Court revokes government resolution

GRUPO CLARIN S.A.

Court Revokes Government Resolution

On 17 September 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 Chamber 2 of the National Court of Appeals on Federal Civil and Commercial Matters in re "AMI Cable Holding Ltd and others re/ Appeal Resolution of the Argentine Antitrust Commission" (File No. 2054/2010) whereby, among other matters, to revoke the resolution issued by the Ministry of Economy and Public Finance No. 113/10. Pursuant to such Resolution, the Ministry had declared that Resolution No. 257/07 of the Domestic Trade Secretariat had ceased to have effect.

Attached below is a free translation of the relevant sections of the decision rendered by Chamber 2 of the National Court of Appeals on Federal Civil and Commercial Matters.

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 

NATIONAL COURT OF APPEALS ON FEDERAL CIVIL AND COMMERCIAL MATTERS - CHAMBER II

File nº 2054/2010

AMI CABLE HOLDING LTD AND OTHERS RE/ APPEAL RESOLUTION NATIONAL ANTITRUST COMMISSION

Buenos Aires, September 2015.- HE

[RECITALS INTENTIONALLY OMMITTED]

In light of the above, this Chamber DECIDES: I. to reject the claims of formal inadmissibility brought by the National Government: II. to compel counsel to observe the conduct guidelines set forth under point 8.3); III. to call Doctor Cassino's and Doctor Méndez Acosta's attention, as expressed under point 9º); IV. to revoke resolution nº 113/10, with court costs borne by each party as incurred, given the particularities of the matter decided [by the Court].

We state for the record that Doctor Alfredo Silverio Gusman does not intervene on account of the excusation made on p. 173 of the file "Ami Cable Holding re. Recusation incident", nº 6723/12, which was accepted on pp. 416/420 of such proceedings (pursuant to Sect. 109 of the National Judiciary Rules).

Let this decision be registered, notified electronically and returned [to the lower court].

RICARDO VÍCTOR GUARINONI

GRACIELA MEDINA

Execution Date: 17/09/2015

Signed by: RICARDO V. GUARINONI - GRACIELA MEDINA