Supercanal Litigation

GRUPO CLARIN S.A.

Supercanal Litigation

On 29 August 2012, Grupo Clarín S.A. (the "Company") submitted to the Argentine Securities Commission and the Buenos Aires Stock Exchange a copy of the decision rendered on 28 August 2012 by the Supreme Court of Argentina (the "Supreme Court") in re "Ami Cable Holding LTD y otros s/ incidente". The Company´s subsidiary Cablevisión S.A. ("Cablevisión") had access to the contents of the decision through the Centro de Información Judicial, an on-line news agency managed by the Argentine Judicial Branch. In its decision, the Supreme Court ruled that a jurisdictional issue had arisen between Chamber II of the National Court of Appeals on Federal Civil and Commercial Matters of the City of Buenos Aires, which currently hears the case "Ami Cable Holding LTD y otros s/apel resol Comisión Nac Defensa de la Competencia", and Federal Court No. 2 of Mendoza, which currently hears the case "Supercanal S.A. c/ Cablevisión S.A. y otros s/amparo". The existence of such jurisdictional issue gives rise to the intervention of the Supreme Court pursuant to Section 24, Subsection 7 of Decree/Law No. 1285/58.

Attached is a free translation of the relevant parts of the decision rendered by the Supreme Court.

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]

Free Translation

Jurisdiction No. 623. XLVIII

Ami Cable Holding LDT and others re/ incidental procedure

National Supreme Court of Justice

Buenos Aires, 28 August 2012

[RECITALS INTENTIONALLY OMITTED]

Therefore, [this Court] decides: I. To suspend the progress of both cases mentioned in the recitals [(*)], both in their main proceedings and their incidental injunctions, as well as the execution of any other measure ordered prior to this decision. II. To request Federal Court No. 2 of Mendoza and the Federal Court of Appeals of Mendoza to send immediately [to the Supreme Court] the original files of all proceedings. III. To order the intervention of the National Attorney General pursuant to Section 33 of Law No. 24,946. Let all the courts referred herein be notified urgently of this decision.

/s/ Ricardo Luis Lorenzetti

/s/ Elena I. Highton de Nolasco

/s/ Carlos S. Fayt

/s/ Enrique S. Petracchi

/s/ Carmen M. Argibay

/s/ Juan Carlos Maqueda

(*) Note: The cases mentioned in the recitals are: "Ami Cable Holding LTD y otros s/apel resol Comisión Nac Defensa de la Competencia" and "Supercanal S.A. c/ Cablevisión S.A. y otros s/amparo".