IFRS Presentation

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Tuesday 7 June 2005

DMGT is conducting a telephone conference call this afternoon with City analysts to talk about the likely impact on the Group of international financial reporting standards ('IFRS') under which it will be required to report from 2005/06. The presentation will be webcast from 3 p.m. and will be available live on the Company’s website, dmgt.co.uk.

During the presentation, it will be stated that the main IFRS areas that affect DMGT are employment benefits (mainly pensions), share based payments, goodwill and intangibles, dividends, deferred tax and financial instruments.

DMGT's transition date is 4th October 2004 and its first comparative figures will be for the current financial year so there is not yet a set of full year's results to restate. Accordingly the presentation will cover the estimated adjustments to DMGT's 2004 balance sheet, to its 2005 interim results and, where possible, an indication will be given of the full year impact of the adjustments to earnings.

It will be stressed that, although the numbers being presented are in line with current international standards, it may be that the International Accounting Standards Board will offer further guidance which may change DMGT's numbers ahead of the publication of its audited 2005 IFRS balance sheet at the time of the announcement of its interim results in May 2006. Therefore the numbers to be presented today are still fluid and are unaudited.

In summary, DMGT believes that its 2005 interim adjusted profit before tax will be £12 million lower under IFRS, of which £6 million is mainly a timing difference which will reverse in the second half of the year.

Statutory interim post-tax profit will be £24 million higher than under UK GAAP, principally due to the requirement not to amortise goodwill under IFRS.

Net assets in DMGT's opening Group balance sheet at 4th October 2004 will be reduced by £231 million mainly due to the impact of the new pensions' standard, IAS 19.

There will be no impact on cash flows, although the presentation of the Cash Flow Statement will change; nor should there be any impact on historic net debt.

Enquiries:

Peter Williams, Finance Director, DMGT 020 7938 6631
Nicholas Jennings, Company Secretary, DMGT, 020 7938 6625
John Donegan, Group Financial Controller, DMGT, 020 7938 6627