Sale of Paraguay Operations

GRUPO CLARIN S.A.

Sale of Paraguay Operations

On 27 August 2012, Grupo Clarín S.A. (the "Company") disclosed additional information to the Argentine Securities Commission and the Buenos Aires Stock Exchange in connection with the sale of substantially all the assets and operations of the current subsidiaries of Cablevisión S.A. ("Cablevisión") in the Republic of Paraguay to Telefónica Celular del Paraguay S.A., a subsidiary of Millicom International Cellular S.A. The Company informed that on 27 August 2012, such subsidiaries had informed Cablevisión-a subsidiary of the Company-that the regulatory authority of Paraguay, the National Telecommunications Commission, had authorized the transfer of their respective telecommunications licenses within the framework of the abovementioned transaction.

The Company will continue to disclose any relevant facts relating to the fulfillment of the other conditions precedent that are still pending, and the completion of the transaction.

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]