FY2010 FINANCIAL RESULTS

12 OCTOBER 2010

SINGAPORE PRESS HOLDINGS

Group FY2010 financial highlights

2

Net Profit attributable to shareholders

Investment Income

Operating Profit #

Operating Revenue

421,881

(6,186)

496,959

1,301,367

FY2009S$’000

FY2010S$’000

Change

1,381,071 6.1%

539,103 8.5%

39,255 NM

497,874 18.0%

# Recurring earnings of the media and property businesses, including profits from Sky@eleven development

NM: Not meaningful

Record operating revenue and recurring earnings

Robust ad revenue and profits from Sky@elevencontributed to record performance

3

Boosted by the rebound in advertisement sales, revenue grew strongly by S$81.7m (9.2%) y-o-y to S$974.1m

� Print advertisement revenue surged S$84.8m (13.1%) to S$733.1m

� Circulation revenue decreased by S$5.1m (2.4%)

� Rental income increased by S$11.3m (9.2%) mainly from Paragon

� Final profit of S$154.2m was recognised for Sky@eleven, which obtained its Temporary Occupation Permit in May 2010

Newspaper and Magazine

Property

Group FY2010 highlights

4

Operating Revenue Composition (S$1.4b)

16.1%6.0%

15.1%

53.1%9.7%

Advertisements - PrintCirculation Rental & ServicesProperty DevelopmentOthers

Print Advertisement Revenue

Composition (S$733.1m)

8.1%

58.7%

33.2%

Display

Classified *

Magazines & Others

* Classified includes Recruitment and Notices

Strong print ad growth driven by increases in Display and Recruitment advertisements

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* Classified includes Recruitment and Notices

Ne w spa pe r Ad Re ve n ue Y-O -Y G row th (%)

17.5%19.6%20.2%

31.3%

2.0%

8.7%

23.6%

-6.0%

6.4%

12.3%

16.7%

-1.0%

14.2%15.0%

28.3%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

1 QFY1 0 2 QFY1 0 3 Q FY1 0 4 QFY1 0 FY1 0

Dis play Clas s if ied* Tota l

FY10 circulation revenue decreased by 2.4%

due to lower circulation copies sold

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Daily Average Newspapers Circulation

0

50

100

150

200

250

300

350

400

THE

STRAITS

TIMES

THE

SUNDAY

TIMES

THE

BUSINESS

TIMES

THE NEW

PAPER /

THE NEW

PAPER

SUNDAY

LIANHE

ZAOBAO

LIANHE

WANBAO

SHIN MIN

DAILY

NEWS

BERITA

HARIAN /

BERITA

MINGGU

TAMIL

MURASU /

TAMIL

MURASU

SUNDAY

Th

ou

sa

nd

s

YTD FY2010 YTD FY2009

Boosting circulation through The Straits Times Success Series campaign

� A two-month campaign with the largest giveaway in The Straits Times 165-year history to reach out to current and new subscribers

� The campaign features four personalities representing ST’s varied readership illustrating the role the newspaper plays in their lives

7

Total costs increased 5.0% largely due to higher

staff costs

8

3.6%

Cost Composition (S$858.8m)

6.6%

10.5%

12.2%

15.2%

7.9%8.0%

39.6%

Staff Cost Newsprint

Property Development Cost Depreciation

Other Production Cost Other Overheads

Others

Higher variable bonus provision in line with

improved newspaper operations

Staff costs increased by S$53.6m (18.7%)

Staff Cost FY10 FY09 Change

Total Staff Cost (S$'000) 340,464 286,896 18.7%

Average Headcount 3,965 3,983 -0.5%

Headcount as at end Aug ‘10 4,041 3,941 2.5%

9

Newsprint costs was 29% lower than FY09

Newsprint prices are expected to rise due to imbalances

in supply and demand

10

Average Newsprint Charge-Out Price &

Monthly Consumption

531 529

557

521

10,408

10,643

9,298

9,829

400

450

500

550

600

1QFY10 2QFY10 3QFY10 4QFY10

8,000

9,000

10,000

11,000

12,000

LHS - Prices (US$)

RHS - Ave Mthly Consumption (MT)

Margin for core businesses remains above 30%

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# Profit before Investment Income

* Restated for retrospective accounting adjustments (FRS 40)

Recurring Earnings# and Operating Margin

0

100

200

300

400

500

600

FY06* FY07* FY08 FY09 FY10

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

Prof it before investment income (S$'m) Operating Margin including Sky@eleven Operating Margin

Updates on Property segment

12

� Continues to maintain its high occupancy level, providing a steady recurrent income stream for the Group

� Paragon was revalued at S$2.28b as of Jul 2010

� Fitting out works are in progress and

due to be completed in two phases

between January and March 2011

� The Clementi Mall has 190k sq ft of

retail space with Fairprice Finest,

Foodfare and National Library Board

as mini anchors

New indoor playground for kids in Paragon

The Clementi Mall

Paragon

Turnaround in group investment income

� Net investment income of S$39.3m was a turnaround from a loss of S$6.2m for FY 2009

� The Group’s investment portfolio allocation remains conservative and returns are expected to commensurate with a lower risk-return profile

� Fixed income investments are mainly investment grade bonds with short durations of less than 2 years

� Equity holdings consist mainly of M1 and Starhub

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(As at Aug 31, 2010)

Group Investible Fund (S$1.5b)

20.0%

19.2%

38.2%

22.6%

Equities

Bonds

Investment Funds

Cash and deposits

Rejuvenation of products to cater to changing

needs

� Tamil Murasu

� Unveiled a new look in Sep 2010

� The 75 year-old publication is one of the oldest Tamil newspapers in the world and has established itself as a voice for the Tamil-speaking community in Singapore

� ShareInvestor

� Revamped its financial portal in Jul 2010 to offer a single comprehensive interface with enhanced features

14

Publishing award winning newspapers

� The Straits Times student newspaper IN

� Won the WAN-IFRA* World Young Reader Prize 2010 in its Newspapers In Education (NIE) category

� Revamped earlier this year to include worksheets and classroom activities pegged to the day’s news

� The New Paper

� PANPA^ award for its series of double-page spreads that served as a comprehensive guide to the night scene on Singapore's famous shopping street Orchard Road and the areas of Bras Basah and Bugis

15

* World Association of Newspapers and News Publishers

^ Pacific Area Newspaper Publishers' Association

Declared dividend per share of 27 cents

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FY06FY06FY06FY06 FY07FY07FY07FY07 FY08FY08FY08FY08 FY09FY09FY09FY09 FY10FY10FY10FY10

Net Dividend per Share (cents)

7 cents interim, 20 cents final

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