Acquiring shares in Polish newspaper

27.04.2004: Orkla Press, a subsidiary in the Orkla Media group and responsible for the group's newspaper operations in Central- and East Europe (CEE), has entered into an agreement under which it purchased the remaining 58,5 per cent of the shares of DOW Rondo sp. z o.o. in Koszalin (the publisher of the regional daily Glos Koszlinski/Glos Slupski).

Orkla Press now possesses 100 per cent of the shares in the company. Koszalin city has a population of about 110.000 inhabitants and in the Zachodnio-pomorskie region there are about 1,7 million inhabitants.
 
The transaction will be closed when all required permissions have been obtained.
 
DOW Rondo was established in 1992. Orkla Press acquired the first 38,5 per cent stake in the company in 2000, and another 3 per cent in 2002.
 
The average daily circulation of Glos Koszalinski/Glos Slupski was 25,920 copies (January-December 2003). The newspaper is the No. 1 regional daily in the circulation and readership markets in the east Zachodnio-pomorskie region (Koszalin area).
 
The business that is acquired had yearly operating revenues of PLN 16 millions and 103 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.