Radio Jamaica Ltd. (RJR)- Investment in GV Media Group Ltd.

Radio Jamaica Limited (RJR) has advised that the Company has signed an agreement with the Gleaner Company Limited effective November 15, 2007 which will facilitate Gleaner Company Limited acquiring RJR’s 20% equity stake in GV Media Group Limited for £1.00. The terms of the sale will see this company not having further exposure to profits or losses from GV Media’s operations than have already been provided in the accounts for the last financial year. This is also to advise that full and complete disclosure of the impairment of the investment as at March 31, 2007 has already been made in the final accounts for last year and this agreement will have no further impact on the company’s subsequent accounts.