Stock Exchange Announcement

SRH RAJAR Results: Wave II 2003

SRH announced today (Thursday 31 July) that the latest audience research figures (RAJAR) confirm its radio companies’ market leading positions.

Radio Forth has widened the gap with its major commercial competitor in Edinburgh, while Radio Clyde continues its dominant position in Glasgow.

In comparison to RAJAR Wave I 2003, Clyde’s reach holds at a strong 46% (47%) and Forth at 36% (37%). Most other Scottish stations improved both their market share and total hours tuned. The exception was Moray Firth, which, while growing reach to a record level of 58%, up 4,500, and maintaining its market leading position, saw a small decline in market share, as did the smaller Radio Borders.

CFM in Cumbria and Carlisle again grew reach 52% (50%) and market share 34.2% (33.6%), as did Wave, the regional station in Southern England: reach 19% (17%), and market share 7% (5.9%).

SRH also announces today that it has completed the purchase of the 49% of the shares in Vibe Radio Services held by GWR, giving SRH 100% of the two important regional services in East Anglia and Wales and the South West. This follows the recommendations made to the Secretary of State for Trade & Industry earlier this year regarding GWR’s ongoing involvement in the joint venture.

SRH has already appointed Managing Directors to each of the stations and switched the selling of national airtime to its own London based sales operation, SIRS.

SRH Chief Executive Richard Findlay said: “Naturally, we are more than pleased that we continue to hold our market leading positions and look forward to growing our two new regional stations in the same way as has been accomplished at Wave 105.”

For further information please contact:

Scottish Radio Holdings plc David Goode 0141 565 2203

Gavin Anderson & Co Byron Ousey 0207 554 1400