Independent News & Media (Finance) Limited (Issuer of the 5.75% €200 million guaranteed Bonds) are pleased to announce that they have entered into a financial standstill with their principal Banks and Bondholders. In addition, the Group has procured an additional €15 million working capital facility from its Banks for the standstill period, secured on certain agreed assets, and which sums are to be repaid from specified asset disposals. This will allow ongoing constructive discussions to continue between all key stakeholders in relation to the Group’s financial restructuring.