September 2011

Network18 : Overview 2 2

Network18 – India’s Fastest Growing Media Company A US$ 600MM Media Company - 73% Revenue CAGR Over The Last 6 Years Leadership In The Broadcasting Business Riding The Digital Wave… 2011+ Building The Entertainment & Digital Businesses Entry Into New Spaces – Films, Home Shopping 2005-2010 Launched Our News Business 1999-2005

Network18 – Market Leading Businesses News Entertainment 42% Of Group Revenue, USD 256MM Business Built In Three years #1 Across Genres : General Entertainment, Youth Entertainment, Kids And International Music Firmly Entrenched In The Film Production And Distribution Business At USD 127MM is 21% Of Group Revenues, Our Oldest Business Undisputed Market Leader In Both English And Hindi Business News – Credited With Creating The Business News Category In India #1 In English News Formidable Presence In Hindi News Digital Content and eCommerce Allied Businesses Contributes 15% Of Our Revenues Currently – USD 91MM B2B Local Search Business Premier Special Interest Publications Network Services Contributes 22% Of Our Revenues Currently – USD 133MM India’s Oldest And No. 1 Financial Portal No. 1 Indian Portal India’s First 24 Hour Home Shopping Network And Undisputed Market Leader In Multi –Channel eCommerce India’s Largest Transaction Engine For Booking Tickets Online – Movies, Plays. Sporting Events * Revenues above reflect Managed Revenues: Total revenues managed by the group without adjustment for ownership

Network18 – Leadership Across Traditional And New Media TV Broadcasting Indian Digital Media Monthly Unique Visitors in MM Network 18 Star Network18 Sony Zee Times Group Rediff NDTV Times UTV Others Zee ,HT, NDTV, Others Source: Nielsen TAM Data –2011 Market Share in HSM - Genres Where We Operate Source: Comscore World Report –2011

Network 18: Rapid Growth In Managed Revenues USD Million CAGR – 73% * Managed Revenues: Total revenues managed by the group without adjustment for ownership 6 6

Network 18: Successful Partnerships With Global Giants Leading Global Entertainment Content Company Recognized World Leader In Business News 50:50 JV - Entertainment Business News World's Leaders In News And Information Delivery World’s Leading Business Magazine English News Magazine Publication Leaders In Factual Entertainment World’s Leading Home Shopping Network Factual Entertainment Home Shopping 7 7

Network18 : Optimized Structure Promoters 58.01% Network18 (Listed) Digital Content E18, Sport18, Capital18, Setpro18 Newswire18 BookmyShow 70% TV18 (Listed) 59.07% Viacom18 IBN Lokmat 50% 60% Sun18 Media Services North 100% Web18 eCommerce Homeshop18 51% AETN18 51% Allied Businesses Infomedia18 48% 8 8 8

TV18: Leader In News And Entertainment Business News General News TV18 Entertainment Factual Entertainment 9

TV18 – India’s Largest News Network… Our Revenues Are The Largest… …And So Are Our Operating Profits All figures in INR Crores – FY11 Dominant Market Share in Business News CNN IBN is a Market Leader in General English News Source: TAM, Market Share, TG: CS AB Male 25+, Market: All India Time Period: 1st Apr’10– 31st Mar’11, All Days 0600-2400 hrs Source: TAM, Market Share, Market: All India – CS AB 15+

TV18: News Financial Summary Note: Segmental Nos. are on a pro forma basis. 11

TV18 – Profitable And Market Leading Entertainment Franchise… Viacom18 Has A Strong Portfolio Across Genres… …And is on a Profitable Growth Trajectory Hindi General Entertainment Youth Entertainment International Music and Lifestyle Kids Entertainment All Values in INR Crores Colors leads in Prime Time Market Share… …And Attracts the Largest Numbers of Eyeballs Source: TAM; Hindi Speaking Markets; TG: CS 4+; FY2011: Prime Time Share 2000-2359 hrs, All Days

TV18 – Colors : India’s General Entertainment Channel of Choice Holistic Programming Strategy Across Reality, Movies and Fiction Successful Reality Shows… World Premiere on Colors was the most successful ever Fiction Shows Continue to be Prime Time Slot Leaders

TV18: Financial Summary * Q1 Nos. are Reviewed – Segmental Nos. are on a proforma basis 14

TV18: Growth So Far Driven By Advertising Revenues … Our Advertising Revenues Reflect Market Share… …But, Subscription Revenues Lag Peers US$ MM Zee (29 channels) Network 18 (9 channels) Advertising Revenues as % of Total Revenues

New TV18: Now Structurally Aligned To Drive Subscription Revenues Earlier Current News Channels part of this bouquet Entertainment Channels part of this bouquet India’s Highest GRP Delivering Bouquet With 33 Channels : Network 18, Sun TV And Disney Vertical Integration Into Distribution Will Translate To Transparent Pricing And Higher Realization Channel Split Across Two Bouquets : Colors Free To Air At Launch Lack Of Control Led To Opaque Pricing And Low Realization

TV18 : Will Benefit From The Substantial Growth In Subscription Market Ahead Pay TV (DTH/Digital Cable) Is Growing Rapidly In India… …And Will Double Over The Next Five Years To $8B Share Of Broadcasters And Pay TV Will Grow Faster 67 DTH Subs in Millions 6 players with deep pockets 64 45 Projected Subs 5 times Actual Subs Our estimates Digitization Will Be A Key Driver Of TV18 Profitability In The Near To Medium Term

Digital Content and eCommerce Network18: An Integrated Media Company Digital Content and eCommerce Network18 Allied Businesses 59% News TV18 Entertainment 18 18 18

Digital Media: The Next Growth Driver In India India Is A Significant Digital Market Already… …And Will Be Reminiscent Of The Telecom S-Curve Affordable handsets and lifetime free prepaid 3G Services launched on large scale National Telecom Policy – 99 announced Policy for additional licenses and TDSAT Source :Morgan Stanley Presentation Source :Industry Estimates

Network18 :Building Strong Digital Assets For The Future Integrated Digital Proposition Content Commerce Local* Largest Indian Content Portals Largest Indian Professional Financial Information Solution Largest Indian Home Shopping Business Largest Indian Ticketing Portal Largest Print Directory Search Business being synergised with an online proposition * Reported as part of our Allied Businesses Segment

Network18 : Financial Summary Note: Segmental numbers are on a proforma basis.

Network18 : Key Financials At A Glance

Network18 Group: Net Debt Position Table All figs in INR crores Gross Debt Cash & Equivalents Net Debt Jun-11 Mar-11 Mar-10 Network18 2,091 1,773 2,111 828 773 1,251 1,263 1,001 860 TV18 846 551 472 175 220 257 671 330 215 23 23

Network18 and TV18 – Summarizing Value Amount in INR Crores TV18 Network 18 Financial Performance FY11** FY11 Revenues 1,110 1,484 EBITDA 135 48 Q1 FY12 266 363 25 (15) Market Data Market Cap * 1,470 1,355 Net Debt 671 1,263 EV 2,141 2,618 No. of Shares (in MM) 362.12 142.65 Share Price (INR) * 40.60 95.00 Note: *As on 5th September, 2011 ** FY11 for TV18 is on a pro forma basis

Summary – The Network 18 Opportunity India’s Fastest Growing Media Company With Leadership In Television And Digital Optimized Structure And Focused Business Model Focused On Value Creation For All Stake Holders After A Strong Investment Phase 25

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