ARN MEDIA LIMITED — Capital/Financing Update 2012

Feb 16, 2012

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M A R K E T A N O U N C E M E N T

UPDATE ON APN OUTDOOR

SYDNEY, 17 February, 2012 – APN News & Media Limited [ASX, NZX:APN] today provided an update in relation to the expansion opportunities being explored in the company’s Outdoor Division following speculation in today’s media.

As announced on 21 November 2011, APN undertook a strategic review with the aim of determining how to best expand its Outdoor operations, including potential partnership opportunities.

APN announces it has entered a period of exclusivity with Quadrant Private Equity in relation to a partnership opportunity across its wholly owned Outdoor businesses. APN and Quadrant have yet to reach final agreement. APN intend to provide a further update at its Full Year results announcement on 23 February 2012.

Outdoor advertising is one of the strongest performing media sectors, and APN expects that this will continue. The future of the Outdoor sector is strong, with opportunities for product innovation around mobility and digital. As one of the leading participants in the sector, APN is committed to continuing to drive this industry growth and innovation.

-ENDS -

For further information: Peter Brookes, Citadel, 0407 911 389

APN News & Media Limited ACN 008 637 643 Level 4 100 William Street Sydney NSW 2011 Australia Telephone 61 2 9333 4999 Facsimile 61 2 9333 4900