Subsidiary's Acquisition in Australian Radio

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Friday 10 October 1997

DMG Radio Australia Partnership, which is wholly owned by DMGT, has today announced the acquisition of Regional Broadcasters Australia Pty Limited ( RBA ), the holding company for the radio assets of Rural Press Limited. The acquisition is of 25 AM and FM radio stations and licences for 9 FM radio stations for a consideration of A$88 million which has been settled in cash.

In the year to 30 June, 1997, based on unaudited figures, RBA made a pre-tax profit of A$7.2 million on turnover of A$25.3 million and had net assets of A$14.4 million.

RBA s portfolio includes radio stations in regional Queensland and Western Australia and complements DMG Radio Australia's presence in New South Wales and Victoria.

The acquisition forms part of DMGT's strategy of developing its interests in the expanding Australian radio industry and is expected to be earnings enhancing for DMGT.

Inquiries: Peter Williams 0171 938 6631