Court of Appeals Extends Injunction

GRUPO CLARIN S.A.

Court of Appeals Extends Injunction

On 22 May 2014, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange, supplementing the information provided on 23 October 2013, that Chamber No. V of the Federal Court of Appeals on Administrative Matters, in re "Grupo Clarín S.A. v. CNV - Resol 17131/13 (File No. 737/13)" File No. 29,563/2013 extended for six months the injunction that provided for the suspension of the effects of Resolution No. 17131/13, dated as of 11 July 2013. Which had declared the irregularity and ineffectiveness for administrative purposes, of the decisions adopted at the General Annual Ordinary Shareholders' Meeting held on 25 April 2013.

Attached below is a free translation of the relevant sections of the decision rendered by the Court of Appeals.

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 

FEDERAL COURT OF APPEALS ON ADMINISTRATIVE MATTERS - CHAMBER V

29563/2013

Grupo Clarín S.A. v. CNV - Resol 17131/13 (File No. 737/13)

Buenos Aires, 20 May 2014.- WLC

WHEREAS:

[Recitals I to V intentionally omitted]

VI.-  [First paragraph of recital VI intentionally omitted]

Consequently, given the request of claimant in its presentation of page 1036, in the first place we must point out that the Court understands that the factual circumstances that were pondered by the Chamber in the injunction that was granted at the time in this litigation remain unchanged. We must recall that, even though it is true that injuctions are of a provisional nature and may change in face of a change in the circumstances that motivated their request (Sections 202 and 203 of the National Code on Civil and Commercial Procedures), we note that such change did not occur in this litigation.

In consequence, in exercise of the powers vested [on this Court] by Section 5º, paragraph 3rd of Law No. 26,854, we hereby order the extension for a term of SIX months of the injunction that was originally granted.

All of which is ALSO SO DECIDED.-

[Remainder of the decision intentionally omitted]

/s/ Guillermo F. TREACY

/s/ Jorge Federico ALEMANY

/s/ Ana L. PRIORE - Acting pro-secretary of the Court of Appeals