On September 25, the Board of Directors of CLT S.A. met at CLT Group headquarters in Luxembourg.

CLT-UFA Luxemburg, Septembre 26, 1996

On September 25, the Board of Directors of CLT S.A. met at CLT Group headquarters in Luxembourg.

Acting on the recommendations of CLT management, the Board confirmed the Group's decision to suspend work on the Club RTL digital television project in Germany. Future efforts will focus on free-TV, where the group will seek to strengthen its position as European leader, initially in markets where it is already present but also through moves into new geographical areas. The CLT Group will nonetheless remain involved in digital pay-TV in France and Germany through two projects: participation in the TPS ("Television Par Satellite") project in France, and, following the alliance with Ufa, a 37.5% interest in Premiere, Germany's leading pay-TV station with more than 1.2 million subscribers.

The Board of Directors also reviewed unaudited consolidated accounts to June 30, 1996. CLT Group revenues for the first half of 1996 total LUF 45,844 million, compared with LUF 45,393 million on June 30, 1995, a rise of 8.4% when restated for identical structures. Consolidated earnings for the same period were LUF 2,199 million compared with LUF 2,369 million in the first half of 1995. The 1996 figure comprises exceptional capital gains of LUF 4,729 million from divestments including the sale of the Villa Louvigny property and sale of the Tele Star group. 60% of the capital gain generated by the latter operation was booked in the first half of 1996. Consolidated accounts for first-half 1995 included an exceptional amount of LUF 854 million, consisting primarily of the capital gain on the sale of CLT's 25% interest in US production group Saban. These exceptional items allowed the CLT Group to absorb all costs and provisions arising from the suspension of the Club RTL digital pay-TV project in Germany, set at LUF 3,626 million.

Restated for comparable structures and to eliminate both exceptional items and losses incurred at the start-up of new projects, consolidated income on ordinary business totals LUF 2,051 million, up 10.9% on the first half of 1995. This increase stems primarily from RTL Television, which reported revenues up 6% in 1995, and a rise in earnings in the fiercely competitive German market.

In the first half of 1996, CLT pursued its business development strategy in core activities radio and television, as well as the acquisition and distribution of program rights.

In television, CLT has teamed up with M6, TF1, France Television and the Lyonnaise des Eaux group to form TPS ("Television Par Satellite"), a company that will launch a bouquet of digital pay-TV channels in France in the near future. The M6 TV licence was renewed for a period of 10 years.

In April and May 1996, CLT raised its stake in RTL4 S.A. from 47.28% to 60.78% by purchasing existing shares. The move strengthened its interest in HMG (Holland Media Groep), which operates three television channels (RTL4, RTL5 and Veronica), two radio programs and a production company.

In July 1996, the German RTL Television channel signed a major 10-year output deal with MCA. The contract secures access to a stock of high-quality films, thereby consolidating and strengthening the company's leading position in the German market.

On April 19, CLT launched two radio stations in Sweden: 104.7 RTL and Bandit Radio. Latest surveys indicate that both are already market leaders in the Stockholm area.

In France, where conditions on advertising markets are poor, RTL saw advertising revenues slip below target despite good survey figures. On March 18, France's audiovisual authority (Conseil Superieur de Audiovisuel) authorized CLT Group to raise its stake in RTL 2 from 46.59% to 100%.

Finally, the agreement signed by Audiofina and Bertelsmann on July 5 pooling the audiovisual activities and interests of CLT and Ufa, was submittted to competent national media authorities and to the European Commission for approval.

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For further information please contact:
RTL Group
Markus Payer
Head of Media Relations
Tel: (+352 42142-5020)