Primedia Limited
Incorporated in the Republic of South Africa
Registration number 1993/003355/06
Share code PMA ISIN ZAE000035119
Share code PMN ISIN ZAE000035127
Share code PMAP ISIN ZAE000080529
(“Primedia” or “the company” or “the group”)

SECURITIES REGULATION PANEL

Scheme of arrangement in terms of Section 311 of the Companies Act No 61 of 1973 proposed by a consortium of investors led by the Mineworkers Investment Company (Proprietary) Limited, the Isaac Kirsh Family Trust No. 2, the William Kirsh Family Trust and, if applicable, their respective family entities (collectively "the Consortium") to acquire the entire issued ordinary and N ordinary share capital of Primedia Limited ("Primedia") Appeal against the Ruling of the Executive Committee of the SRP ("Exco") Re-hearing before the Panel of the SRP ("the Panel")

It was announced on 2 July 2007 that, pursuant to the hearing before the Exco to consider certain aspects of the then proposed offer by the Consortium to acquire the entire issued ordinary and N ordinary share capital of Primedia and the application of the Securities Regulation Code and Rules ("the Rules") thereto, the Exco had ruled, inter alia, "That the proposed offer by the Consortium complies with Rule 11.1 of the Rules in that the intended offer prices made for the ordinary and N ordinary shares of Primedia are comparable as contemplated in Rule 11.1." ("the ruling").

An appeal against the ruling of the Exco has been lodged in accordance with the Rules and the ruling.

In terms of the Rules the appeal will be in the form of a re-hearing before the Panel. As such, interested parties with locus standi will be given the opportunity to make additional or new written and/or oral submissions to the Panel.

The following timetable will apply in relation to the appeal:

2007

Pertinent documents and submissions to lie open for inspection at the SRP`s offices from 09:00 Thursday, 19 July

Written submissions to be delivered to the SRP by 16:00 Tuesday, 24 July

Written responses to submissions to be delivered to the SRP by 16:00 Friday, 27 July

Re-hearing before the Panel at 09:00 Wednesday, 1 August

Notification of decision of the Panel before 09:00 Monday, 6 August

The Panel which will hear this matter comprises Mr CA Jaffe Mr ND Lowenthal, Mr S Ramburuth, Adv B Spilg SC and Mr WS Yeowart.
Johannesburg
18 July 2007
Securities Regulation Panel
2 Sherborne Road, Parktown, 2193 P.O. Box 91833, Auckland Park, 2006
Tel: (011) 482 5630
Fax: (011) 482 5635
e-mail: srp@iafrica.com
Date: 18/07/2007 15:46:01 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department