Directorate Change

GRUPO CLARIN S.A.

Alternate Director and Syndic Resignations

On 22 February 2012, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that on that same date it had received a note from Mr. Luis María Blaquier, communicating his resignation to the position of alternate director of the Company representing the Class "C" shares, for personal reasons. Also on 22 February 2012, the Company received two notes, from Messrs. Alberto López Carnabucci and Pablo Tonina, syndic and alternate syndic of the Company, communicating their resignations to such positions for work-related reasons, given the international and professional commitments each had respectively assumed.

Enquiries:

In Buenos Aires:

Alfredo Marín/Agustín Medina Manson

Grupo Clarín

Tel: +5411 4309 7215

Email: investors@grupoclarin.com

In London:

Alex Money/Helen Greenwood

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