Alma Media - Company Announcement

Alma Media appeals against the Regional State Administrative Agency's decision to adjudge a special audit

Alma Media Corporation Stock Exchange Release September 21, 2011 at 9:15 (EEST)

ALMA MEDIA APPEALS AGAINST THE REGIONAL STATE ADMINISTRATIVE AGENCY'S DECISION
TO ADJUDGE A SPECIAL AUDIT

The Regional State Administrative Agency for Southern Finland approved partially
in August an application for a special audit on Alma Media, submitted by the
company's shareholder Oy Herttaässä Ab. To the extent that the application
concerned the actions of the Nomination and Compensation Committee and its
predecessor, the Election Committee, and how the principle of equality has been
taken into account in the operations of the Committees, the Regional State
Administrative Agency approved the application.

However, to the extent that the application by Herttaässä concerned a request on
a special audit on the selection criteria for the appointment of the members of
the Nomination and Compensation Committee, on the grounds for the determination
of the fees paid to the members of the Nomination and Compensation Committee as
well as on who have been the members of the Board of Directors and the
Nomination and Compensation Committee of the company, The Regional State
Administrative Agency rejected the application.

Alma Media has examined the decision and its reasoning carefully and decided to
appeal against the decision to the administrative court of Hämeenlinna. In
addition to Alma Media's request to overturn the Regional State Administrative
Agency's decision, the company also applies for suspension of the enforcement
until the handling of the case is finished.

Oy Herttaässä Ab proposed to the Annual General Meeting (AGM) of Alma Media
Corporation held on March 11, 2010 that a special audit should be conducted
regarding the operations of the Nomination and Compensation Committee of the
Board of Directors of Alma Media Corporation during the latest five years. The
AGM considered the proposal and as the shareholding of Oy Herttaässä Ab exceeded
10% at the time of the AGM, the proposal was included in the meeting minutes and
was disclosed on the same day in a stock exchange release concerning the
decisions taken by the AGM.



Alma Media Corporation
Rauno Heinonen
VP, Corporate Communications and IR


For further information, please contact:
Mikko Korttila, General Counsel, tel +358 10 665 2201

Distribution: NASDAQ OMX Helsinki, main media

Alma Media in brief

Alma Media is a dynamic media company whose best-known products are Aamulehti,
Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs approximately 2,800
professionals. The company's net sales in 2010 totalled MEUR 311.4 with an
operating margin of 13.9 per cent. Alma Media's share (ALN1V) is listed in the
NASDAQ OMX Helsinki Exchange. Read more at www.almamedia.fi


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