SGH LIMITED — Board/Management Information 2011

May 11, 2011

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James Warburton to commence as Ten Holdings CEO on 1 January 2012

12 May 2011

Ten Network Holdings Limited (‘Ten Holdings’) today acknowledged the decision of Justice Pembroke in the Supreme Court of New South Wales setting the commencement date for James Warburton as CEO of Ten Holdings at 1 January 2012. The decision was made in the legal proceedings brought by Seven Network (Operations) Limited (‘Seven’) against Mr Warburton.

Ten Holdings Chairman, Brian Long, said: “We now have certainty about James’s starting date and, while we are disappointed it has been delayed, the business continues to benefit from the actions being taken by interim CEO Lachlan Murdoch.”

“Lachlan is driving a focussed and aggressive change agenda. We are already seeing results, including action on costs, cross-platform and integrated sales, a successfully re-launched ONE and improvements in News,” Mr Long said.

“There will be a smooth transition between Lachlan and James, and the strategies underway will accelerate our growth plans.”

As announced on 1 April 2011, the Supreme Court of New South Wales dismissed the legal proceedings brought by Seven against Ten Holdings, ordering Seven to pay Ten Holdings’ legal costs on a full indemnity basis.

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Contact:

Jeannette McLoughlin Network Ten (02) 9650 1012

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