Disposal

DAILY MAIL & GENERAL TRUST PLC - Disposal

PR Newswire

London, January 7

DMGT announces that with effect from 30 December 2012, it has completed thedisposal of Northcliffe Media, its regional newspaper business, to Local World.DMGT received cash proceeds of £52.5 million and shares representing a 38.7%stake in Local World, as indicated in the 21 November, 2012 announcement.

The Iliffe family, owners of Yattendon Group, have sold Iliffe News & Media toLocal World in exchange for a 21.3% shareholding in the new business andTrinity Mirror has acquired a 20% shareholding. The remaining Local Worldshares were purchased by other investors including Artefact Group, anInvestment Fund associated with Lord Ashcroft, and Odey Asset Management.

Northcliffe Media earned operating profits of £26 million from revenues of £213million in the 12 months to September, 2012. DMGT also incurred £10 million ofexceptional operating costs in respect of Northcliffe Media during the year.Local World's pro forma combined operating profits are £29 million on revenuesof £249 million for the year to 30 September, 2012.

DMGT has agreed with the Trustees of the Pension Funds affected that £30million of the cash proceeds from the disposal will be paid into the PensionFunds. £15 million will be paid in the current financial year, of whichapproximately £5 million will be paid in respect of the Section 75 Employer'sDebt which arises as a result of the employees of Northcliffe Media leaving thePension Funds. This follows a reorganisation of the Group in 2011 under whichresponsibility for the majority of the liabilities was apportioned to DMGHoldings Limited. The remaining £15 million will be paid in the 2013/14financial year.

The Local World transaction follows the disposal in November 2012 of AssociatedNeswpapers' digital assets in central and eastern Europe for cash proceeds of €32 million (£27 million). During the year to 30 September, 2012 thesebusinesses accounted for £1.8 million of operating profit, £0.5m of share ofprofits from associates and £6 million of revenues.

Investor/ analyst enquiries:

Adam Webster, Investor Relations, DMGT +44 20 3615 2903

Media enquiries:

Kim Fletcher / Will Carnwath, Brunswick Group LLP +44 20 7404 5959

About DMGT

DMGT is an international group quoted on the London Stock Exchange with aportfolio of market-leading digital, information, media and events businesses.

Group revenues are split broadly equally across the B2B and Consumerbusinesses.

The B2B business comprises:

The Consumer business, known as Associated Newspapers, comprises:

DMGT seeks out innovative solutions to customers' demands for information andsupports a diverse group of high quality, entrepreneurial, media andinformation assets.

DMGT's ambition is to provide the highest quality content and services, acrossthe most attractive growth markets in innovative, responsible and sustainableways, building on its track record of earnings and dividend growth.