INDEPENDENT NEWSPAPERS LIMITED INL | deListed New Zealand

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delisted following completion of a scheme of arrangement to merge Independent Newspapers Limited ("INL") and Sky Network Television Limited ("SKY") - (under the Scheme, a new company ("MergeCo") purchased all of the shares in INL and SKY and then all three companies amalgamated, with MergeCo remaining as the surviving company - MergeCo was then renamed Sky Network Television Limited) - SKY shareholders received $1.28 per share and one MergeCo share for each SKY share - each INL shareholder received $1.78 per share and 0.836 of a MergeCo share for each INL share	04/07/2005

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INDEPENDENT NEWSPAPERS LIMITED(INL)