Naspers Limited Today Announced Its Provisional Results for the Financial Year Ended 31 March 2008

Business Wire, June 25, 2008

International Internet Investments Drive Solid Growth

CAPE TOWN, South Africa -- Naspers (JSE: NPN) today reported a 19% increase in revenue to R20,5 billion, largely driven by growth in its international internet businesses. The pay-TV sector reported a solid performance for the year ended 31 March 2008.

Core headline earnings grew by 38% to R3,9 billion with core HEPS up 16% to R11,16. The board declared a 15% dividend increase to 180 cents per share.

"Over the past year the group experienced lively growth, particularly in the internet sector," Naspers chairman Ton Vosloo said. "Core operations put in a solid performance and there was good progress with the development of several business opportunities."

The year was characterised by acquisitions totalling R17 billion in the internet sector. These include 100% of Tradus, a leading e-commerce company in Poland, Switzerland and several Eastern European countries. A further acquisition was 97% of Poland's leading instant-messaging platform, Gadu-Gadu.

Naspers also acquired the remaining 40% of M-Net/SuperSport and 100% of Cloakware, which specialises in software protection products.

The group sold private education business Educor and entered into a conditional sale agreement for its Greek and Cypriot pay-TV business, NetMed. After the financial year-end Naspers announced the potential disposal of M-WEB, its market-leading African ISP and the only business of its kind in the group's portfolio.

Naspers continued its investment in the development of new technologies and business opportunities with a 29% increase in development costs to R1,1 billion.

Over the period the total pay-TV subscriber base grew by 13% (246 000 additional equated homes) to 2,5 million subscribers under management.

Due to tighter consumer spending in South Africa the print media segment had a tough year with a marked slowdown in advertising support. Circulation growth for some newspaper titles such as Daily Sun, Son and Soccer Laduma remained positive however. Commercial printing business Paarl Media had a solid year with the new plant in Gauteng exceeding expectations.

The contribution by the group's associate businesses, including Tencent in China, Abril in Brazil and Mail.ru in Russia, increased by a healthy 75% to R772 million.

"Looking ahead, we plan to grow on three levels," Naspers CEO Koos Bekker said. "We will broaden our existing businesses from within, develop new opportunities and seek new investments. Geographically we will continue to focus on emerging markets. Poland, India, China, Russia and Brazil are still growing steadily."

Naspers financial director Steve Pacak said that the level of competition was expected to intensify in the pay-TV segment. Substantial licence fees would have to be paid as soon as MultiChoice was licensed in South Africa.

"We expect the slowdown in consumer spending in South Africa to continue," he said. "This will have a dampening effect on the print sector's advertising and circulation revenues. Conversely pay TV has in the past proved resilient to the vagaries of the economic cycle. We don't expect a slowdown in any of our internet businesses."

The complete results are available on the Naspers website at http://www.naspers.com.

IMPORTANT INFORMATION

This press release contains forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "intend", "seek", "will", "plan", "could", "may", "endeavour" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. While these forward-looking statements represent our judgements and future expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These include numerous factors that could adversely affect our businesses and financial performance. We are not under any obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.