Acquisition of Perex by Northcliffe International

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Tuesday 8 August 2006

Northcliffe International, a division of DMGT plc, announces that it has acquired Perex a.s., the publisher of Pravda, the leading national quality daily newspaper in Slovakia.

Pravda is the oldest national title in Slovakia with a circulation of 78,000. The company also publishes three free newspapers, employing 210 people and generates revenues of approximately £8m pa. For avoidance of doubt, it is unconnected with the Russian publication of the same name.

The acquisition is the latest in a series of acquisitions in Slovakia, all of which are based in Bratislava (the capital of Slovakia).

Northcliffe’s Slovakian business, in which it has invested a total of £23 million, now employs over 300 people and generates revenues of £12m. In addition to Pravda, the business operates the market leading jobs website, www.profesia.sk which was acquired earlier this year, Avízo, a daily classified paper circulating 10,000 copies and City Expres a free weekly paper distributing 160,000 copies in and around Bratislava.

The acquisitions are managed via the Northcliffe International management team, who are based in Győr in NW Hungary, only 50 miles from Bratislava.

Northcliffe’s total Eastern European business has revenues of £35m pa and annualised profits of around £6m. As well as the Slovakian businesses, it includes two daily regional newspapers and extensive classified publications in Hungary.

Enquiries:

Michael Pelosi, Managing Director, Northcliffe, 020 7400 1100
Peter Williams, FD, DMGT, 020 7938 6631
Andrew Honnor / Peter Hewer, Tulchan Communications, 020 7353 4200