Chairman's Statement

Trinity Mirror PLC 4 May 2000 Trinity Mirror plc AGM Statement At today's Annual General Meeting, Sir Victor Blank, Chairman of Trinity Mirror plc, provided a summary of current trading and group operations. The following statement is today released to the London Stock Exchange. 'These are exciting times for Trinity Mirror. As we look back over the year that saw your company become the largest newspaper publishing group in the UK, it is clear that its creation has produced a host of opportunities. As we stated on 17th March, we have had a good start to the year and the Group's operations have performed strongly during the first four months of 2000. Advertising During the first four months, advertising revenues for The Mirror and Sunday Mirror have grown by 5% year on year, with both titles producing the largest volume growth in their respective popular markets. This excellent performance further confirms the progress being made in the development of the Group's national daily title and the repositioning of the Sunday Mirror alongside that of its sister daily. The Racing Post has achieved double digit growth in its advertising revenues. This has been driven primarily by the growth in Internet betting. The regional newspapers' advertising revenues increased by 8%, with all regions recording growth. Classified advertising revenues have grown by 10%, led by a continued strong recruitment advertising performance which was 21% ahead of last year. Circulation Per the latest ABC figures, the Mirror and Sunday Mirror have both continued to gain market share, outperforming their direct competitors during the six months to March 2000. Despite a 10p increase in cover price over the same period in 1999, the Sunday People's trend of circulation performance has improved. Circulation revenues of the regional newspapers have been robust during the first 4 months of the year. New Media One of the most exciting value creating projects underway at the Group is our new media strategy. Our objective is to build ic24 into one of the UK's leading portal brands and to be the first fully integrated national and local portal. The goals for the next twelve months are to have 1m access customers, over 100m page impressions a month and to achieve annual revenue of £7m in 2000. We are pleased to report that we are on plan to achieve all of these goals. A major new marketing campaign commenced at the beginning of April aimed at recruiting access customers. The campaign is a mix of direct marketing, posters and TV media, and has so far attracted over 95,000 new net registrations, increasing our number of active customers by 44% from 215,000 at the beginning of March to just over 310,000 by the end of April 2000. The development of both our central and regional ic network of sites is key to achieving all our goals. Further development of content is on plan, with the first phase of the central portal, ic entertainment, due for launch at the end of May, and the next two phases in June and July. The first ic regional site, icscotland, was launched in a beta phase of development in April. The rest of the regional sites are scheduled for roll out between June and September 2000. Monthly page impressions for all our sites aggregate to in excess of 48m in April, having increased from 38m in December. We strongly believe that our leading market position sets us in good stead to capitalise on the opportunities before us.' Enquiries: Philip Graf/Margaret Ewing Trinity Mirror 020 7293 3000 Rupert Younger Finsbury 020 7251 3801

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