Trader Classified Media: Senior Bank Credit Facility - Syndication Completed Successfully

Business Wire, Jan 8, 2003

Business Editors

AMSTERDAM, Netherlands--(BUSINESS WIRE)--Jan. 8, 2003

Trader Classified Media N.V., a leader in classified advertising, announces today the successful completion of its bank syndication arrangements.

New Senior Bank Financing

Trader Classified Media completed on 30th September 2002 a new senior bank credit facility that provides the Company with the flexibility to pursue strategic acquisitions in its key markets and which will reduce significantly its financing costs. The new financing is being led by the German bank West LB AG, which is acting as lead arranger, facility and security agent. ABN Amro and Credit Agricole Indosuez also acted as joint lead arrangers.

The new credit facility, totalling EUR380 million, includes several tranches maturing in 7 to 9 years and provided at closing:

-- An initial drawdown of EUR280 million to refinance the group's existing indebtedness and finance the acquisition of the minority interests in the group's Australian operations.

-- An un-drawn revolving acquisition facility of EUR75 million to provide the Company with the flexibility to pursue strategic acquisitions.

-- An un-drawn working capital revolver facility of EUR25 million.

When compared to the previous credit facility, the overall cost of financing is approximately 275 basis points lower and the company will benefit from significant tax savings over the coming years.

Following the underwriting, Trader Classified Media announces today the successful completion of the syndication arrangements.

Diversified Bank Syndicate

The following leading banks are participating in the Company's new facility.

-- West LB (Germany)

-- ABN Amro (The Netherlands)

-- Credit Agricole Indosuez (France)

-- Fleet Boston (USA)

-- Credit Lyonnais (France)

-- CCF - HSBC (France/UK)

-- CIC (France)

-- ANZ (Australia)

-- Lloyds TSB (UK)

-- Bank of Scotland (UK)

-- Bank of Ireland (Ireland)

-- KBC (Belgium)

Francois Jallot, Chief Financial Officer of Trader Classified Media, commented: 'This new financing will allow us the flexibility that we need to further develop our business, with lower interest rates and increased tax savings. We are very pleased with the high level of interest and participation in the syndication which reflects a strong confidence in our business.'

About Trader Classified Media

Trader Classified Media is a leader in classified advertising. The group was founded in Canada in 1987. Today, Trader Classified Media connects buyers and sellers through 300 publications (8 million readers per week) and 60 web sites in 20 countries with 260 million page views in June 2002. Trader Classified Media has over 5,100 employees worldwide, of who 2,100 are sales people. Trader Classified Media is listed on the Premier Marche (First Market of the Paris Stock Exchange - Euroclear code 5729 and Reuters code: TRD).

Forward looking statement

Certain statements in this press release may be considered to be "forward looking statements" as that term is defined in The United States' Private Securities Litigation Reform Act of 1995, such as statements that include the words or phrases "will allow," "will continue," " is anticipated," "expectations," or similar expressions. Such statements are subject to risks and uncertainties. The factors which could cause actual results to differ materially from those suggested by any such statements include, but are not limited to, those identified in our Form 20-F, which is on file with the United States Securities and Exchange Commission. Such factors include risks or uncertainties relating to our history of reported losses, the control of our company by a small group of shareholders, our highly competitive industry, our ability to make and integrate acquisitions, our ability to respond to political and economic conditions generally in the global economy or specifically in the countries in which we operate including Russia and South America, the currencies in which we do business, our dependence on our management team, our content, our brands and our branding strategy, our dependence on advertising including print and online advertising, our ability to expand our online business, the limited history of our online business, our ability to successfully execute our business strategy and our dependence on the growth of Internet usage, as well as general economic and market conditions.