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Reorganisation Of Capital Of News Corporation In The S&P/ASX 50 And S&P Global 1200 Indices

Date 01/11/2004

Standard & Poor’s will make the following changes in the S&P/ASX 50 and S&P Global 1200 Indices effective after the close of trading Wednesday November 3rd, 2004 pending final approvals.

News Corporation Limited Ordinary shares (Australia, SEDOL: 6886925, GICS Code: 25401030) a member of the S&P/ASX 50 and S&P Global 1200 Indices will consolidate its shares in a ratio of 1 new Chess Depository Interests (CDI’s) representing US common stock for every 2 ordinary shares held. This reconstruction is due to the incorporation of the company to the United States from Australia.

News Corporation Limited Preference shares (Australia, SEDOL: 6620758, GICS Code: 25401030) a member of the S&P/ASX 50 and S&P Global 1200 Indices will consolidate its shares in a ratio of 1 new Chess Depository Interests (CDI’s), representing US non-voting common stock for every 2 preference shares held. This reconstruction is due to the incorporation of the company to the United States from Australia.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP) is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With 5,000 employees located in 20 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than 280 offices in 40 countries. Sales in 2003 were $4.8 billion. Additional information is available at http://www.mcgraw-hill.com.