1. The above results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the company held on May 19, 2009.

2. Figures for Previous period have been regrouped / rearranged wherever required to make them comparable.

3. General Administrative Expenses includes employee cost of Rs. NIL (Rs. 673 Lacs) for the quarter and Rs.820 Lacs (Rs.2,805 Lacs) for the year.

4. The Annual general meeting of the company will be held on July 16, 2009.

5. The members of the company by way of Postal Ballot have approved transfer of Printing and Publishing business of the Company by way of slump sale together with all its properties, assets, rights, liabilities /obligations of whatsoever nature and Kind and its employees on a going concern basis to a New Wholly Owned Subsidiary Midday Infomedia Ltd, through Business Transfer Agreement pursuant to Section 293 (1)(a) of the Companies Act, 1956. This is effective from July 01,2006. The resultant loss of Rs.917 lacs (net of deferred tax adjustment of Rs.370 lacs) has been reported as extra-ordinary item.

6. Exceptional items include (a) Write-off of Bad Debts of Outdoor & TV divisions, which have been discontinued in earlier years of Rs 86 lacs (b) Write-off of Loan to Mid-DAY Radio North (India) Ltd Rs. 202 lacs (c) Writing off balance unamortized cost of Black Friday movie of Rs. 329 lacs, (net of deferred tax adjustments of Rs 169 lacs), (d)
Provision for diminution in the value of Investment in Mid-DAY Radio North (India) Ltd Rs 5 lacs and (e) Provision for diminution in the value of Investment in Mid-Day Broadcasting South (India) Pvt Ltd. Rs 1 lac.

7. As regards to Auditors qualification on earlier accounts of Radio Mid-day West (India) Ltd (Subsidiary Company) in respect of recognition of deferred tax assets of Rs.3938.76 lacs as on March 31,2009. The Board is virtually certain that there will be sufficient future taxable income against which the Deffered tax asset can be realize and hence company has decided to recognize the Deffered tax asset for the carry forward loss.