Pacific Star Network Limited ABN 20 009 221 630 Tel: +61 3 8420 1150 Fax: +61 3 9421 5383 E-mail: [email protected] Internet: http://www.pacificstarnetwork.com.au 473 Swan Street, Richmond Victoria 3121

ASX Announcement

21 September 2011

The Manager Company Announcements Office Australian Stock Exchange Limited Level 4, 20 Bridge Street SYDNEY NSW 2000

Re: Acquisition of Inside Football Magazine

Pacific Star Network Limited, owners and operators of Melbourne based Sports Radio Station 1116 SEN and Melbourne Talk Radio 1377, advises that it has entered into a Heads of Agreement with International Publishing Group Pty Ltd for the acquisition of the Inside Football magazine. The Inside Football magazine has been an integral part of the AFL landscape for the past 35 years.

Pacific Star CEO, Barrie Quick said ” the synergy’s that exist between 1116 SEN and Inside Football through content delivery, cross promotional opportunities and revenue generation made Inside Football an attractive proposition”. We look forward to welcoming all existing Inside Football staff as we launch into a new season in 2012.

International Publishing Group Managing Director, Philip Greader said “the sale of Inside Football magazine will enable the group to focus its attention on the recent move into supplying publishing services to leading Australian and International publishers such as the distribution of newspapers / magazines to non-traditional outlets like airlines and hotels”.

The Heads of Agreement is subject to satisfaction of due diligence, completion of a long form agreement and board approval.

For further information contact: For personal use only use personal For Barrie Quick - Pacific Star 0419 915409 Phillip Greader - IPG 0412 031959

G:\JNA\Pacific Star Limited\Company Secretarial\2011-12\ASX\ASX Announcement _21 September 2011.doc