News

Article Headlined: "On Overdrive - Rumours Resurface On Privatisation Of Astro"

We refer to the news article in The Star (Bizweek), page BW4 dated 17 May 2008 and in particular the following paragraphs:

"It is a rumour that doesn't seem to expire - the privatization of direct-to-home satellite TV provider, Astro All Asia Networks Plc".

"It was speculated …..that the share price could be moving due to a much bigger exercise such as the purchase of a stake in Hong Kong-listed, TVB."

In response to the news article, we are unaware of any proposal for the privatisation of AAAN. Neither are we aware of any proposal for the purchase of a stake in Television Broadcasts Limited or TVB. In the normal course of business and as part of continuing strategic initiatives, the Company constantly evaluates opportunities to leverage on its core competencies. However, we consider this report to be speculative and are unaware of any information that would provide a basis for the speculations.

This announcement is dated 20 May 2008.