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Interim Results September 6th, 2000

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

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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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