Placing and Change of Accounting Reference Date

2 November 2012

Media Corporation Plc

("Media Corporation" or the "Company")

Placing and Subscription to Raise £600,000

Change of Accounting Reference Date

Media Corporation, the AIM quoted digital advertising network and online gaming group, is pleased to announce that it has raised £600,000 before expenses, through a conditional placing of 157,500,000 new ordinary shares (the "Placing") and subscription for 142,500,000 new ordinary shares (the "Subscription"). The shares to be issued in conjunction with the Placing and Subscription, to certain institutional and other investors and directors of the Company, will be issued at a price of 0.2p per share. The proceeds of the Placing and Subscription will be used to help fund the launch of Intabet, the Company's online gaming platform, and to provide general working capital for the Company.

Pursuant to the Subscription, new ordinary shares will be issued to Adam Fraser-Harris, Interim CEO of the Company, and Phil Jackson, Chairman of the Company (together, the "Directors"). The individual subscriptions by the Directors and their resultant holdings are set out below.

* The shares issued to Mr Fraser-Harris will be held via Westerhall Consultants Limited, a company wholly owned by Mr Fraser-Harris and his wife.

The issue of shares to the Directors as described above and the issue of 80,000,000 shares pursuant to the Subscription to Christopher O'Neill, a substantial shareholder in the Company (to be held via Jellatech Holdings Limited, a company wholly owned by Mr O'Neill), is deemed a related party transaction under the AIM Rules for Companies. The independent directors (being the directors of the Company with the exception of Adam Fraser-Harris and Phil Jackson) having consulted with Northland Capital Partners Limited (in its capacity as the Company's Nominated Adviser) consider that the terms of the issue of shares to the Directors and to Mr O'Neill pursuant to the Subscription are fair and reasonable insofar as the shareholders of the Company are concerned.

Application will be made to the London Stock Exchange for the new ordinary shares of 0.1p each to be admitted to trading on AIM. Admission is expected to occur and dealings are expected to commence at 8.00am on 7 November 2012. Following the issue of the new ordinary shares, the enlarged issued ordinary share capital of the Company is 894,625,034 ordinary shares of 0.1p each. This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules.

Change of Accounting Reference Date

Media Corporation confirms that it has changed its accounting reference date from 30 September to 31 December, however the Company's current reporting timetable will not change and accordingly, the Company will publish its audited financial report and accounts for the 15-month period to 31 December 2012 by no later than 31 March 2013. Thereafter, the Company will revert to the timetable set out in the AIM Rules for Companies with interim results to 30 June being released within three months of the period end and annual results to 31 December being published within six months of the year end.

Commenting on the Placing and Subscription, Phil Jackson, Chairman of the Company, said:

"I am pleased that we have been able to secure these funds, particularly against a background of very difficult fund raising conditions. The message from investors and across the City has been very clear, with our unique betting platform, we have an exciting future ahead of us, and the launch of Intabet, is our primary focus. Additionally Eyeconomy, our digital media business, continues to improve and our new sales team are making traction, winning new business and creating valuable new alliances with agencies, media owners and brand owners."

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