TELSTRA GROUP LIMITED — M&A Activity 2012

Apr 12, 2012

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ASX / MEDIA RELEASE

FOR IMMEDIATE RELEASE

13 APRIL 2012

FEDERAL COURT APPROVAL

SYDNEY: Consolidated Media Holdings Limited ( CMH ) (ASX:CMJ) announces today that the Federal Court has approved the AUSTAR scheme of arrangement in relation to FOXTEL’s acquisition of AUSTAR. FOXTEL expects to complete the acquisition of AUSTAR in late May 2012.

A copy of FOXTEL’s media release follows.

ENDS

COPIES OF RELEASES

Copies of previous ASX announcements issued by CMH are available at CMH’s website at www.cmh.com.au

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FOXTEL welcomes Federal Court approval of AUSTAR merger

Media Release: 13 April 2012

FOXTEL Chief Executive Officer Richard Freudenstein today noted that the AUSTAR Scheme of Arrangement in relation to FOXTEL’s acquisition of AUSTAR has been approved by the Federal Court.

The Scheme received overwhelming support from AUSTAR Shareholders in a vote held on 30 March. This was followed on 10 April by a green light from the ACCC, who accepted an undertaking from FOXTEL to facilitate the process.

Mr Freudenstein said “Today’s court approval was the final hurdle and we are excited to start bringing together these businesses to form one of Australia’s most dynamic and progressive media companies”.

Based on the current timetable FOXTEL expects to take ownership of AUSTAR in late May. In the meantime FOXTEL will continue to service FOXTEL customers and AUSTAR will continue to service AUSTAR customers.

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For more information call Mark Furness on 0419 275 504 or email: mark.furness@lastwordcc.com.au

About FOXTEL

FOXTEL is Australia's leading subscription television provider. FOXTEL strives to ensure subscribers find TV they want to watch every time they switch on through delivery of a range of high quality channels covering news, sport, general entertainment, movies, documentaries, music and children’s programming. FOXTEL is owned by Telstra Corporation Limited ACN 051 775 556 (50%), The News Corporation Ltd (25%), and Consolidated Media Holdings Ltd (25%).