Schibsted ASA (SCHA/SCHB) - Update on Svenska Dagbladet

With reference to the release date 12 May 2015 regarding letter of intent to form a new media group for subscription newspapers in Sweden including Svenska Dagbladet and MittMedia.

Since the announcement, Schibsted and MittMedia have held constructive talks, but the parties have concluded that the preconditions for a transaction are not in place at the current point in time. The letter of intent will hence expire this week.

Schibsted still believes that collaboration between the subscription newspapers would be beneficial, and will continue to be open minded for structural solutions in the market.

Oslo, 2 December 2015
SCHIBSTED ASA

Jo Christian Steigedal
Head of IR