Indicative Results of Tender Offer

* Daily Mail and General Trust plc Announces Indicative 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. Daily Mail and General Trust plc (the Company) announces today indicative 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 is 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. * Indicative Results * As at the Expiration Deadline, the Company had received valid tenders for purchase of (i) £92,840,000 in aggregate nominal amount of 2021 Bonds and (ii) £141,359,000 in aggregate nominal amount of 2018 Bonds. * In the event that the Company decides to accept valid tenders of 2021 Bonds pursuant to the relevant Offer, the Company will accept all such valid tenders in full, with no pro rata scaling, and will set the 2021 Bonds Acceptance Amount at £92,840,000. * In the event that the Company decides to accept valid tenders of 2018 Bonds pursuant to the relevant Offer, the Company expects to set the 2018 Bonds Acceptance Amount at £56,465,000. Accordingly, the Company expects to 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. Bondholders should note that this is a non-binding indication of the level at which the Company expects to set the 2018 Bonds Acceptance Amount and the Scaling Factor that would be applied as a consequence. * Final Pricing for the Offers * Final pricing for the Offers will take place at or around 10.00 a.m. (London time) today, 30 September 2014 (the Pricing Time). As soon as practicable after the Pricing Time, the Company will announce whether it will accept valid tenders of Bonds pursuant to either or both of the Offers and, if so accepted, the 2021 Bonds Acceptance Amount, the 2018 Bonds Acceptance Amount, details of any pro rata scaling applicable to valid tenders of 2018 Bonds and the final pricing details for each Offer. * Lloyds Bank plc and The Royal Bank of Scotland plc are acting as 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 GroupEmail: [email protected] Email: [email protected] 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.