RE: Issue of Warrants

RE: Issue of Warrants

Media Corporation PLC

10 December 2008

Media Corporation plc

('Media Corp' or “the Company')

(AIM:MDC)

RE: Issue of Warrants

Further to the announcements on 29^th October 2008 regarding issue of warrants by the Company, the Board wishes to make the following points of clarification regarding the issue:-

Number of warrants

The total number of warrants issued is 27,250,000, allocated as set out below. This total number is 5,000,000 less than the total number of warrants announced on 29^th October 2008 and is under 10% of the reduced issued share capital of the Company following the recent completion of the share buy back.

Status of warrants

The warrants give a right to subscribe for new shares for a period of three years from issue, subject to the recipient remaining employed by the Company at the time of exercise and any individual performance criteria having been satisfied. Performance criteria will lapse in the event of a takeover or other “Exit Event” occurring.

The warrants replace all 16,500,000 previous grants of warrants or options under the 2001 Employee Share Option Plan (2001 ESOP) to the current recipients and constitute new grants rather than an adjustment to existing grants. The warrants are not granted pursuant to the 2001 ESOP, but do comprise a grant pursuant to an “employees’ share scheme” for the purposes of the Companies Act 1985.

Warrants granted

Name	Â	Position	Â	Number of Warrants granted	Â	Cancelled - previous grant of warrants
Directors
Jason Drummond		Director – Media Corporation plc		5,250,000		3,000,000
Justin Drummond		Director – Media Corporation plc		13,000,000		10,000,000
Mike Hawkes		Director – Media Corporation plc		750,000		500,000
Nilesh Jagatia		Director – Media Corporation plc		2,250,000		500,000
						Â
						Â
Senior Management
Name		Position		Number of Warrants granted
						Â
Christian Sellars		Head of Sales – Eyeconomy Limited		250,000
Dominic Joseph		Senior sales executive – Eyeconomy Limited		250,000
James McBriar		Managing Director – Search Focus Limited		500,000
Mark Butt		Joint Managing Director – Eyeconomy Limited		1,000,000		500,000
Paul Smith		Joint Managing Director – Eyeconomy Limited		2,500,000		1,500,000
Sara Vincent		Managing Director – Publishing - Xworks Limited		1,250,000		500,000
Simon Jasinski		Senior Sales Executive – Eyeconomy Limited		250,000

For further information please contact:

Media Corporation plc

Tel: + 44 020 7618 9000

Justin Drummond, Chief Executive

Nilesh Jagatia, Group Finance Director

www.mediacorpplc.com

Daniel Stewart & Company plc

Tel: + 44 0 20 7776 6550

Simon Leathers / Charlotte Stranner

www.danielstewart.co.uk

Bishopsgate Communications

Tel: + 44 0 20 7562 3350

Jenni Herbert/Gemma O’Hara

[e-mail]

Notes to editors

Listed on the AIM market of the London Stock Exchange, Media Corp is a leading internet media and advertising group focused on website publishing and online advertising.

The Group has two principal divisions:

Advertising Network - Formed in 1996, Eyeconomy specialises in mass reach campaigns to over 32 Million unique consumers per month via its own proprietary ad-serving and tracking technology for clients including AOL, Dell and American Express.

www.eyeconomy.co.uk

Website Publishing - Media Corp has a diverse publishing division specializing in online media. Our impressive portfolio of websites includes a number of market leading sites including:

www.gambling.com

www.onthebox.com

www.sport.co.uk

www.creditcardexpert.co.uk

www.flightcomparison.co.uk