Investor Relations
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13th Aug 2003

Australian subsiduary announces successful oversubscribed placement of ordinary shares

Independent News & Media PLC's ("INM") 40.7% owned Australian subsidiary, APN News & Media Limited, today announced that it has successfully completed the placement of 28 million new ordinary shares at a final price of A$3.68 per share, raising gross proceeds of approximately A$103 million (.59.8 million).

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