2002 FIRST QUARTER RESULTS May 2002 2002 FIRST

2002 FIRST QUARTER RESULTS May, 2002

2002 FIRST QUARTER RESULTS MAIN FIGURES 1 Q 2002 1 Q 2001 % change (million euros) Revenues 279 293 (4. 7) EBITDA 40 53 (24. 3) EBIT Net Profit 23 36 (36. 6) 33 32 2. 8 EBITDA Margin EBIT Margin 14. 3% 18. 0% 8. 1% 12. 2%

2002 FIRST QUARTER RESULTS MAIN FIGURES EXCLUDING ARGENTINA Q 1 2002 Q 1 2001 % change (million euros) Revenues 275 265 4. 0 EBIT 21 21 0. 5 Net Profit 31 17 81. 1 EBIT Margin 7. 6% 7. 9%

2002 FIRST QUARTER RESULTS REVENUES BY LINE OF ACTIVITY 1 Q 2002 1 Q 2001 % change 101 104 (2. 5) BOOKS & RIGHTS 84 102 (17. 5) NEWSPAPERS & MAGAZINES 56 51 8. 4 OTHER REVENUES 38 36 6. 2 279 293 (4. 7) (million euros) ADVERTISING TOTAL REVENUES

2002 FIRST QUARTER RESULTS GRUPO PRISA ADVERTISING TREND BY QUARTERS -8% 3% 104 101 135 -7% 87 139 81 124 2001 -12% -3% 104 122 101 2002

2002 FIRST QUARTER RESULTS TOTAL REVENUES BREAKDOWN BY BUSINESS UNIT TOTAL REVENUES € 279 mn € 293 mn 25% 31% PUBLISHING 35% RADIO 14% SPECIALIZED & REGIONAL PRESS 7% 23% 1 Q 2002 24% EL PAIS OTHERS 7% 20% 1 Q 2001

2002 FIRST QUARTER RESULTS EBIT BREAKDOWN BY BUSINESS UNIT (€mn) 3 PRINTING RADIO -1 GDM 5 13 1 PRISA & OTHERS -2 -2 INTERNATIONAL MUSIC MEDIA -3 -3 SPECIAL& LOCAL PRESS LOCAL TV -3 € 23 mn INTERNET NEW BUSINESSES 14 EL PAIS PUBLISHING TOTAL EBIT

2002 FIRST QUARTER RESULTS EL PAIS MAIN FIGURES 1 Q 2002 1 Q 2001 % change Revenues 70 72 (3. 0) EBITDA 16 15 7. 9 EBIT 13 12 7. 9 18. 6% 16. 7% (million euros) EBIT Margin

2002 FIRST QUARTER RESULTS EL PAIS LEADER IN CIRCULATION 1 Q 2002 1 Q 2001 Change % AVERAGE DAILY CIRCULATION 447. 635 442. 126 1. 3 AVERAGE SUNDAY CIRCULATION 772. 419 727. 072 6. 2

2002 FIRST QUARTER RESULTS EL PAIS ADVERTISING TREND BY QUARTERS -9% -14% -22% -21% 61 -11% 56 48 42 42 37 37 29

2002 FIRST QUARTER RESULTS RADIO/SER MAIN FIGURES 1 Q 2002 1 Q 2001 % change 41 41 0. 9 6 6 8. 9 5 4 16. 2 (million euros) Revenues EBITDA EBIT Margin Including A 3 Radio Revenues EBIT Margin 11. 9% 10. 3% 44 44 7 6 15. 9% 13. 6% (0. 3) 2. 2

2002 FIRST QUARTER RESULTS EDUCATION AND GENERAL EDITIONS MAIN FIGURES (million euros) Revenues EBITDA EBIT Margin 1 Q 2002 1 Q 2001 % change 87 105 (17. 4) 21 32 (34. 2) 14 25 (41. 7) 16. 6% 23. 5%

2002 FIRST QUARTER RESULTS EDUCATION AND GENERAL EDITIONS EXCLUDING ARGENTINA MAIN FIGURES (million euros) Revenues EBIT Margin Q 1 2002 Q 1 2001 % change 82 76 7. 8 13 10 30. 5 15. 5% 12. 8%

2002 FIRST QUARTER RESULTS EDUCATION AND GENERAL EDITIONS GEOGRAPHICAL DISTRIBUTION 1 Q 2002 Spain & Portugal 14% 1 Q 2001 Spain & Portugal 18% Latam 86% Latam 82%

2002 FIRST QUARTER RESULTS OTHER ISSUES EBIT improvement in Diario As and Regional Press Cover price increase in Diario As from 0. 75 to 0. 80 € TOTAL CAPEX DURING THIS FIRST QUARTER: 32 million euros TOTAL NET DEBT: € 390 million compared to € 370 million at the end of year 2001 Implementing the cost control program