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Interim Results September 6th, 2000

Leading media brand with over 200 newspaper titles, strong market share in multiple countries, successful acquisitions, and new media developments. Detailed financial highlights and performance metrics across regions.

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Interim Results September 6th, 2000

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  1. INDEPENDENT NEWS & MEDIA PLC Interim Results September 6th, 2000

  2. Portugal • No. 1 Newspaper Publisher • Hong Kong • No. 2 Transit Advertiser LEADING MEDIA BRANDS • Republic of Ireland • No. 1 National Publisher • No. 1 Regional Publisher • No. 1 Newspaper/ Magazine Distributor • No. 2 Cable Operator • United Kingdom • The Independent, Independent on Sunday • No. 1 Publisher in Northern Ireland • No. 1 Recruitment Magazine Publisher • No. 1 Paid-For Regional Publisher in London • New Zealand • No. 1 National Publisher • No. 1 Regional Publisher • No. 1 Radio Operator • No. 1 Commercial/ Security Printer • Australia • No. 1 Regional Publisher • No. 2 Radio Operator • No. 1 Outdoor Operator • South Africa • No. 1 Publisher

  3. LEADING MEDIA BRANDS • Dominant Media Company in 4 of 5 Markets • Market Share > 50% • Over 200 Newspaper Titles • Over 48m Readers per Week • Largest Radio/ Outdoor Advertising Operator in Australasia • Fast-growing New Media Division

  4. HIGHLIGHTS 2000 • Strong Operating Performances from all Divisions • Advertising market share advances • Circulation market share advances • Growth in Core Operating Margins • Significant New Media Developments • Successfully Acquired Belfast Telegraph Group • - Financed out of Euro 1bn Syndicated Bank Facility Subsequent to Half Year

  5. HEADLINE NUMBERS * Continuing activities before exceptionals ** Before exceptional items and amortisation

  6. SUMMARY BALANCE SHEET * Including the revalued elements of mastheads

  7. SUMMARY CASH FLOWS * Excluding restructuring payments

  8. SEGMENTAL PROFILE Turnover by Market – H1 2000 Total: Euro 629.4m South Africa 15% Ireland 25% UK 13% EBIT by Market – H1 2000 Total: Euro 101.2m New Zealand 22% Australia 25% Ireland 36% South Africa 9% New Zealand 24% Australia 31%

  9. 5 YEAR PERFORMANCE – GROSS ASSETS Gross Assets * (Euro’m) C.A.G.R. + 28% * including mastheads

  10. 5 YEAR PERFORMANCE – TURNOVER Group Turnover (Euro’m) C.A.G.R. + 28%

  11. 5 YEAR PERFORMANCE – OPERATING PROFIT Operating Profit (Euro’m) C.A.G.R. + 30%

  12. 5 YEAR PERFORMANCE – EARNINGS PER SHARE Earnings per Share (cents) (Fully diluted before exceptionals & goodwill amortisation) C.A.G.R. + 17%

  13. 5 YEAR PERFORMANCE – DIVIDENDS PER SHARE Dividends per Share (cents) C.A.G.R. + 14%

  14. DIVISIONAL PERFORMANCES

  15. NEW ZEALAND

  16. NEW ZEALAND

  17. AUSTRALIA

  18. AUSTRALIA

  19. SOUTH AFRICA

  20. SOUTH AFRICA

  21. UNITED KINGDOM

  22. UNITED KINGDOM - NEW MEDIA independenceavenue.com lam-online.com careerworld.net • Key Statistics: • Top 10 UK content Website • 14 million combined page • impressions per month • for UK group independent.co.uk mba-direct.com • H2 Developments: • Belfasttelegraph.co.uk • SME site • Student site • Joint sites with iTouch • Classifieds online executives-direct.com londoncareers.net

  23. BELFAST TELEGRAPH ACQUISITION Publishing Background • Belfast Telegraph circulation: 117,000 (Mon. – Sat.) • Over 50% home delivered • Sunday Life circulation: 95,000 • Other titles: Communities, Farm Trader, Ads for Free • Founded in 1870 • Northern Ireland’s leading daily newspaper • Acquired from Trinity Mirror in July 2000 • Competitive bid process – 17 1st round & 5 2nd round bidders • Consideration of Stg£295m • Earnings enhancing in 1st year • Moves IN&M into the top 10 UK regional publishers Printing • Substantial contract printer • 2 Goss Metroliners (double-width) • Freehold premises New Media • No. 1 site with 4.5m page impressions

  24. BELFAST TELEGRAPH ACQUISITION Future Prospects Key Characteristics • Unique metropolitan franchise • Excellent track record • Proven management/editorial team • Strong growth prospects • Dynamic new media resource • Significant revenue growth envisaged • Double digit advertising growth • New product development • The weekend opportunity • Group editorial resource • Economies of scale • Enhanced printing resource • Further expansion opportunities

  25. IRELAND

  26. IRELAND

  27. NEW MEDIA Independent Digital

  28. DIGITAL eVOLUTION

  29. INDEPENDENT DIGITAL * internet - portal business 2 business Ireland Ireland Australia Australia Ireland New Zealand South Africa United Kingdom Northern Ireland wap/ sms cellular Australia United Kingdom education Ireland United Kingdom Ireland telephony Ireland Ireland Ireland * denotes country of origin/ not served markets

  30. CABLE DIVISION - PHL

  31. iTOUCH PLC

  32. HEADLINE NUMBERS * Before New Media losses ** Continuing activities before exceptionals *** Before exceptional items and amortisation

  33. SUMMARY • Track record of unbeatable shareholder return • Geographically diversified - with tight focus on core competencies • Unique brand leadership positions - dominant in 4 out of 5 markets • All divisions advancing well on 1999 • Belfast Telegraph acquisition - EPS enhancing • Citywest development to further enhance Irish performance • “Hype-Less” new media strategy delivering quantifiable results • Increasing value of our Irish cable/ telephony business

  34. SHAREHOLDER RETURN – Since 1973 Euro 1,000 invested in 1973 C.A.G.R. + 25%

  35. INDEPENDENT NEWS & MEDIA PLC Interim Results September 6th, 2000

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