Schibsted ASA (SCH) - Acquisition of shares in Media Norge ASA

Schibsted Media Group has agreed to acquire 1,544,547 shares in Media Norge ASA

from Else M. Stockfleth, Jan B. Stockfleth, Reidar E. Stockfleth, and Johannes

Benestad AS at NOK 72.50 per share.

Payment will be partly in cash and partly in Schibsted shares from the company's

treasury. The exchange rate is based on the average trading price for the

Schibsted share on 22 December 2010, which was NOK 171.35. This implies that

Schibsted reduces its number of own shares by 163,378.

Additionally, Schibsted has offered to acquire 340,000 shares in Media Norge ASA

from Avisen Agder AS at NOK 72.50 per share. The shares will be paid fully in

cash. The transaction is conditional on approval by the board of directors of

Avisen Agder AS.

Through these transactions, Schibsted increases its holding in Media Norge ASA

from 82.3 per cent to 84.2 per cent.

The transaction is expected to close within the coming days. After the

transaction, Schibsted will hold 4,067,062 own shares, of which 3,850,940 are

held by Schibsted ASA and 39,500 are held by the subsidiary Bergens Tidende. AS.

Contact person:

Trond Berger, CFO. Mobile: +47 916 86 695

Oslo, 6 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#1477574]

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