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Grupo Clarin Announces its Fourth Quarter (4Q09) and Full Year (FY09) Results for 2009

Highlights (FY09 vs. FY08):

    --  Net Sales totaled Ps. 6,678.8 million, an increase of 16.4% from 2008,
        mainly due to ARPU and subscriber growth in the Cable TV and Internet
        access segment and, to a lesser extent, to higher advertising sales in
        Broadcasting and Programming and higher sales in the Printing and
        Publishing segments.
    --  Adjusted EBITDA (1) reached Ps. 1,985.7 million, an increase of 18.6%
        from 2008, mainly driven by higher sales in the Cable and Internet
        access segment.
    --  Grupo Clarin's Adjusted EBITDA Margin (2) for 2009 was 29.7%, compared
        to 29.2% in 2008.
    --  Net Income totaled Ps.  290.1  million, an increase of 10.4% from Ps.
        262.7 million reported in 2008.

    FINANCIAL HIGHLIGHTS

    (In millions 
      of Ps.)      2009     2008  % Ch.     4Q09     3Q09     4Q08  QoQ   YoY
                   ----     ----  -----     ----     ----     ----  ---   ---
    Net Sales   6,678.8  5,736.1   16.4% 1,783.4  1,668.3  1,625.3  6.9%  9.7%
    Adjusted 
     EBITDA (1) 1,985.7  1,674.6   18.6%   518.6    504.1    458.1  2.9% 13.2%
    Adjusted
     EBITDA
     Margin (2)    29.7%    29.2%   1.8%    29.1%    30.2%   28.2% (3.8%) 3.2%
    Net Income    290.1    262.7   10.4%    95.9    103.4   (14.16)(7.3%)   -

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

Grupo Clarin S.A. will host a conference call and webcast presentation on Thursday, March 11, 2010 at 10:00am Eastern Time (12:00pm Buenos Aires time) to discuss its results for the fourth quarter and full-year periods ended December 31, 2009.

Those interested in connecting via conference call are invited to please dial (0800) 092-3582 toll free from the U.K., 1 (800) 311-9401 toll free from the U.S., (0800) 333-0050 from Argentina, or 1 (334) 323-7224 from elsewhere 5-10 minutes prior to the start time. The Conference ID is #6118.

There will be an accompanying live webcast presentation with slides available at http://www.grupoclarin.com.ar/ir

There will be a 60-day replay available starting one hour after the conclusion of the conference call. To access the replay, please dial (877) 919-4059 toll free from the U.S., or 1 (334) 323-7226 from anywhere outside the U.S. The replay passcode is: 70351568. The webcast presentation will be archived at http://www.grupoclarin.com.ar/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 one of 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.

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/ Romina Vazquez

    Grupo Clarin S.A.
    Tel: +54 11 4309 7215
    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
    Pete Majeski

    I-advize Corporate
    Communications
    Tel: +1 212 406 3692
    E-mail: clarin@i-advize.com

SOURCE Grupo Clarin S.A.