SENS Note - 02 July 2007

MTN -- final unwind of hedge

In terms of an agreement for the funding of Newshelf entered into in 2003, Newshelf was obliged to enter into a hedging transaction in respect of 65.5 million MTN shares. These MTN shares were also the subject of a scrip lending arrangement. This hedging transaction and scrip lending arrangement has been naturally unwound in accordance with the agreement entered into in 2003.

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