Munich, 18 January 2010. Sky Deutschland AG today announces that, further to its statement of 21 December 2009 of a planned capital increase, it has set the subscription price at € 2.25 per new share. The company expects to receive proceeds of € 110 million by issuing 49,014,714 new shares. News Adelaide Holdings B.V., a fully owned indirect subsidiary of News Corporation, will subscribe to the shares. As a result News Corporation’s stake will increase from the current level of 39.96 percent to 45.42 percent. The new shares are expected to be included in trading on the Frankfurt Stock Exchange by latest 22 January 2010.

The proceeds will increase Sky Deutschland’s financial flexibility and will be invested in further initiatives to support sustained subscriber growth. These include:
- additional investments to intensify marketing and sales initiatives including an increase in direct marketing activities to drive subscription volumes.
- additional investments to accelerate the roll-out of Sky Deutschland’s HD service. With seven HD channels currently, Sky Deutschland’s HD offering is the most comprehensive in the German-speaking market. The company plans to expand the service, starting with an additional four channels in mid 2010.
- additional investments in programming and in new channels to provide a greater choice and quality of content on Sky Deutschland’s premium service.
Upon the registration of the new shares in the commercial register, the total number of Sky Deutschland’s shares will increase from 490,147,144 shares to 539,161,858 shares.

Contact for press:
Dr. Hans-Jürgen Croissant
Senior Vice President Corporate Communications
Tel.: +49 89/99 58-63 97
hans-juergen.croissant@sky.de
   
Contact for investors and analysts:
Christine Scheil
Vice President Investor Relations
Tel.: +49 89/99 58-10 10 
christine.scheil@sky.de

This release contains statements regarding future developments that have been based on current evaluations and have been made to best of the knowledge of the management of Sky Deutschland AG. Such statements with regard to future developments are subject to known and unknown risks, uncertainties and other factors that could cause the profit situation, profitability, value development or the performance of Sky Deutschland AG or the success of the media industry to diverge from those profit situations, profitability, value development or performance results that are assumed expressly or implied or described in these statements regarding the future. Considering these risks, uncertainties and well as other factors, readers of these documents should not rely in an incommensurate manner on these statements dealing with future developments. Sky Deutschland AG has no obligation to behave in keeping with such statements regarding future developments or to alter its behavior to accommodate future events and developments.