Update on capital restructuring

For Immediate Release 30 July, 2012

hibu plc

Update on capital restructuring

hibu plc ("the Group") today announces that it will seek to form a co-ordinating committee of lenders in the near future.

The co-ordinating committee will represent the interests of the lenders during the process of determining an appropriate new capital structure for the Group. The committee will also work with the Group to ensure that the interests of the lender community are fairly represented and consulted throughout the process.

Bob Wigley, Chairman, said:

"Following the appointment of Goldman Sachs and Greenhill as advisers in May and an extensive review of the options, the Board has decided to move proactively and engage with our stakeholders. Our aim is to formulate a capital structure which will support the Group's exciting business potential while safeguarding existing shareholders' interests to the fullest extent possible."

Ends

About hibu plc

hibu helps communities thrive by facilitating millions of connections each year between consumers who want to find products and services locally and the merchants who provide them.

hibu helps consumers find local businesses and shop in new, innovative ways. Its dedicated online hibu markets provide comprehensive, convenient access to local goods and services. hibu helps merchants compete in the digital world with a broad range of marketing and commerce solutions delivered online and through hibu's direct sales teams. Building on its heritage as a premier directories provider, hibu continues to offer a full range of print- and distribution-based marketing services.

hibu operates in the UK, US, Spain, Argentina, Chile, Peru and US Hispanic markets. In the year ended 31 March 2012, hibu had 1.2 million SME customers and total revenues of £1.6 billion.

For further information about hibu, visit hibu.com.

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