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Board/Management Information • Jan 17, 2011

Schibsted ASA (SCH) - Changes in the group management team of Schibsted Media Group

CEO Rolv Erik Ryssdal of Schibsted Media Group has decided to change the

composition of the group management team. Torry Pedersen steps out of the team,

as a consequence of his new position as Editor-in-Chief of the VG Media House in

addition to his current position as VG's CEO. Raoul Grünthal, CEO of Schibsted

Sverige, enters the group management team. The changes will be effective as of

1 February 2011.

Torry Pedersen (53) has been a member of the group management team of Schibsted

since August 2009. Pedersen has held the position as CEO of VG since 2008, and

as of 1 March 2011 will he also take up the position as Editor-in-Chief. Bernt

Olufsen (56), who has been the Editor-in-Chief of VG for the past 17 years, will

assume a position at the Schibsted Media Group head office. The management

changes are made as VG is reorganizing, and merging the online and print

operations into one company.

Raoul Grünthal (44) has been the CEO of Schibsted Sverige AB since the company

was established in 2009. Now, he also takes over the positions as chairman of

the Board of Directors of Aftonbladet and Svenska Dagbladet, succeeding Gunnar

Strömblad. In connection to this, he takes place in the group management team of

Schibsted Media Group. Gunnar Strömblad continues as Chairman of the Board of

directors of Schibsted Sverige and as a member of the group management team of

Schibsted Media Group. Raoul Grünthal was CEO of Svenska Dagbladet between 2006

and 2009, and in the period 2003-2006 he was CEO of the news agency TT. He also

has experience from the financial industry and as founder of the financial daily

newspaper Finanstidningen.

As of 1 February 2011, the group management team of Schibsted will have the

following members: CEO Rolv Erik Ryssdal, EVP Gunnar Strömblad, CFO, Trond

Berger, EVP International Sverre Munck, CEO of Schibsted Classified Media Terje

Seljeseth, Head of Legal Affairs Camilla Jarlsby, CEO of Media Norge Didrik

Munck, and CEO of Schibsted Sverige Raoul Grünthal.

Contact person: CEO Rolv Erik Ryssdal, +47 916 00 200

Oslo, 17 January 2011

SCHIBSTED ASA

Jo Christian Steigedal

Vice president IR

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1480200]