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Q1 2007 VOCENTO Earnings Release Conference Call - Final.

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Original Source: FD (FAIR DISCLOSURE) WIRE

OPERATOR: Welcome to the Vocento first quarter 2007 results presentation. The conference call starts now. Please go ahead.

BEATRIZ PUENTE, IR DIRECTOR, VOCENTO: Good morning, all. Thank you to everyone for attending Vocento's first quarter results conference call.

First of all, I would like to present Vocento's management team that will be presenting Vocento's results. Jose Maria Bergareche, Vocento's CEO, that will cover the key highlights of Vocento's results and Jose Manuel Vargas, Vocento's CFO, who will go the performance of each of the business areas, and myself, Beatriz Puente, IR Director.

The presentation is scheduled to last more or less 20 minutes and it will be followed up by the Q&A session. Let me pass the word to Jose Maria Bergareche to start the presentation.

JOSE MARIA BERGARECHE, CEO, VOCENTO: Good morning. Thanks for attending Vocento's first quarter call, first quarter results call. First of all, I would like to explain to you that as we have already announced, a new CEO will join Vocento by the beginning of July, July the 2nd.

I believe strongly that after 32 years working for this group and achieving the goal of transforming Vocento from a traditional family newspaper business to a (inaudible) leader multimedia group, I am very convinced that now it was the time to start a new phase and for that I have always believed that the appointment of a new CEO was one of the first steps. Nevertheless, being one of the main shareholders of Vocento, I will continue working for the company as First Vice Chairman.

Well, after this introduction, I'm very glad to present the very positive Vocento first quarter results. The EBITDA has increased by 35.4%. The EBITDA is being EUR 26.9 million -- I will always talk in euros, of course. While this increase of 35.4% in the EBITDA has been because of the high growth in regional press, a good improvement in the contribution of the audio-visual business and increasing contribution from Internet and the incorporation of new businesses.

Revenues have increased by almost 10%. The revenues have been EUR 220.3 million, which has meant an increase of 9.8%.

The advertising growth has been 19.2 and the incorporation of new-- of acquisitions have been the reason for that. The advertising revenues, as I mentioned, have increased by 19.2% and the growth has been in all areas, notably in regional press by 28%, in radio by 72.4%, local TV by 25.2% and Internet by 103.6%.

Well, now I will go in-- into the different divisions of the group. In print media we have had an excellent performance of regional press. The revenues have increased by 18.1%, which means plus 10.6%, like for like. EBITDA in...

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