Alma Media - Corporate Action

Alma Media clarifies its corporate structure

ALMA MEDIA CORPORATION      STOCK EXCHANGE RELEASE   20 June 2007, AT
9.30 A.M.



ALMA MEDIA CLARIFIES ITS CORPORATE STRUCTURE

The Boards of Directors of Alma Media Corporation and its subsidiary
companies Suomalainen Lehtipaino Oy, Alpress Oy and Marcenter Oy have
on May 28, 2007 signed a merger plan according to which Suomalainen
Lehtipaino, Alpress and Marcenter will merge with their parent
company Alma Media Corporation. The merger plan has been entered in
the Trade Register on June 19, 2007. The objective of the merger is
to clarify the Corporation's structure while reducing administrative
costs.

According to the merger plan, all of the assets and liabilities of
Suomalainen Lehtipaino, Alpress and Marcenter will be transferred to
the parent company, Alma Media Corporation, at their book value and
without liquidation proceedings. No merger consideration will be
given as the parent company owns all the shares of the companies to
be merged. The merger will not require any amendments to Alma Media
Corporation's Articles of Association. The planned date for
registering the merger is December 31, 2007.

The merger will be decided upon by the Boards of Directors of the
companies participating in the merger. If shareholders of Alma Media
Corporation who jointly own a minimum of five (5) per cent of the
company's shares demand in writing that the merger should be decided
upon by a general meeting of shareholders, an extraordinary meeting
of shareholders will be convened according to the Companies Act and
the Articles of Association of Alma Media Corporation.

A notification of a possible meeting of shareholders will be
published in newspapers according to the Articles of Association and
Chapter 16, Section 10 of the Companies Act.

For more information, please contact:
Teemu Kangas-Kärki, CFO, tel +358 10 665 2244


ALMA MEDIA CORP.

Rauno Heinonen
VP, Corporate Communications and IR

DISTRIBUTION: Helsinki Exchanges, principal media

Alma Media is a profitably growing and internationally expanding
company that invests in the future of newspapers and the online
media. Its best known products are Aamulehti, Iltalehti, Kauppalehti
and Etuovi.com.

Net sales in 2006 totalled EUR 302 million and the operating margin
was 16 %. The company's share is listed in the Mid Cap segment of the
OMX Nordic Exchange's Nordic List, trading code ALN1V. More
information at http://www.almamedia.fi/home