ASX Announcement 11 February 2010

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STEVE PRICE TO SPEARHEAD NEW MELBOURNE TALK RADIO STATION Thursday, 11 February 2010 ; Following the announcement in December 2009 of the formation of a joint venture between Macquarie Radio Network (MRN) and Pacific Star Network (PNW) for the production and supply of radio programming in the Melbourne market, the joint venture partners today confirmed that a new Melbourne talk radio station will be launched during the second quarter of 2010. The new station will take over the signal currently broadcasting as 3MP and will carry a new name and call signal. The joint venture partners also confirmed that Steve Price has been signed by MRN to work in the new station. He will fill one of the prime on-air shifts and will also oversee programming of the new station. Price’s contract will commence March 1 st when his current contractual obligations end. MRN Chairman, Russell Tate, who will also Chair the joint venture company, said that he was delighted to be part of the introduction of a second commercial talk station to the Melbourne market. “MRN has been interested in doing this for some years. We’ve always believed that there is a place in the Melbourne market for two commercial talk stations, and that there is a real opportunity to present to Melbourne a broader choice of listening alternatives.” “One of the key factors in the timing of our decision to launch was the availability and subsequent signing of Steve Price. Steve was keen to return home to Melbourne and the audience which made him synonymous with talk radio. We are very fortunate to have Steve with his intimate knowledge of the Melbourne market and the Pacific Star team, led by their CEO Barrie Quick, as partners in this exciting venture. The infrastructure Pacific Star can provide and Barrie’s leadership and management will be crucial to the success of the venture.” Barrie Quick commented that discussions were in progress with a number of high profile Melbourne personalities and opinion leaders to join the on-air team. “We have a wonderful opportunity to shape and program a new station from scratch and in doing so provide an attractive news talk alternative to Melbourne listeners”, he said. “We intend to take the time to get the locally based programming line-up right and it will not be finalised until we’ve had Steve’s input to our planning after he joins us.” For personal use only For further information please contact: Antonia O’Neill 0417 252 805 [email protected] Julia Everingham 0416 033 696 [email protected] .

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