Final Results in respect of Tender Offer

* Daily Mail and General Trust plc Announces Final Results in respect of its Tender Offer for its £165,000,000 10 per cent. Bonds due 2021 * and £349,703,000 5.75 per cent. Bonds due 2018 * NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN ANY OTHER JURISDICTION IN WHICH IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT * 30 September 2014. Further to its announcement earlier today, 30 September 2014, Daily Mail and General Trust plc (the Company) now announces the final results for its separate invitations to holders of its outstanding £ 165,000,000 10 per cent. Bonds due 2021 (ISIN: XS0064908592) (the 2021 Bonds) and its outstanding £349,703,000 5.75 per cent. Bonds due 2018 (ISIN: XS0170485204) (the 2018 Bonds and, together with the 2021 Bonds, the Bonds) to tender their Bonds for purchase by the Company for cash (each such invitation an Offer and together the Offers). * The Offers were announced on 22 September 2014 and were made on the terms and subject to the conditions contained in the tender offer memorandum dated 22 September 2014 (the Tender Offer Memorandum) prepared by the Company, and are subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum. * The Expiration Deadline for the Offers was 4.00 p.m. (London time) on 29 September 2014. * Final Results * The Company has decided to accept valid tenders of 2021 Bonds and, accordingly, the Company will accept all valid tenders of 2021 Bonds in full, with no pro rata scaling, and the 2021 Bonds Acceptance Amount will be £92,840,000. * The Company has decided to set the 2018 Bonds Acceptance Amount at £ 56,465,000 and, accordingly, the Company will accept for purchase all valid tenders of 2018 Bonds with pro rata scaling at a Scaling Factor of 0.4x, as further described in the Tender Offer Memorandum. * Final pricing for the Offers took place at or around 10.00 a.m. (London time) today, 30 September 2014. The cash purchase price the Company will pay for 2021 Bonds validly tendered and accepted for purchase will be 139.467 per cent. of the nominal amount of the relevant 2021 Bonds. The Company will also pay Accrued Interest in respect of the 2021 Bonds accepted for purchase pursuant to the relevant Offer equal to 4.777777 per cent. of the nominal amount of the relevant 2021 Bonds. The cash purchase price the Company will pay for 2018 Bonds validly tendered and accepted for purchase will be 112.639 per cent. of the nominal amount of the relevant 2018 Bonds. The Company will also pay Accrued Interest in respect of the 2018 Bonds accepted for purchase pursuant to the relevant Offer equal to 4.694520 per cent. of the nominal amount of the relevant 2018 Bonds. Final Pricing for the Offers * A summary of the final pricing of the Offers appears below. * Purchase Benchmark Purchase Purchase Accrued Spread Security Yield Price Interest Rate 2021 Bonds +110 bps 2.069 per 3.194 per 139.467 per 4.777777 cent. cent. cent. per cent. 2018 Bonds +110 bps 1.410 per 2.526 per 112.639 per 4.694520 cent. cent. cent. per cent. * The Settlement Date in respect of any Bonds accepted for purchase is expected to be 1 October 2014. All Bonds purchased pursuant to the Offers will be cancelled and will not be re-sold or re-issued. Accordingly, following settlement of the Offers, £7,160,000 in aggregate nominal amount of the 2021 Bonds will remain outstanding and £218,536,000 in aggregate nominal amount of the 2018 Bonds will remain outstanding (excluding the £ 74,702,000 in aggregate nominal amount of the 2018 Bonds currently held by the Company). * Lloyds Bank plc and The Royal Bank of Scotland plc are acting as Dealer Managers for the Offers, Banco Santander, S.A. and Barclays Bank PLC are acting as Co-Dealer Managers for the Offers and Lucid Issuer Services Limited is acting as Tender Agent. * The Dealer Managers Lloyds Bank plc The Royal Bank of Scotland plc 10 Gresham Street 135 Bishopsgate London EC2V 7AE London EC2M 3UR United Kingdom United Kingdom Telephone: +44 20 7158 2720 Telephone: +44 20 7085 8056 / +44 20 7678 9896 Attention: Liability Management Group Attention: Liability Management Group Email:[email protected] Email: [email protected] * The Co-Dealer Managers * Banco Santander, S.A. * Barclays Bank PLC * Ciudad Grupo Santander * 5 The North Colonnade * Av Cantabria s/n * Canary Wharf * Edificio Encinar - Planta 0 * London E14 4BB * 28660 - Boadilla * United Kingdom * Madrid * Spain * The Tender Agent Lucid Issuer Services Limited * Leroy House * 436 Essex Road * London N1 3QP * United Kingdom * Telephone: +44 20 7704 0880 * Attention: David Shilson * Email: [email protected] * DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any Bonds is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.