March 2001 Year 2000 RESULTS LEADING MULTIMEDIA GROUP IN SPANISH LANGUAGE NEWS, EDUCATION, CULTURE AND ENTERTAINMENT WORLDWIDE GRUPO PRISA

SUMMARY Main Figures: Year 2000 Results Evolution per Business Unit Group Strategy

Evolution per Business Unit Group Strategy Main Figures: Year 2000 Results

Revenues EBITDA EBIT EBIT/Sales Net Profit (before Extraordinary Items) (€ mn) Main Figures % chg NET PROFIT GROWTH = -6.4% ADJUSTMENT OF 1999 EXTRAORDINARY ITEMS % % 93 1, % +7.4% -7.0% +37.7% +15.5%

Newspapers and magazines Books and rights Advertising Other revenues Consolidation adjustments Total sales (€ mn) (118) 959 Revenues % chg (143) 1, % +15.8% +16.4% +28.0% +15.5% --

SALES = €959 mn 2000 SALES = €1,108 mn 1999 El País Publishing Specialised Press PrintingRadio Others Revenues by media

Revenues by geography SALES = €959 mn 2000 SALES = €1,108 mn 1999 Spain Abroad Spain

Revenues by source SALES = €959 mn BOOKS AND RIGHTS NEWSPAPERS AND MAGAZINES ADVERTISING OTHER REVENUES 2000 SALES = €1,108 mn BOOKS AND RIGHTS NEWSPAPERS AND MAGAZINES ADVERTISING OTHER REVENUES 1999

The Advertising Market: Better Relative Prospects for Spain THE SLOWDOWN OF ADVERTISING GROWTH IS EXPECTED TO BE LOWER IN SPAIN THAN IN EUROPE AND THE UNITED STATES GROWTH OF ADVERTISING (1) 1 Source: Zenith Media Europe Spain Grupo Prisa

Year 2000 Investments 2000 Affiliates and Subsidiaries Santillana El Pais 26 Specialised and local press 15 Local radio and TV 24 Music 2 Internet 5 Media advertising sales 6 Printing24 Total Capex 344 (€ mn)

International Presence FRANCE SPAIN UNITED KINGDOM PORTUGAL GDP growth forecasts of 4% in year 2001 and 4.6% in year 2002 LATIN AMERICA USA DOMINICAN REPUBLIC PUERTO RICO COSTA RICA VENEZUELA BRAZIL MEXICO GUATEMALA EL SALVADOR PANAMA COLOMBIA ARGENTINA CHILE URUGUAY ECUADOR PERU BOLIVIA PARAGUAY 1 Source: Zenith Media. 2000

Group Strategy Evolution per Business Unit Main Figures: Results in the Year 2000

Continous Growth (€ mn) EBIT CAGR:+21.5 % (€ mn) SALES CAGR:+15.7 %

(€ mn) EBITDA CAGR:+15.8 % NET PROFIT (BEFORE EXTRAORDINARY ITEMS) CAGR:+22.0 % Continous Growth

EBIT/Sales Margin Excluding New Business Lines: Internet, Music and Local Press Operating Margin

EBIT/Sales Margin Including New Business Lines Operating Margin

Financial Structure :1 GEARING 37.4% YEAR (€ mn) -49 NET DEBT SHAREHOLDERS’ EQUITY BORROWING CAPACITY

EL PAIS: Leader in Circulation and in Advertising Revenues in Advertising Revenues Leadership in terms of circulation Growth of sales by 16.9% -Growth of advertising revenues by 20.1% % (€ mn) % Revenues EBITDA EBIT EBIT/Sales % chg % +21.3% +4.5% %

New business in local press Revenues: Advertising revenues: +53.8% Revenues from sales of newspapers: +12.6% SPECIALISED PRESS: Growing Market Share Cinco Días; Circulation: 28,361 copies (+0,3%) Diario AS; Circulation: 158,730 copies (+11%) % % (€ mn) % -- Revenues EBITDA EBIT EBIT/Sales % chg %

RADIO AND LOCAL TV: leading position in Spain and strong growth in Latin America Sales increase: +12.8% New local TV business % (€ mn) % Revenues EBITDA EBIT EBIT/Sales % chg % +9.7% -0.10% %

PUBLISHING: large growth potential in Latin America Leadership in the educational sector in Spain and in Latin America Spain and Portugal 45% Latin America and USA 55% Education Business Development Growth of sales by 14.7% % (€ mn) % Revenues EBITDA EBIT EBIT/Sales % chg % +32.0% +15.2% %

SOGECABLE: Towards Profitability Canal Satélite Digital subscriptions: 1,051, % (€ mn) % Revenues EBITDA EBIT EBIT/Sales % chg % % Canal Plus subscriptions: 1,758,148

Operating result: - €11.7 mn PRISACOM: The Internet Business Revenues amounting to € 5.5 mn 200,198 Inicia customers as of 31 December 2000

Joint Venture with Universal Music Group: Muxxic Latina First Operating year GRAN VÍA MUSICAL % (€ mn) Revenues EBITDA EBIT EBIT/Sales

GDM: Advertising Sales Managed Volume: €278 mn % % (€ mn) 7 8.6% 19.4% 10.0% Revenues EBITDA EBIT EBIT/Sales % chg %

To third parties 66% To Grupo Prisa 34% % % (€ mn) % +25.0% +31.0% Revenues EBITDA EBIT EBIT/Sales % chg % Export 33% Domestic 67% 2000 PRISAPRINT: Printing

Main Figures: Results in the Year 2000 Evolution per Business Unit Group Strategy

CONSOLIDATECREATEGROW  Leadership in press, radio, education, and pay-TV  Growth of advertising STRATEGY: Consolidate, Grow and Create...  Education, Radio, Music and Internet  Markets: -Latin America (Mexico and Brazil) -U.S.  Development of new contents for new business lines: -Audiovisual Production (Spain and Latin America) -Economic and Financial Information Services - Internet: Vertical Portals. Mobile Services. E-learning

STRONG FINANCIAL STRUCTURE STRONG FINANCIAL STRUCTURE INTERNATIONAL PRESENCE INTERNATIONAL PRESENCE HUMAN TEAM: HUMAN TEAM: -CREATIVITY -CREATIVITY -MANAGEMENT SKILLS -MANAGEMENT SKILLS LARGE GROWTH POTENTIAL LARGE GROWTH POTENTIAL...supported by our strengths

March 2001 Year 2000 RESULTS LEADING MULTIMEDIA GROUP IN SPANISH LANGUAGE NEWS, EDUCATION, CULTURE AND ENTERTAINMENT WORLDWIDE GRUPO PRISA