Update on judicial review proceedings

INDEPENDENT NEWS AND MEDIA PLC

Update on judicial review proceedings

Dublin/London, 1 June 2018: The High Court of Ireland has today ruled against the Company's application to have the Director of Corporate Enforcement's (the "Director's") decision to apply to the High Court to appoint inspectors to the Company overturned.

The Company had applied to have the Director's decision to make the application overturned on the basis, the Company argued, that the decision was taken in breach of the Company's rights to fair procedures and on related grounds.

No date has yet been set for the Director's application to the High Court for the appointment of inspectors to investigate the affairs of the Company. It is expected that the application will be heard by the High Court in June 2018. The Company is opposing the ODCE's application.

The Board will consider the terms of today's decision and the further action that the Company might take in the interests of the Company and its stakeholders.

For further information, contact:

MEDIA

Peter O' Brien

Wilson Hartnell

+353 1 669 0030 (office)

peter.o'[email protected]