Pricing of Bonds

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

14 May 2014

Johnston Press plc

PRICING OF £225 MILLION SENIOR SECURED NOTES TO BE ISSUED BY JOHNSTON PRESS BOND PLC

Further to the announcement of its capital refinancing plan on 9 May 2014 and the publication of a prospectus in respect of that capital refinancing plan (the "Prospectus"), Johnston Press plc ("Johnston Press") announces the pricing of the offering by Johnston Press Bond Plc on 13 May 2014 of an aggregate of £225 million 8.625% senior secured notes due 2019 (the "Notes") at an issue price of 98%.

The gross proceeds from the offering of the Notes will, when the offering is completed, be placed into an escrow account. The release of the escrowed proceeds will be subject to the satisfaction of certain conditions in connection with the capital refinancing plan including the receipt of proceeds by Johnston Press from the placing and rights issue announced on 9 May 2014.

For further information, please contact:

Johnston Press

Ashley Highfield, Chief Executive Officer

David King, Chief Financial Officer

Jane Muirhead, Group Head of PR

+44 (0) 20 7612 2616

Buchanan

Richard Oldworth/Sophie McNulty/Clare Akhurst

 +44 (0) 20 7466 5000

IMPORTANT NOTICE

This announcement has been issued by and is the sole responsibility of Johnston Press PLC ("Johnston Press" or the "Company").

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE A PROSPECTUS OR ANY OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION.

The notes have not been or will registered under the US securities Act of 1933, as amended (the "Securities Act") or under the applicable securities laws of any state or other jurisdiction of the United States or the securities legislation of any province or territory of Canada, Australia, Japan or the Republic of South Africa. Accordingly, the Notes may not be offered, sold resold, delivered or distributed, directly or indirectly, in or into the United States absent registration, or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with state securities laws, or in or into Canada, Australia, Japan or the Republic of South Africa except in accordance with applicable law. There will be no public offer of the Notes in the United States, Canada, Australia, Japan or the Republic of South Africa.

Within the United Kingdom, this announcement is directed only at persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("relevant persons"). The investment or investment activity to which this announcement relates is only available to and will only be engaged in with relevant persons and persons who receive this announcement who are not relevant persons should not rely or act upon it.

No incorporation of website information

The contents of the Company's website or any website mentioned in this announcement or any website directly or indirectly linked to the Company's website have not been verified and do not form part of this announcement and investors should not rely on it.

Information regarding forward-looking statements

This announcement includes forward-looking statements. The words ''believe'', ''anticipate'', ''expect'', ''intend'', ''aim'', ''plan'', ''predict'', ''continue'', ''assume'', ''positioned'', ''may'', ''will'', ''should'', ''shall'', ''risk'' and other similar expressions that are predictions of or indicate future events and future trends identify forward-looking statements. These forward-looking statements include all matters that are not historical facts. In particular, any statements regarding the Company's strategy, dividend policy and other future events or prospects are forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are in many cases beyond the Company's control. 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. We caution you that forward-looking statements are not guarantees of future performance and that the Company's actual results of operations, financial condition and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that the Company, or persons acting on its behalf, may issue. These forward-looking statements reflect the Company's judgment at the date of this announcement and are not intended to give any assurances as to future results. The Company undertakes no obligation to update these forward-looking statements, and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this announcement. The Company will comply with its obligations to publish updated information as required by law or by any regulatory authority but assumes no further obligation to publish additional information.