Pre Close Trading Update

25 September 2013 Daily Mail and General Trust plc (`DMGT') Pre Close Trading Update Ahead of the year end on 30 September 2013, this statement provides an updateon the Group's progress in the current year. It covers the eleven month periodto the end of August 2013 and includes comments on September. Summary - Solid Group revenue performance, up 2% underlying# - Good revenue growth from B2B operations, up 6% underlying# - Resilient revenue performance at dmg media, down 2% underlying# - Active portfolio management; targeted acquisitions and non-core asset disposals - Share buy back programme of £69 million to date - Net debt/EBITDA ratio expected to be less than 2.0 at year end - Full Year guidance unchanged and in line with market expectations~ Revenue Growth v Prior Year Reported Underlying#11 months to August 2013Group revenue+ -8% +2%B2B (including Euromoney) +6% +6%RMS +7% +6%dmg information +15% +11%dmg events -2% +11%dmg media -6% -2% Business to Business (B2B) - Risk Management Solutions (RMS) delivered continued growth drivenby its core business in catastrophic risk modelling. RMS(one) remains onschedule to be launched in April 2014. - Strong growth at dmg information with good performance across allsectors; double digit underlying growth delivered by Hobsons, Genscape and ourproperty information companies. - dmg events performed as expected, with an underlying revenueincrease of 11%. The reduction in reported revenue is due to the sale ofEvanta in September 2012. - Continued solid performance from Euromoney InstitutionalInvestor, which released its trading update yesterday. Consumer Revenue Growth v Prior Year Reported Underlying# 11 months to August 2013 H1 Q3 July & YTD H1 Q3 July & YTD August^ August^dmg media -7% -6% -6% -6% -2% 0% -3% -2%Advertising -4% -5% -7% -5% +2% +2% -5% +1%Circulation -6% -5% -3% -5% -5% -3% 0% -4% - dmg media's year to date underlying# circulation revenues aredown 4% as the benefit of February's weekday cover price increase was offsetby lower volumes. Encouragingly, however, underlying circulation revenuesduring July and August were in line with last year and the Daily Mail achievedan improved market share of 22.1% in August*. Total year to date underlying# advertising revenues were up 1%,with newspapers down 8%, newspaper companion websites (mainly MailOnline) up45%, and other digital advertising (largely Evenbase and Wowcher) up 21%.MailOnline's monthly unique browsers in August stood at a record 138 million,up 30% on last year. Average daily unique browsers were 9.0 million, anincrease of 36% on last year, reflecting higher levels of engagement with thesite. During July, August and September 2013, year on year advertisingcomparisons were adversely impacted by the Olympics and Paralympics takingplace during 2012. Total underlying# advertising revenues were down 5% in Julyand August and, for the four weeks since 25 August 2013, were down 11% on lastyear. Group Portfolio management activity continued during the year withbolt-on acquisitions at dmg information (First Search, Vessel Tracker,Edumate, Beat the GMAT and National Transcript Center) and Euromoney (TTIVanguard, Centre for Investor Education and Insider Publishing). Acquisitionshave used £94 million of cash in the eleven months to August, including £11million purchasing Euromoney shares. Disposals have included Northcliffe Mediaand dmg media's central and eastern European operations and disposal proceedshave totalled £95 million. The amount spent on the DMGT share buy back programme todate is £69 million. The year end net debt:EBITDA ratio is expected to be lessthan 2.0. Full year guidance remains unchanged as confirmed at the recent B2BInvestor Briefing held on 5 September 2013. We expect our adjusted results tobe in line with market expectations~. RCL Ordinary Shares acquisition: on 14 August 2013, the IndependentDirectors of DMGT and the Directors of Rothermere Continuation Limited (RCL)announced that RCL would make an offer for the remaining 10.8% of OrdinaryShares not held by RCL. The Independent Directors of DMGT support the terms ofthe Offer, having been advised by Lazard that it is fair and reasonable. Theshare buy back programme has been on hold since 1 July 2013, due to theCompany being subject to an Offer under the City Code. For further information For analyst and institutional enquiries: Stephen Daintith, Finance Director +44 20 3615 2902Adam Webster, Head of Management Informationand Investor Relations +44 20 3615 2903 For media enquiries: Kim Fletcher / Charlie Potter, Brunswick Group +44 20 7404 5959 Conference call A conference call will be held with City analysts at 8.00 am on 25September 2013. The dial-in number is +44 (0) 1452 555 566; conference code:59085656. A replay of the call will be available on DMGT's website atwww.dmgt.com. Next trading update The Group's next scheduled announcement of financial informationwill be its preliminary results for the year ended 30 September 2013, whichwill be released on the morning of Thursday 21 November 2013. About DMGT DMGT is an international business built on entrepreneurship and innovation. Webring together leading companies and talented people to provide businesses andconsumers with high-quality analysis & insight, information, news andentertainment. Notes + Northcliffe Media, which was disposed of at the end of December2012, is included in Group reported revenues up to the date of its sale.Excluding Northcliffe Media, year to date reported revenues were in line withlast year. # Underlying revenue is revenue on a like for like basis, adjustedfor constant exchange rates, disposals, closures, non-annual events occurringin the current and prior year and, with the exception of Euromoney,acquisitions. For dmg events, the comparisons are between events held in theyear and the same events held the previous time, and exclude Evanta. ForEuromoney, underlying revenue excludes biennial events that did not occur thisyear. For dmg media, underlying comparisons exclude the discontinued lowmargin contract printing of the Evening Standard, the effects of the sale ofTeletext Holidays and motors.co.uk last year, the disposal of the central andeastern European businesses this year, and the merger of the Digital PropertyGroup and Zoopla at the end of May 2012, and include the organic growth fromJobrapido. Northcliffe Media is excluded from the DMGT Group underlyingcomparisons. ~ Current City analyst expectations of adjusted profit before taxfor 2013 range from £259 million to £282 million and adjusted earnings pershare from 50.1 pence to 55.0 pence with a consensus of £270 million and 52.1pence. Adjusted results are from continuing and discontinued operations andare before exceptional items, impairment of goodwill and intangible assets,and amortisation of intangible assets arising on business combinations. ^ References to July and August are to the eight weeks to 25 August2013. * Daily Mail 22.1%, compared to 21.7% last year and The Mail onSunday 21.0% compared to 20.5% last year. Circulation market share figures arecalculated using ABC's August 2012 and August 2013 National NewspapersReports. The average £:$ exchange rate for the eleven months was £1:$1.56(against £1:$1.57 in the same period last year). The rate as at 23 September2013 was $1.60 compared to the 30 September 2012 year end rate of $1.62. DMGT's estimated weighted average number of shares in issue, afterdeducting shares held in Treasury, for the full year is 377.5 million (2012:382.8 million). The total number of shares in issue, after deducting sharesheld in Treasury, is currently 373.2 million. This trading update is prepared for and addressed only to theGroup's shareholders as a whole and to no other person. The Group, itsDirectors, employees, agents or advisers do not accept or assumeresponsibility to any other person to whom this document is shown or intowhose hands it may come and any such responsibility or liability is expresslydisclaimed. Statements contained in this document are based on the knowledgeand information available to the Group's Directors at the date it was preparedand therefore the facts stated and views expressed may change after that date.By their nature, the statements concerning the risks and uncertainties facingthe Group in this document involve uncertainty since future events andcircumstances can cause results and developments to differ materially fromthose anticipated. To the extent that this document contains any statementdealing with any time after the date of its preparation such statement ismerely predictive and speculative as it relates to events and circumstanceswhich are yet to occur. The Group undertakes no obligation to update theseforward-looking statements. No statement in this document is intended as a profit forecast or aprofit estimate and no statement in this document should be interpreted tomean that earnings per DMGT share for the current or future financial yearswould necessarily match or exceed the historical published earnings per DMGTshare. This document does not constitute or form part of any offer orinvitation to sell or issue, or any solicitation of any offer to purchase orsubscribe for any securities. The making of this document does not constitutea recommendation regarding any securities. Daily Mail and General Trust plcNorthcliffe House, 2 Derry Street,London, W8 5TT www.dmgt.comRegistered in England and Wales No. 184594