Acquiring shares in Polish newspaper

20.04.2004: On 20 April 2004 Orkla Press, a subsidiary in the Orkla Media group and responsible for the group's newspaper operations in Central- and East Europe (CEE), entered into an agreement under which it acquired 100 per cent of the shares of the publishing companies Echo Media (the publisher of the regional daily Echo Dnia) and Slowo Media (the publisher of the regional daily Slowo Ludu) in Kielce.

 Kielce city has a population of about 210.000 inhabitants and in the Swietokrzyskie region there are about 1,3 million inhabitants.
 
The transaction will be closed when all required permissions have been obtained.
 
The average daily circulation of Echo Dnia was 34,162 copies (January-December 2003), and the daily is the unquestioned No. 1 regional daily in the circulation and readership markets in the Swietokrzyskie region. The average daily circulation of Slowo Ludu was 12,506 copies (January-December 2003).
 
The businesses that are acquired had yearly operating revenues of PLN 35 millions and 200 man-years as of 31 December 2003.
 
Orkla Press has been present in the Polish newspaper market since 1990. The Orkla Press group will continue its efforts to strengthen the position of the regional press in Poland. Orkla Press intends to make further investments in Poland in the area of print media and in the sector of similar media.