Primedia Limited
Incorporated in the Republic of South Africa
Registration number 1993/003355/06
Share code PMA & ISIN ZAE000035119
Share code PMN & ISIN ZAE000035127
("Primedia" or "the company" or "Primedia Group")

RADIO 702 SECURES LUCRATIVE FM FREQUENCIES

In a letter received form the Independent Communications Authority of South Africa (ICASA), Radio 702 has been granted the application for the amendment of its commercial licence to allow the station to migrate to FM frequencies 92.7 MHz in Johannesburg and 106.0 MHz in Pretoria. The station should be re-launched in the next six months.

702 will also be allowed a 12 month period of "double illumination". This means the station is allowed to continue broadcasting on both the AM and FM frequencies for a period of one year.

Primedia Broadcasting will now operate 2 FM licenses in the Gauteng region, the other station being South Africa"s leading commercial radio station, 94.7 Highveld Stereo.

William Kirsh, CEO of Primedia, said "This is fabulous news and probably the most defining moment in 702"s history since inception and one of the big highlights in our broadcasting history. I have no doubt that its vastly improved signal will better serve our listeners and its overall viability."

Kuben Pillay, CEO of Primedia"s advertising businesses stated "This development will now enhance Primedia Broadcasting"s stature as South Africa"s leading commercial radio broadcaster. With 702 going onto FM, Primedia"s four radio stations across the Johannesburg and Cape Town markets will better serve advertisers."

Primedia Broadcasting Executive Chairman Dan Moyane said "This is a landmark decision by ICASA, which we are very grateful for. It has been a long road for us, but the hard work has paid off. We look forward to broadcasting Radio 702"s compelling content to all our loyal listeners, who have persevered with a very poor signal for so long".

Sponsor: Investec Bank Limited
Kuben Pillay 083-225-6611
Date: 24/03/2006 01:40:02 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department