Company Update

17 December 2012

Media Corporation Plc

(the "Group" or the "Company")

Company Update

The Company announces that is has placed Eyeconomy Limited ("Eyeconomy"), an internet advertising business and wholly owned subsidiary of the Group, into administration (the "Administration") with KRE Corporate Recovery LLP. On 12 December 2012, the Company announced that due to tough trading conditions, revenues had softened and Eyeconomy was expected to make a loss for the division for the 15 month period ending 31 December 2012. Eyeconomy's considerable drop in sales, coupled with the growing negative net asset position of the business, has led the Board of the Company to take the tough decision that as Eyeconomy is no longer an appropriate fit with the ongoing strategic direction of the Group its resources are better focused on the pending launch of Intabet and associated sites. A further announcement regarding the Administration will be made in due course.

The Group's other trading operations are unaffected and continue to trade as normal. The Company remains completely focused on development of the Intabet platform and new, complimentary technologies and products.

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