Purchase Offer

GRUPO CLARIN S.A.

Purchase Offer

On 14 February 2012, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that on 13 February 2012, the Company's shareholders GC Dominio S.A., Ernestina Laura Herrera de Noble, ELHN - GRUPO CLARIN NEW YORK TRUST, HHM - GRUPO CLARIN NEW YORK TRUST, LRP - Grupo Clarín New York Trust, José Antonio Aranda and Aranlu S.A. received a communication from the shareholders GS Unidos LLC, GS Capital Partners III, L.P., GS Private Equity Partners 1999 - Direct Investment Fund, L.P. and GS Private Equity Partners II - Direct Investment Fund, L.P. pursuant to which they were granted, for a term of 28 days, the right to purchase an aggregate amount of 22,147,617 Class "C" shares of the Company at a price equivalent to US$6.80 per GDS. The offer is under analysis and the offerees will inform the Company of their decision in due course.

Enquiries:

In Buenos Aires:

Alfredo Marín/Agustín Medina Manson

Grupo Clarín

Tel: +5411 4309 7215

Email: [email protected]

In London:

Alex Money/Helen Greenwood

Temple Bar Advisory

Tel: +44 20 7002 1080

Email: [email protected]

In New York:

Melanie Carpenter/Peter Majeski

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: [email protected]