September 19, 2007

Media Prima Signs Rm70 Million Term Refinancing Facility With Affin Islamic Bank

KUALA LUMPUR, 19 September 2007 – Media Prima Berhad (MPB), one of Malaysia’s leading integrated media investment group, today signed a 5 year, RM70 million term refinancing facility with Affin Islamic Bank Berhad (AFFINISLAMIC), thus further cementing its close relationship with Affin Bank Group (AFFINBANK).

Under the refinancing exercise, MPB will now assume the term loan previously undertaken by ntv7 during MPB’s acquisition of the company in 2005, under improved terms that will result in value creation for MPB.

The Islamic financing facility was formalised today at Menara AFFIN, witnessed by AFFINISLAMIC Chairman YBhg. Gen (R) Tan Sri Dato’ Seri Ismail Haji Omar. Signing on behalf of MPB was its Group Managing Director / Chief Executive Officer, Abdul Rahman Ahmad, while AFFINISLAMIC was represented by its Chief Executive Officer, Kamarul Ariffin Mohd Jamil..

'‘We are proud to be given the opportunity once again to work with Malaysia’s leading integrated media group on this refinancing exercise. Apart from improving MPB’s bottom line through cost savings, it will also provide MPB greater access to funding which will ensure that MPB Group has more resources to achieve its wider corporate objectives. The MPB Group has grown from strength to strength and we at AFFINISLAMIC will continue to support our business partner in their stellar growth trajectory,’ said Kamarul Ariffin Mohd Jamil, AFFINISLAMIC, CEO.

“This exercise completes Media Prima’s capital management initiative to generate lower cost of funds and savings over the medium term that will further improve our financial position and enhance shareholder value,” said Abdul Rahman Ahmad, Group Managing Director/Chief Executive Officer, MPB..

Recently, Media Prima successfully completed a RM350 million private debt issuance programme.

“In 2005, at a time when most lenders were apprehensive about lending, AFFINBANK had assisted in financing MPB’s acquisition of ntv7. One of the critical success factors for Media Prima is having strong partners like AFFINBANK, which have supported us and shared our vision in aggressively growing the media business. Today’s event confirms our mutual commitment to success by leveraging on the strength of both our companies,” added Rahman.

Both the companies also signed at the same ceremony a Memorandum of Understanding under which AFFINISLAMIC will offer MPB employees its 'AFFINISLAMIC Premier Corporate Package' which consists of AFFINISLAMIC Premier Corporate Home Financing-i and AFFIN-i Will/Wasiat will writing service.

- End -

< back>