SGH LIMITED — Capital/Financing Update 2011

Mar 2, 2011

[On WAN letterhead]

WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED A.B.N. 9 1 0 5 3 4 8 0 8 4 5

Supplementary Prospectus

Resignation of Mr Warburton from Seven Media Group

West Australian Newspapers Holdings Limited ( WAN ) has been advised by Seven Group Holdings Limited that the former Chief Sales and Digital Officer of Seven Media Group, James Warburton, has resigned to take up a position as the new CEO of Ten Network Holdings Limited, subject to his contractual commitments. As a result, Mr Warburton will not join the management team of Seven West Media following completion of the acquisition of Seven Media Group.

The Independent Board Committee believes that Seven Media Group has a deep pool of management talent from which to draw a suitable successor to Mr Warburton.

3 March 2011

This is a Supplementary Prospectus prepared and issued by WAN ( Supplementary Prospectus ).

It supplements the Prospectus dated 21 February 2011 (the Prospectus ) in connection with the Offers and is to be read together with the Prospectus. Defined terms and abbreviations used in this Supplementary Prospectus have the meaning set out in the Glossary of the Prospectus.

This Supplementary Prospectus is dated 3 March 2011 and a copy of it was lodged with ASIC on that date. ASIC takes no responsibility for the content of the Supplementary Prospectus.