Trading statement TIMES MEDIA GROUP LIMITED Incorporated in the Republic of South Africa Registration number: 2008/009392/06 Share code: TMG ISIN code: ZAE000169272 (“Times Media Group” or “TMG” or “the Company”) ________________________________________________________________________ TRADING STATEMENT ________________________________________________________________________ In terms of the Listings Requirements of the JSE Limited, a listed company is required to issue a trading statement once it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. Accordingly, the Company advises that, in respect of the year ended 30 June 2014, it is expecting to announce earnings of 315 cents per share (2013: loss of 11 cents per share) and headline earnings of 165 cents per share (2013: 17 cents per share). The results for the year ended 30 June 2014 include profits and losses realised on the disposal of discontinued operations, and a gain arising from a reduced post-retirement medical aid liability. The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. TMG’s annual financial results are scheduled to be released on or about Tuesday, 23 September 2014. 17 September 2014 Johannesburg Sponsor PSG Capital Date: 17/09/2014 09:10:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.