ARN MEDIA LIMITED — Director's Dealing 2011

Apr 4, 2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity – APN News & Media Limited

ABN – 95 008 637 643

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Pierce Patrick Cody
Date of last notice	5 October 2010

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	11,582 ordinary sharesPierpat Pty Ltd Super Fund – Pierce Cody is adirector and the sole shareholder in Pierpat PtyLtd, the trustee of the Super Fund.7,467 ordinary sharesEstate of Pierce Thomas Cody – Pierce Cody is atrustee of the estate and a beneficiary.81,001 ordinary sharesInistioge Pty Ltd – Pierce Cody has a relevantinterest as a shareholder director of the company.
Date of change	31 March 2011
No. of securities held prior to change	Direct – 4,706 ordinary sharesIndirect – 100,050 ordinaryshares
Class	Ordinary
Number acquired	Direct – 225 ordinary shares
Number disposed	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration	$329.96
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	Direct – 4,931 ordinary shares
	Indirect – 100,050 ordinary shares
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Issue of shares under dividend reinvestment plan.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

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----- Start of picture text ----- Detail of contract N/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relationto which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuationInterest after change----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002