓNIMA and CABLEVISIÓN SOCIEDAD ANÓNIMA, have submitted the proposal to conform [to the terms of Law No. 26,522], pursuant to Law No. 26,522, Decree No. 1,255/10 and Resolutions No. 297-AFSCA/10 and No. 2,205-AFSCA/12.

[Recitals intentionally omitted]

Therefore,

THE BOARD OF THE

AUDIOVISUAL COMMUNICATION SERVICES LAW FEDERAL ENFORCEMENT AUTHORITY

RESOLVES:

ARTICLE 1º.- [We hereby] declare the proposal filed by the companies GRUPO CLARÍN SOCIEDAD ANÓNIMA, ARTE RADIOTELEVISIVO ARGENTINO SOCIEDAD ANÓNIMA, RADIO MITRE SOCIEDAD ANÓNIMA and CABLEVISIÓN SOCIEDAD ANÓNIMA formally admissible; under the terms indicated in the recitals hereof-

ARTICLE 2º.- The term of ONE HUNDRED EIGHTY (180) calendar days set forth under section 8º of the RULES FOR THE MANAGEMENT AND PROCEDURE RELATING TO PROPOSALS (Reglamento de Gestión y Tramitación de las Propuestas de Adecuación) approved pursuant to Resolution No. 2.205-AFSCA/12 will be counted as from the moment [the parties are] served notice of this act.

ARTICLE 3º.- Let this Resolution be registered, communicated, notified to the interested parties and to the COORDINATION COMMISSION formed pursuant to the MASTER COOPERATION AGREEMENT (Convenio Marco de Cooperación) No. 207 dated as of 27 November 2012 and, once fulfilled, let this file be sent to the archives.

Resolution No. 0193

Minutes of the Meeting of the Bard Of Directors No. 47

File No. 3.002-AFSCA/13

/s/ Martín Sabbatella, chairman of the Board of the Audiovisual Communication Services Law Federal Enforcement Authority