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”)

WITHDRAWAL OF APPEAL BY PRUDENTIAL PORTFOLIO MANAGERS

TO THE RULING OF THE EXECUTIVE COMMITTEE OF THE SECURITIES REGULATION PANEL

Shareholders are referred to announcements by the Securities Regulation Panel ("SRP") dated 18 July 2007 and Primedia dated 17 July 2007.

In the latter announcement, Primedia advised that an appeal had been lodged by Prudential Portfolio Managers (Proprietary) Limited ("Prudential") against the ruling of the Executive Committee of SRP regarding the schemes 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"), acting through Red Pen 2 General Trading (Proprietary) Limited ("Newco"), to acquire the entire issued ordinary and N ordinary share capital of Primedia.

This ruling stated 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").

Prudential has now informed the SRP in writing of the withdrawal of its appeal against the ruling.

Prudential has advised that it still intends to appeal the award of costs associated therewith.

As announced on 18 July 2007, other interested parties with locus standi will still be afforded the opportunity to make additional or new written and/or oral submissions to the SRP in accordance with the timetable outlined in that announcement.

Sandton
23 July 2007

Transaction arranger and debt advisor to Newco
Capitau Advisory Limited

Merchant bank to Newco and transaction sponsor
Rand Merchant Bank, a division of FirstRand Bank Limited

Legal advisor to Newco
MJ King Inc.

M & A Tax, Corporate Law and Competition advisors to Newco
KPMG Services (Proprietary) Limited

Investment bank, independent expert and sponsor to Primedia
Investec Bank Limited

Legal advisor to Primedia
Edward Nathan Sonnenbergs Inc.

Reporting accountants and auditors of Primedia
Deloitte & Touche

Date: 23/07/2007 17:26:21 Supplied by www.sharenet.co.za Produced by the JSE SENS Department