Dublin/London – 28th September 2009: The Board of Independent News & Media PLC (“INM” or “the Company”) announces that it has reached an agreement in principle with the Ad Hoc Committee of Bondholders in relation to the proposed financial restructuring (“Restructuring”) of the Group’s balance sheet and the Board has formally agreed to proceed with the Restructuring on the terms outlined below. INM’s Banks have indicated that they are supportive of the Company pursuing this Restructuring.