RECOMMENDED OFFER FOR ZODIAK TELEVISION AB (PUBL)

This press release is not and must not, directly or indirectly, be distributed or made public in United States, Australia, Canada, Japan, South Africa or New Zealand. The Offer is not being made to persons in those jurisdictions or elsewhere where their participation requires further offer documents, filings or other measures in addition to those required by Swedish law.

26 May 2008
RECOMMENDED OFFER FOR ZODIAK TELEVISION AB (PUBL)

Goldcup D 3924 AB (“Goldcup”) – a company controlled by DeA Cont S.A.S. (“DeA Cont”), a subsidiary of De Agostini Communications S.p.A. (“DeA Com”), and the current shareholders in Zodiak Television AB (publ) (“Zodiak”) Mr. Ludo Poppe and Mr. Stefaan Soetewey – announces a public cash offer to the shareholders and holders of convertibles in Zodiak to tender all outstanding shares and convertibles in Zodiak (the “Offer”). Zodiak’s shares are listed on OMX Nordic Exchange Stockholm AB.

• Goldcup offers
o SEK 40 cash per share in Zodiak; and
o SEK 40 cash per convertible with a nominal value of SEK 27 in Zodiak.
• Premium offered to Zodiak’s shareholders:
o 33.8 per cent compared to the closing price of Zodiak’s shares on 23 May 2008;
o 53.8 per cent compared to the average volume-weighted closing price for Zodiak’s shares over the last three months; and
o 60.4 per cent compared to the average volume-weighted closing price for Zodiak’s shares over the last six months.
• The total value of the Offer is SEK 1,272.1 million.
• Zodiak’s Board of Directors unanimously recommends the company’s shareholders and holders of convertibles to accept the Offer.
• Mr. Poppe and Mr. Soetewey are two of the largest shareholders in Zodiak with a combined holding that represents 19.8 per cent, 19.1 per cent and 19.8 per cent of all shares, convertibles and votes, respectively, in Zodiak. Mr. Poppe and Mr. Soetewey have irrevocably undertaken to accept the Offer subject to certain conditions.
• Goldcup is currently owned by DeA Cont, Mr. Poppe and Mr. Soetewey with 91 per cent, 4.581 per cent and 4.419 per cent, respectively. DeA Cont will invest into Goldcup. At the closing of the Offer, Mr. Poppe and Mr. Soetewey shall also reinvest at least 50 per cent and up to 100 per cent of their respective proceeds for their Zodiak shares and convertibles tendered in the Offer into Goldcup.
• One of Zodiak’s largest shareholders, Intercommerce Media AB, with a holding that represents 10.1 per cent of all shares, convertibles and votes, respectively, in Zodiak, has irrevocably undertaken to accept the Offer subject to certain conditions.
• The Offer is conditional upon, among other things, Goldcup acquiring more than 90 per cent of the shares in Zodiak.
• The acceptance period is expected to be from 5 June 2008 to 26 June 2008, both dates inclusive.
“Zodiak has achieved a solid position in the television content production sector with an appealing geographic coverage, thus representing an attractive strategic fit for De Agostini. The acquisition of Zodiak constitutes an important step in De Agostini's strategy to create an international content platform which already encompasses Magnolia (active in Italy and Spain) and Marathon (active in France).
Zodiak's geographic complementarity is further enhanced by the strategic alignment with its top management.” (Lorenzo Pellicioli, CEO of De Agostini)
The complete terms and conditions for the Offer can be found on the following pages, which represent an integral part of this press release, and in the offer document which will be sent to Zodiak’s shareholders and holders of convertibles.