SKY PRICES £3.25 BILLION IN BOND FINANCE

British Sky Broadcasting Group plc

10 September 2014

SKY PRICES £3.25 BILLION IN BOND FINANCE FOR SKY EUROPE TRANSACTION

British Sky Broadcasting Group plc announced today that it has successfully priced £3.25 billion (equivalent) of Euro and US dollar denominated bonds.

Proceeds from the bonds will be available to finance the acquisition of 100% of Sky Italia and 57.4% of Sky Deutschland, which was announced on 25 July 2014.

The four tranches of bonds to be issued are:

i. €1,500 million Senior Unsecured Notes, coupon of 1.500%, due 2021

ii. €1,000 million Senior Unsecured Notes, coupon of 2.500%, due 2026

iii. US$750 million Senior Unsecured Notes, coupon of 2.625%, due 2019

iv. US$1,250 million Senior Unsecured Notes, coupon of 3.750%, due 2024

As a result, Sky's gross debt (which stood at £2,589 million at 30 June 2014) will increase by £3.25 billion.

Proceeds of the US dollar bonds will be swapped into Euros, resulting in a cost to Sky of approximately 1.3% for the bonds due in 2019 and 2.4% for the bonds due in 2024.

After all professional, advisory, rating agency & legal fees, the company expects the blended pre-tax cost of the new bonds issued to be less than 2.5% per annum, reducing Sky's overall pre-tax cost of debt (including all bonds outstanding prior to the announcement of the acquisitions) to approximately 4% per annum.

Address of Issuer:

British Sky Broadcasting Group plc

Grant Way

Isleworth

Middlesex TW7 5QD

Analyst/Investor Enquiries:

Tanya Richards 020 7032 3019

Lang Messer 020 7032 2657

Press Enquiries:

Eleanor Mills 020 7032 6615

Not for distribution, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction where to do so would be unlawful.

This communication is not an offer of securities for sale in the United States, Australia, Canada, Japan or any other jurisdiction where to do so would be unlawful. Sky has not registered, and does not intend to register, any portion of the securities in any of these jurisdictions and does not intend to conduct a public offering of securities in any of these jurisdictions. In particular, the securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws. In the United States, the offer of U.S. Dollar Notes is being made only to qualified institutional buyers ("QIBs") in reliance on Rule 144A under the Securities Act or another available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Outside the United States, the offer of U.S. Dollar Notes is being made to non-U.S. persons in accordance with Regulation S under the Securities Act. Prospective purchasers are hereby notified that the sellers or issuers of the securities may be relying on the exemption from the registration requirements of the Securities Act provided by Rule 144A of the Securities Act or another available exemption from registration.