Investor Relations
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22nd Jun 2009

Update on Ongoing Refinancing Discussions

Independent News & Media PLC (“INM” and/ or the “Company”), based on media queries received and in line with its disclosure obligations, confirms that discussions with its syndicate of banks (“Banks”), with the ad-hoc committee of holders of the €200 million 5.75% guaranteed bonds due 2009 ("Bonds"), and certain of INM's principal shareholders are continuing.

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"During the year I have to risk my life under shellfire with bullets and I wouldn’t do that if I didn’t know that what I wrote was going to go in the paper as I write it and to know that my editor will stand up for me against all the ambassadors, against all the institutions, against all the lobby groups, I’ll risk my life for that. I have worked on other papers, I’ve felt editorial pressures and I left them all. The Independent I wouldn’t leave."

Robert Fisk, Commentator, The Independent and The Independent on Sunday