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TEN NETWORK HOLDINGS LIMITED
ABN 14 081 327 068

Appendix 4D
Half Yearly Report
Half Year ended: 29 February 2008
Previous corresponding period: 28 February 2007

Results for Announcement to the Market                                               $A’000
Revenue from ordinary activities Net profit for the period attributable to members Normalised net profit for the period attributable to members	up up up	7.3% 617.3% 16.9%	to to to	527,613 270,547 86,860

The 2008 half year result includes an income tax benefit of $183.7m which arises as a result of the creation of the Ten Network Holdings Limited tax consolidated group in February 2008. The majority ($182.3m) of the benefit relates to the restatement of the tax cost base of the television licences (see Note 2).

The 2007 half year result included subordinated debenture interest of $43.3m which no longer applies in 2008 post the CanWest debenture exchange in August 2007.

Excluding the above amounts (and associated minority interests), normalised net profit for the period attributable to members for the 2008 half year was $86.9m (2007: $74.3m). 

Dividends	Amount per security	Franked amount per security
Dividends paid
December 2007 dividend	10.0¢	10.0¢

Refer to attached Media Release for discussion of results

TEN NETWORK HOLDINGS LIMITED
ABN 14 081 327 068

Appendix 4D
Half Yearly Report
Half Year ended: 29 February 2008
Previous corresponding period: 28 February 2007

Results for Announcement to the Market                                               $A’000
Revenue from ordinary activities Net profit for the period attributable to members Normalised net profit for the period attributable to members	up up up	7.3% 617.3% 16.9%	to to to	527,613 270,547 86,860

The 2008 half year result includes an income tax benefit of $183.7m which arises as a result of the creation of the Ten Network Holdings Limited tax consolidated group in February 2008. The majority ($182.3m) of the benefit relates to the restatement of the tax cost base of the television licences (see Note 2).

The 2007 half year result included subordinated debenture interest of $43.3m which no longer applies in 2008 post the CanWest debenture exchange in August 2007.

Excluding the above amounts (and associated minority interests), normalised net profit for the period attributable to members for the 2008 half year was $86.9m (2007: $74.3m). 

Dividends	Amount per security	Franked amount per security
Dividends paid
December 2007 dividend	10.0¢	10.0¢

Refer to attached Media Release for discussion of results