TELSTRA GROUP LIMITED — M&A Activity 2012

Mar 26, 2012

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27 March 2012

Company Announcements Office Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Sir or Madam

AUSTAR UNITED COMMUNICATIONS LIMITED (ASX: AUN):

Please find attached an announcement from AUSTAR noting the ACCC’s revised timing for completion of its review of the proposed FOXTEL transaction.

Yours faithfully

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Deanne Weir Company Secretary

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Media Release

27 March 2012

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AUSTAR Notes ACCC Revised Timing

AUSTAR United Communications (ASX: AUN) ( AUSTAR ) notes that the Australian Competition and Consumer Commission ( ACCC ) has today announced that it has suspended its timeline for reaching a decision in relation to the proposed acquisition of AUSTAR by FOXTEL Management Pty Limited ( FOXTEL ) in order to finalise discussions with FOXTEL in relation to draft undertakings.

In order to avoid further inconvenience to shareholders, AUSTAR intends to proceed with the planned Shareholder Meetings on 30 March 2012, but defer the Second Court Hearing. AUSTAR will apply to the Court tomorrow for the requisite orders and a new date for the Second Court Hearing.

While AUSTAR remains optimistic of a positive outcome, by proceeding with the Shareholder Meetings on 30 March, AUSTAR makes no representations that ACCC approval will either be granted or be granted in sufficient time to enable the transaction to proceed. The Second Court Hearing will not take place unless ACCC approval is granted.

If shareholders have questions in relation to the Transaction they may call the AUSTAR Shareholder Information Line 1300 706 158 (within Australia) or on +61 3 9946 4459 (outside Australia) Monday to Friday between 9:00am and 5:00pm (Sydney time) or contact their legal, financial, taxation or other professional adviser. Information is also available through AUSTAR’s website, www.austarunited.com.au.

ENDS

Media Contacts:

Deanne Weir M +61 (0) 402 865 300 E dweir@austar.com.au

Rebecca Tabakoff M +61 (0)419 229 878 E rebecca.tabakoff@fticonsulting.com

Austar United Communications (AUSTAR)

www.austarunited.com.au

AUSTAR (Australian Stock Exchange “AUN”) is a leading provider of subscription television services in regional and rural Australia, with more than 750,000 customers enjoying satellite digital television services. AUSTAR is also a significant provider of programming in the Australian television market through its 50% owned joint venture, XYZnetworks, which owns and/or distributes Nickelodeon, Nick Jr, Discovery Channel, Channel [V], [V]Hits, MAX, Arena, The Lifestyle Channel, Lifestyle Food, LifeStyle You, Country Music Channel and The Weather Channel. Liberty Global, Inc., the largest international broadband cable operator in terms of subscribers, holds an indirect controlling stake in AUSTAR.