1. SCMP GROUP LIMITED 2006 INTERIM RESULTS Nancy Valiente Chief Financial Officer 31 August 2006

2. 2006 583 178 181 147 9.4 6.0 Strong first half results 2005 537 139 141 112 7.2 5.0 Growth 9% 28% 30% 20% Turnover Recurring operating profit Operating profit Net profit Basic EPS (HK cents) DPS (HK cents) (In HK$m, unless stated otherwise) For the six months ended June 30

3. Newspaper Magazines and books Investment properties Video film Music publishing Total 166.0 9.3 6.3 (1.8) 1.1 180.9 (In HK$m) 192.9 9.7 6.3 0.6 1.1 210.6 169.0 8.7 5.7 (3.4) 0.4 180.4 14 11 118 175 17 133.2 7.9 5.7 (5.9) 0.4 141.3 25 18 11 69 175 28 2006 % Change 2005 EBITDA 20062005 Operating Profit Better performance across most Group businesses For the six months ended June 30 % Change

4. Focus on core business Revenue: $583 millionOperating Profit: $181 million

5. 492 2005 2006 1H 9% Newspaper publishing achieved good results Net profit Operating profit Revenue 2005 2006 1H 2005 2006 1H 451 166 133 140 110 25% 27%

6. Staff costs Production costs Rent & Other opex A & P Operating costs increased 5% 13 16 (+23%) 90 (+2%) 80 86 (+7%) 175 181 (+3%) (in HK$ million) 64 88

7. 2005 1H average US$545  Average cost up 11%  Consumption flat  July order at US$625 Newsprint cost continue to rise 2006 1H average US$604 (In US$ per MT) FY2005 average US$563

8. No major change in cost structure 1H 20061H 2005 Staff costs 49% A&P 4% Rental & utilities 4% Other production costs 12% Newsprint 11% Staff costs 48% A&P 4% Rental & utilities 5% Other production costs 12% Newsprint 11% Other opex 20% Other opex 20% * Above breakdown is based on operating expenses before depreciation & amortization

9. Margins improved EBITDA margin 1H 2005 1H 2006 Group Operating profit margin 1H 2005 1H 2006 Group 1H 2005 1H 2006 Newspaper 1H 2005 1H 2006 Newspaper

10. Capital expenditures 1H Actual : $11 million2H Budget : $30 million Computer equipment Systems upgrade Publishing system $2m$3m $2m $1m Production equipment Others Computer equipment Systems upgrade Publishing system Production equipment Others Renovations $3m $5m $6m $7m $3m

11. 2001 15.8 236 12 8 50 Our financial goals EPS – before EI (in HK cents) FCF (in HK$ million) ROIC % DPS (in HK cents) Payout % 2002 9.3 194 8 87 2003 9.0 156 8 6 67 2004 13.8 215 13 12* 87* 2005 14.8 221 13 15 101 * Regular dividend. A special dividend of $0.03 cents per share was also paid. 1H2006 9.4 129 8 6 64

12. 602 733 173 165 80 85 1,753 1.1 1,560,945,596 Balance Sheet Highlights 623 733 148 181 76 105 1,731 1.1 1,560,945,596 Change (21) - 25 (16) 4 (20) 22 - Fixed assets Investment properties LT investment shares Bank balance & deposits Borrowings Net cash Net assets NAV per share (HK$) No. of shares in issue (In HK$m, unless stated otherwise) Unaudited 30 June 2006 Audited 31 Dec 2005

13. Business Review

14. What’s new at SCMP

15. Most trusted by the business community Source: Ipsos Media Asian Business Readership Survey (ABRS) 2006 Report Over 25% of Hong Kong’s top business executives consider the South China Morning Post to be trustworthy

16. Most worthy of people’s time Source: Ipsos Media Asian Business Readership Survey (ABRS) 2006 Report Around 28% of Hong Kong’s top business executives say they make time to read the South China Morning Post

17. Most important current affairs read Source: Ipsos Media Asian Business Readership Survey (ABRS) 2006 Report Nearly 27% of Hong Kong’s top business executives rate the South China Morning Post as the most important current affairs read

18. Most important business read Source: Ipsos Media Asian Business Readership Survey (ABRS) 2006 Report Nearly 22% of Hong Kong’s top business executives rate the South China Morning Post as the most important business read

19. Efforts to improve editorial quality continue  Editor-in-chief appointed in March  New business editor appointed in May  Other new hires in business section  Regular public opinion surveys and breakfast briefings  30 industry awards in first half

20. Circulation is stable Note: Audited except 1H 2006 100,004 101,782 1H2H1H2H Weekday 20042005 103,964 1H 2006 104,552104,000 200420052006 78,362 82,208 Sunday 1H2H1H2H 81,099 1H 81,453 80,000

21.  Around 20,000 subscribers 68%HK 10%US 5%China  69.5% renewal rate  Site page views up 30% SCMP.com Podcast Downloads

22. Newspapers have second highest share of ad spend 1H 2006 ad spend : $23.3 billion TV 40% Newspapers 34% Magazines 17% Others 3% Wall signage 1% Radio 3% MTR 2% Source: Admango. Based on gross rates. Excludes regional titles

23. Display advertising outperforms market  Revenue up 11% vs. 8%* for all newspapers  Yield up 5%  Volume up 4% Rate increase in premium positions Color adsNew formats Special executions Special supplements *Source: Admango 2006 Report. Based on rate card, not negotiated rates

24. More color ads In terms of revenueIn terms of volume 1H 2005 1H 2006

25. Recruitment advertising is stable  Total no. of positions advertised in print media down 5% in 1H*  5% growth in Q1 not sustained in Q2  Yield up 2% (CP) and 7% (Jiu Jik) Editorial enhancements Website enhancements Special supplements *SCMP / Nielsen Media recruitment marketing survey 2006 Work in progress

26. Strong growth in notices  Notices revenue up 47%  Results announcements make up 6% of ad revenues in 1H 2006  HK Stock Exchange Exposure Conclusion - Companies without website must continue to publish full announcement in newspaper - Companies with website Phase 1 – publish notification in newspaper Phase 2 – not required to publish notification - All companies must have website one year after Phase 1 starts - Earliest implementation – Jan 07

27. Magazines benefit from growth in ad spend  Operating profit up 32% on 5% growth in revenue  Strong results from Cosmo, Harper’s Bazaar  Cosmo still the leading international women’s title in the market. Audited circulation in 2005 of 49,188 copies (up 17%)  Pressure on cover price

28.  TV City application still pending  Leighton Road billboards contributing since April Investment Properties

29. Outlook  Stable economic conditions expected in second half  Competition mostly affecting Chinese papers  Concerns about newsprint cost, salaries and rent  Abolition of rules on results announcements to affect revenue  Investing in digital media capabilities  Good corporate governance