SGH LIMITED — M&A Activity 2011

Apr 20, 2011

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WEST AUSTRALIAN NEWSPAPERS HOLDINGS LIMITED

A.B.N. 9 1 0 5 3 4 8 0 8 4 5

Thursday, 21 April 2011

Completion of Acquisition of Seven Media Group

West Australian Newspapers Holdings Limited (WAN) is pleased to announce that it has completed the acquisition of 100% of Seven Media Group (SMG) from Seven Group Holdings Limited (SGH) for an enterprise value of $4,085 million.

In accordance with the resolutions passed at the Company’s Extraordinary General Meeting on 11 April 2011, WAN has changed its name to “Seven West Media Limited” with effect from today. Seven West Media will maintain WAN’s existing ASX listing, though the Company’s ASX code will change from “WAN” to "SWM" on or around 29 April 2011.

With diversified operations including newspaper, free-to-air television, magazine and digital media, Seven West Media is one of Australia's leading media companies.

Commenting on completion, on behalf of the Independent Board Committee, Mr Doug Flynn, said, "Bringing this proposal to fruition has been a lengthy process in which the Independent Directors of WAN have sought the best strategic and economic course for WAN and its shareholders. We look forward to the next stage which will involve the integration of SMG to create the pre-eminent media company in Australia, Seven West Media .”

For further information please contact:

Mr Doug Flynn Mr John Frey Non Executive Independent Director Principal West Australian Newspapers Cosway Australia +61 8 9482 3023 +61 411 361 361

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