Court grants injunction

GRUPO CLARIN S.A.

Court Grants Injunction

On 20 February 2015, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that it had been served notice of a decision rendered by the National Court of Appeals on Federal Civil and Commercial Matters, Chamber No. 1 in re "Grupo Clarín S.A. and others v. National State and other re/ incidental procedure relating to appeal" File No. 7263/2012, whereby the court decided to "Confirm the decision of pp. 1262/1278 dated 9 December 2014, on all matters challenged [by appellant]", maintaining the suspension of the effects of Resolution 1121/AFSCA-2014 and of the "Ex-Officio divestment procedure," for a term of six months.

Attached below is a free translation of the relevant sections of the decision rendered by the National Court of Appeals on Federal Civil and Commercial Matters, Chamber No. 1.

Enquiries:

In Buenos Aires:

Alfredo Marín/Agustín Medina Manson

Grupo Clarín

Tel: +5411 4309 7215

Email: [email protected] 

In London:

Alex Money

Jasford IR

Tel: +44 20 3289 5300

Email: [email protected] 

In New York:

Melanie Carpenter

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: [email protected]

FREE TRANSLATION

National Judicial Branch 

[top left corner bears the seal of the National Court of Appeals on Federal Civil and Commercial Matters, Chamber No. 1]

[top right corner bears a signature and a seal: Ma. Alejandra Lagomarsino - Secretary]

C. 7263/2012/1/CA4 - I - "Grupo Clarín S.A. and others v/ National Government and other re/ merely declarative action - incidental procedure relating to appeal"

Court Nº: 1

Secretariat Nº: 1

Buenos Aires, 19 February 2015.

 [Recitals intentionally omitted]

Based on the grounds set forth above, the Court DECIDES: 1) To confirm the decision of pp. 1262/1278 dated 9 December 2014, on all matters challenged [by appellant] (todo cuanto ha sido materia de agravios). Costs are allocated as incurred [by the parties] given the result of the appeals (recursos) (Section 69 and 71 of the Procedural Code.

Dr. de las Carreras does not intervene due to his leave of absence (Section 106 of the National Judiciary Rules)

Let this decision be recorded notified and returned [to the First Instance Court].-

/s/ María Susana Najurieta

/s/ Ricardo Guarinoni

/s/ Ma. Alejandra Lagomarsino - Secretary

On 20 February 2015, Dr. Tesla Laura Denise, authorised by AFSCA on p. 1341, withdraws a copy and is served notice of the decision of pp. 15501 1555. For the record.

/s/ Laura Tesla Tº 110 Fº578