Intention to repurchase Ordinary Shares

29 June 2011

Betfair Group plc

Intention to repurchase Ordinary Shares

Betfair Group plc ("Betfair" or "the Company") (LSE:BET), the world's biggest betting community and one of the world's leading online betting and gaming operators, today announces that it intends to commence a share buy-back programme to make market purchases of up to £50 million of its ordinary shares ("Ordinary Shares") over the next 12 months.

 Betfair was listed on London Stock Exchange in October 2010 and at that time raised no new money as the Company already benefited from a very strong balance sheet. Today, the Company announced full year results for the 12 months to 30 April 2011. At that date, the Company had cash or cash equivalents amounting to £155 million. The results highlight the very strong cash generative nature of the business with Betfair delivering net cashflow from operations of over £60 million in the year.

Betfair has previously returned capital to shareholders - in 2008 the Company returned £112 million as part of a court approved scheme of arrangement.

The Company has also announced today it is commencing a regular dividend payment, with the payment of a final dividend of 5.9 pence per share to be made following shareholder approval at the Company's 2011 Annual General Meeting, which is scheduled to be held on 22 September 2011. Had the Company been listed for the whole of the year ended 30 April 2011, the total dividend for the year would have been 8.9 pence per share.

David Yu, Chief Executive Officer commented:

"We have a plan in place to deliver long-term shareholder value through a combination of accelerating our revenue growth, driving further margin improvement and returning excess cash to shareholders. The share buy-back programme is one element of this plan. We have always been a very cash generative business which allows us to both invest for the future and return cash to shareholders. Our balance sheet remains strong and provides us with the flexibility to react to the fast changing environment in which we operate."

The buy-back programme will be conducted by brokers mandated by the Company and in accordance with the terms of the existing general authority to make market purchases approved at the Company's 2010 Annual General Meeting and in a manner consistent with Chapter 12 of the United Kingdom Listing Rules. It is also intended that shareholders be asked to give the Company a similar authority at the Company's 2011 Annual General Meeting. Any purchases will be made in the open market and at a maximum price equal to the higher of (i) 105 per cent. of the average middle market closing price of the Ordinary Shares for the five dealing days immediately preceding the date of purchase, and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venue(s) where the purchase was carried out. Any purchase will be subject to availability and market conditions and will be announced to a Regulatory Information Service by no later than 7.30am on the business day following any purchase.

For more information, please contact:

Powerscourt

Rory Godson

Paul Durman

Roddy Cameron

Tel: +44 20 7250 1446

About Betfair

Betfair is the world's biggest betting community and one of the world's leading online betting and gaming operators.

At the heart of Betfair is its pioneering Betting Exchange, where customers come together in order to bet at odds set by themselves or offered by other customers, instead of with a traditional bookmaker. The Betting Exchange provides customers with better pricing and more choice and flexibility than competing products, which has resulted in Betfair's customers showing greater levels of loyalty than its competitors with significantly higher customer satisfaction rates.

 Betfair additionally offers a range of other sports betting products, casino games and poker. As at 30 April 2011, Betfair had more than 3 million registered customers worldwide and processed, on average, more than 7 million transactions per day on the Betting Exchange, more than all European Stock Exchanges combined during the preceding 12 month period.

Betfair also owns Betfair US, which comprises TVG (a licensed US horse racing wagering and television broadcasting business) and a development office in California, and 74.8% of LMAX, which operates an exchange platform for online retail financial trading which has evolved from Betfair's exchange platform technology. In addition, Betfair has a 50% holding in Betfair Australia, a joint venture which operates a licensed betting exchange business in Australia.

The Betfair Group employs more than 2,000 people and has twice been named the UK's 'Company of the Year' by the Confederation of British Industry and has won two Queen's Awards for Enterprise, being recognised for Innovation in 2003 and most recently for International Trade in 2008.

Disclaimer

This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities of Betfair Group plc ("Betfair"). Neither this announcement nor the fact of its distribution constitutes a recommendation regarding any securities.

Certain statements, beliefs and opinions contained in this announcement, particularly those regarding the possible or assumed future financial or other performance of Betfair, industry growth or other trend projections are or may be forward looking statements. Forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond Betfair's ability to control or predict. Forward-looking statements are not guarantees of future performance. No representation is made that any of these statements or forecasts will come to pass or that any forecast result will be achieved.

Neither Betfair, nor any of its associates or directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur. You are cautioned not to place undue reliance on these forward-looking statements.

Other than in accordance with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure and Transparency Rules of the Financial Services Authority), Betfair is not under any obligation and Betfair expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that earnings per Betfair share for the current or future financial years would necessarily match or exceed the historical published earnings per Betfair share.

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