Completion of the Restructuring and Ordinary Shares in Issue

Dublin/London -23 December, 2013: Independent News & Media PLC ("INM" or "the Company") confirms that the Group's Restructuring is now complete, INM having applied the €40 million net proceeds from its recently completed capital raise to debt reduction and having issued 152,517,988 New Ordinary Shares to its Lenders. Core debt has reduced to approximately €118 million (with other facilities and credit lines of approximately €10 million(1)).

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