Interim Results 2001

1. Independent News & Media PLC Interim Results 2001 5th September, 2001

2. GLOBALISATION DELIVERS CONTINUED GROWTH • Global Portfolio of Leading Brands • Market Leaders • Strong Cost Management • Prudent New Media Strategy & Execution GLOBAL VISION LOCAL CONTENT Independent News & Media PLC

3. 2001 HIGHLIGHTS • Group Advertising Revenue • Group Circulation Revenue • Operating Costs tightly controlled • Operating Margins • €60m Irish production facility fully operational • Successful integration of Belfast Telegraph Group Independent News & Media PLC

4. HEADLINE NUMBERS Independent News & Media PLC

5. 2001 SUMMARY BALANCE SHEET Independent News & Media PLC

6. 2001 SUMMARY OPERATING CASH FLOWS Independent News & Media PLC

7. H1 GROUP TURNOVER BY MARKET: €656.0m Independent News & Media PLC

8. H1 GROUP PROFIT BY MARKET: €109.3m Independent News & Media PLC

9. EARNINGS PER SHARE: 10 YEAR PERFORMANCE Earnings per Share (€) (Fully diluted before exceptionals & goodwill amortisation) • 10 Year C.A.G.R. • Turnover + 24% • Operating Profit * + 26% • Pre-Tax Profit + 23% • Earnings Per Share + 17% • Dividends Per Share + 15% * Excluding exceptional items Independent News & Media PLC

10. NEW ZEALAND DIVISION COMPANY PROFILE • No. 1 NEWSPAPER publisher • No. 1 REGIONAL publisher • No. 1 RADIO operator • No. 1 COMMERCIAL PRINTER • No. 1 SECURITY PRINTER • Turnover by Activity: 2001 PERFORMANCE & OUTLOOK • Marginal revenue decline compared to strong H1 2000 • Compensated by strong cost management • H1 2001 Operating Profits + 7.9% • Full year of Shared Services benefits • Revenues strengthening into H2 2001 Independent News & Media PLC

11. AUSTRALIAN DIVISION COMPANY PROFILE • No. 1 REGIONAL publisher • No. 1 OUTDOOR operator • No. 1 Australasian RADIO operator • JV in Pan TV’s World Movies • Growing Asian OUTDOOR business • Turnover by Activity: 2001 PERFORMANCE & OUTLOOK • Tough advertising market in 1st half • Continued tight cost control • Operating Profits down compared to a very strong H1 2000; Net Profit up • Full year of Shared Services benefits • Asian expansion on-track Independent News & Media PLC

12. SOUTH AFRICAN DIVISION COMPANY PROFILE • No. 1 METROPOLITAN/ NATIONAL publisher (14 out of 25 titles) • Acquisition of No. 1 OUTDOOR operator through new JV with Clear Channel pending • No. 1 News & Current Affairs Website • Turnover by Activity: 2001 PERFORMANCE & OUTLOOK • Revenue growth in 1st half • Strong cost management • H1 2001 Operating Profits +12.6% • Pending acquisition of Corpcom - EPS enhancing • Circulations: 10 out of 14 titles UP – all competitors significantly down Independent News & Media PLC

13. UNITED KINGDOM DIVISION COMPANY PROFILE • Leading NATIONAL titles in G.B. & Northern Ireland • No. 1 PUBLISHER in Northern Ireland • No. 2 London REGIONAL publisher • No. 1 London RECRUITMENT magazine publisher • No. 1 EDUCATIONAL COURSES magazine publisher • Turnover by Activity: 2001 PERFORMANCE & OUTLOOK • Core circulations & readership UP • - The Independent readership up 28.4% • - Belfast Telegraph readership up 8.9% • Aggressive cover pricing implemented • Strong cost management • Newsprint price reductions achieved in Q2 Independent News & Media PLC

14. IRISH DIVISION COMPANY PROFILE • No. 1 NATIONAL publisher • No. 1 REGIONAL publisher • No. 1 WHOLESALER/ DISTRIBUTOR • Turnover by Activity: 2001 PERFORMANCE & OUTLOOK • Successful commissioning of CITYWEST • Strong ADVERTISING growth & significant gains in MARKET SHARE • Strong CIRCULATION growth • - Irish Independent achieves 18 year high • - The Star achieves all-time high • Strong cost management Independent News & Media PLC

15. NEW MEDIA • Prudent New Media strategy and execution • Extension of core brands • Pro-active cost management • - Headcount down 43% • Significant reduction in Operating Losses, as forecasted Independent News & Media PLC

16. Excellent first half - 89% revenue growth on H2 2000 Controlling costs – Q2 cash outflow only £1.8m, same as Q1 Growth continuing into 2nd half Well positioned for mobile future with:- - Fully funded business model - Powerful international relationships - Strong cash position – Stg£44.2m in hand iTOUCH PLC Independent News & Media PLC

17. iTOUCH PLC - Global Spread Strategic alliances with local media providers and mobile network operators Greece Media Partner: Netmed & M-Web (MIH) Network Operator: (Being negotiated) Ireland Media Partner: Independent News & Media PLC Network Operator: Eircell Israel Media Partner: Globes/Monitin Network Operator: Cellcom, Pelephone, MIRS United Kingdom Media Partner: Independent News & Media (UK) Limited Network Operator: Vodafone, BT Cellnet Indonesia Media Partner: M-Web & Astrada (MIH) Network Operator: Excelcomindo Thailand Media Partner: UBC & M-Web (MIH)Network Operator: (Being negotiated) South Africa Media Partner: Independent News & MediaNetwork Operator: Vodacom and MTN New Zealand Australia Media Partner: Wilson & HortonNetwork Operator: Vodafone Media Partner: APNNetwork Operator: Vodafone, Optus, Telstra, Orange Independent News & Media PLC

18. GEOGRAPHICALLY diversified - with tight focus on core competencies Unique BRAND leadership positions - dominant in 4 out of 5 markets Advertising UP in contrast to competitors Circulations UP in contrast to competitors Major capital expenditure programme now COMPLETED HIGHLY cash generative business Clear strategy for operating margin ENHANCEMENTS SUMMARY Independent News & Media PLC

19. OUTLOOK • CORE businesses performing well • ADVERTISING & CIRCULATION revenues trending UP • Continued focus on COSTS • GLOBAL diversity underpinning growth Independent News & Media PLC

20. Independent News & Media PLC Interim Results 2001 5th September, 2001 GLOBAL VISION LOCAL CONTENT