Grupo Clarin Announces Its Fourth Quarter and Full Year Results for 2007

Grupo Clarin Announces Its Fourth Quarter and Full Year Results for 2007

BUENOS AIRES, Argentina, March 10 /PRNewswire-FirstCall/ -- Grupo Clarin S.A. ("Grupo Clarin" or the "Company" - LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its Fourth Quarter and full year results for 2007. Figures in this report have been prepared in accordance with Argentine GAAP as of December 31, 2007 and are stated in Argentine Pesos, unless otherwise indicated.

Highlights (2007 vs. 2006; 4Q07 vs. 4Q06):
-- Net Sales reached Ps.4,383.7 million, an increase of 55.9% from 2006
largely due to the acquisition of a controlling (60%) ownership
interest in Cablevision S.A. and Holding Teledigital S.A. in September
2006 (the "Cablevision Acquisition")
-- Adjusted EBITDA(1) increased by 90.3% from 2006 to Ps.1,350.8 million,
driven by the Cablevision Acquisition.
-- As a result, Grupo Clarin's Adjusted EBITDA Margin (3) was 30.8% for
2007, an increase of 22.1% from 25.2% in 2006.
-- Net Income totaled Ps.209.6 million. In 2006, we reported a net income
of Ps.869.7 million, which was driven primarily by the non-recurring
gain resulting from the completion of the prepackaged (APE)
restructuring of the financial debt of Multicanal S.A.
-- On December 7th, 2007, regulatory authorities approved the transactions
that resulted in the Cablevision Acquisition.

Comments from the Vice Chairman of Grupo Clarin:

Mr. Jose A. Aranda, Vice Chairman of Grupo Clarin, stated, "We are pleased to report our first annual results since becoming a publicly-traded company. In 2007 we showed strong growth in sales across our segments, increased our subscriber base and continued improving our profitability. Among other major milestones for the year was the approval of our acquisition of Cablevision, which has enabled us to consolidate our position as the leading multimedia player in Argentina, and strengthened our focus on broadband, digital cable TV and communications as part of our convergence strategy. We have confidence in our ability and scale to continue generating growth in our businesses and value for our shareholders".

FINANCIAL HIGHLIGHTS

(In millions of Ps.) 2007 2006 % Var. 4Q07 4Q06 % Var.
Net Sales 4,383.7 2,811.8 55.9 % 1,266.2 1,055.7 19.9 %
Adjusted EBITDA (1)(2) 1,350.8 709.7 90.3 % 398.7 296.9 33.3 %
Adjusted EBITDA Margin
% (3) 30.8 25.2 22.1 % 31.3 28.1 12.0 %
Net Income 209.6 869.7 -75.9 % 86.7 106.5 -18.6 %

(1) We define Adjusted EBITDA as net sales minus cost of sales (excluding depreciation and amortization) and selling and administrative expenses (excluding depreciation and amortization). We believe that Adjusted EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies on the basis of operating performance, leverage and liquidity. Nonetheless, Adjusted EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Because Adjusted EBITDA is not an Argentine GAAP measure, other companies may compute Adjusted EBITDA in a different manner. Therefore, Adjusted EBITDA as reported by other companies may not be comparable to Adjusted EBITDA as we report it.

(2) Includes approximately Ps.13 million of expenses incurred in connection with the integration of the companies involved in the Cablevision Acquisition which conduct our Cable TV and Internet access business

(3) We define Adjusted EBITDA Margin as Adjusted EBITDA over Net Sales.

CONFERENCE CALL AND WEBCAST INFORMATION

Grupo Clarin will host a conference call and webcast to discuss its fourth quarter and year-end results for 2007, on Monday, March 10, 2008.

Presentations by: Alejandro Urricelqui, Chief Financial Officer; Alfredo Marin, Investor Relations Officer.

Time: 3:30 pm Buenos Aires Time/ 5:30 pm London Time/ 1:30 pm New York Time

To access the conference call, please dial: form within Argentina +0 800 333 0050; from within the United Kingdom +44 (800) 092 3582; from within the United States +1 (800) 351 6807; and from all other countries +1 (334) 323 7224. The pass code is: 43445.

To access the simultaneous webcast presentation, please go to: http://www.grupoclarin.com/ir

A replay of the conference call will be available one hour after its conclusion, and will remain available for 48 hours. To access the replay, please dial: from the within the U.S. + 1-877-919-4059 or from anywhere outside the U.S. +1-334-323-7226. The pass code is: 91814872.

The webcast presentation will be archived at http://www.grupoclarin.com/ir.

ABOUT THE COMPANY

Grupo Clarin is the largest media company in Argentina and the market leader in the cable television and Internet access, printing and publishing, and broadcasting and programming segments. Its cable television network is the largest in Latin America, with the largest broadband subscriber base in Argentina. Its flagship newspaper -Diario Clarin- is the highest circulation newspaper in Latin America and the second-highest circulation Spanish-language newspaper in the world. Grupo Clarin is the largest producer of media content in Argentina, including news, sports and entertainment and reaches substantially all segments of the Argentine population in terms of wealth, geography and age.

Disclaimer

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Grupo Clarin. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. Grupo Clarin does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in Grupo Clarin's projections or forward- looking statements, including, among others, general economic conditions, Grupo Clarin's competitive environment, risks associated with operating in Argentina a, rapid technological and market change, and other factors specifically related to Grupo Clarin and its operations.

A LONGER VERSION OF THIS PRESS RELEASE WITH DETAILED INFORMATION AND COMPLETE FINANCIAL STATEMENTS CAN BE OBTAINED FROM http://www.grupoclarin.com/IR OR BY CONTACTING:

Investor Relations Contacts
In Buenos Aires:
Alfredo Marin / M. Julia Diaz Ardaya
Grupo Clarin
Email: investors@grupoclarin.com

In London:
Alex Money / Lorna Ellen
Temple Bar Advisory Ltd.
Tel: +44 20 7002 1080
E-mail: info@templebaradvisory.com

In New York:
Melanie Carpenter / Peter Majeski
I-advize Corporate Communications
Tel: +1 212 406 3692
Email: clarin@i-advize.com

Source: Grupo Clarin S.A.

CONTACT: In Buenos Aires: Alfredo Marin or M. Julia Diaz Ardaya, both of
Grupo Clarin, investors@grupoclarin.com; In London: Alex Money or Lorna Ellen,
both of Temple Bar Advisory Ltd., +44-20-7002-1080,
info@templebaradvisory.com; In New York: Melanie Carpenter or Peter Majeski,
both of I-advize Corporate Communications, +1-212-406-3692,
clarin@i-advize.com

Web site:

http://www.grupoclarin.com/

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