Statement Regarding Media Speculation

This announcement contains inside information.

29 November 2016

INDEPENDENT NEWS & MEDIA PLC

Statement Regarding Media Speculation

29th November 2016 - Independent News & Media PLC (the "Company"), noting recent media speculation, confirms that an issue arose between the Chief Executive Officer and the Chairman in relation to the terms of a possible acquisition by the Company. Discussions on the possible acquisition ended at a preliminary stage and the acquisition was never considered by the Board. The CEO raised the issue with the Company's Senior Independent Director. The Board established a sub-committee to review the issue and the sub-committee reported to the Board that no issue of concern arose for the Company. The Board has, with the agreed absence of the CEO and Chairman, unanimously adopted the committee's report.

The Board and the Company's management remain fully focussed on the business and in ensuring that day-to-day operations are conducted as normal.

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