SelecTV gains $23.47m support from WIN CorporationJune 30 2006<br /><br />SELECTV Broadcasting Limited (ABN 55 106 794 905) (“SelecTV”), Australia’s newest pay television company, today announced that WIN Corporation Pty Limited (ABN 43 000 737 404) (“WIN”) has agreed to subscribe for 195,609,454 SelecTV shares at $0.12 per share to raise approximately $23.47 million which would result in WIN holding a majority stake in the company. The agreement with WIN is conditional only on SelecTV shareholders approving the issue of shares to WIN. A meeting of shareholders is expected to be convened for late July 2006.<br />SelecTV has both an immediate and medium term requirement for equity funding. The WIN transaction, if approved, would immediately fully fund SelecTV’s business plan. SelecTV CEO Jim Blomfield said, “WIN’s presence in SelecTV is very welcome. It will add a broad and complementary dimension to our operation that will allow us to move ahead with confidence”.<br />Andrew Gordon, Executive Chairman of WIN Corporation added, “Working with SelecTV, WIN can extend its presence into pay television to all of Australia. SelecTV will compliment our current broadcasting operations and provide us with a vehicle to capitalise on our growing media assets”.<br />Shane Allan, Chairman of SelecTV said, “An alliance between two such significant companies, whose operations are managed by some of Australia’s most experienced media executives, secures the future of our dynamic young company”. WIN is the largest regional television broadcaster in Australia.<br />SelecTV shareholders have also been advised of a takeover bid for SelecTV made by Access Providers Limited (“APV”), offering one APV share for each SelecTV share held.<br />The APV offer is highly conditional and does not provide any funding to SelecTV or certainty to SelecTV shareholders.<br />The Directors of SelecTV unanimously consider the unconditional WIN transaction to be superior to the APV offer and, in the absence of a superior proposal, recommend that shareholders approve the issue of shares to WIN and reject the APV bid.