DMGT issues £175m 5.75pc Bonds

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Friday 6 June 2003

(London - 6 June 2003) Daily Mail and General Trust plc announces the issue of £175,000,000 5.75 per cent. Bonds due 2018 (the 'Bonds'). The Joint Bookrunners to the issue are HSBC Bank plc and The Royal Bank of Scotland plc. The authorised advisor is HSBC Bank plc.

The Bonds have been priced to yield a margin of 155 basis points over the gross redemption yield of the 8 per cent. Treasury Stock due 2015. The issue and re-offer price has been set as 99.9110 per cent.

Interest will be payable annually in arrear on 7th December in each year, the first such payment being made on 7th December 2003, in respect of the period 26th June 2003 to 7th December 2003.

The Bonds will be redeemed at par on 7th December 2018.

The proceeds of the issue will be used for refinancing existing short term indebtedness.

Application will be made for the Bonds to be admitted to the Official List of the UK Listing Authority, and to trading on the London Stock Exchange. It is expected that official dealings will commence on 27th June 2003. Prior to official listing, dealings will be permitted by the London Stock Exchange in accordance with its rules.

In connection with the issue of the Bonds, HSBC Bank plc or any person acting for it may over-allot or effect transactions with a view to supporting the market price of the Bonds at a level higher than that which might otherwise prevail for a limited period after the 26th June 2003. However, there may be no obligation on HSBC Bank plc or any agent of HSBC Bank plc to do this. Such stabilising, if commenced, may be discontinued at any time and must be brought to an end after a limited period.