GRUPO CLARIN S.A.

Director Resignation and Appointment

On 29 December 2011, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that Mr. Mario C. Parrado, an independent member of the Board of Directors of the Company, had resigned from his position effective as from 31 December 2011, on the grounds that he had recently assumed other personal and professional commitments.

Mr. Parrado will be replaced by Mr. Lorenzo Calcagno, who was appointed on 29 December 2011 by the Company's Supervisory Commission, as provided under Section 258 of the Argentine Corporate Law No. 19,550.  Mr. Calcagno satisfies all legal requirements to be considered as an independent director.

Enquiries:

In Buenos Aires:

Alfredo Marín /

Agustín Medina Manson

Grupo Clarín

Tel: +5411 4309 7215

Email: investors@grupoclarin.com

In London:

Alex Money / Helen Greenwood

Temple Bar Advisory

Tel: +44 20 7002 1080

Email: clarin@templebaradvisory.com

In New York:

Melanie Carpenter / Peter Majeski

I-advize Corporate Communications

Tel: +1 212 406 3692

Email: clarin@i-advize.com

Secretary