RNS Number:6699I
News Corporation Ld
12 March 2003


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For Immediate Release                    Contact: Investors: Reed Nolte 852 7092

                                              Media: Andrew Butcher 212 852 7070



News America Incorporated Completes Tender For $500 Million Of 8 1/2% Senior
Notes Due 2005

Completes Issue Of New Debt: $150,000,000 Of 4.750% Senior Notes Due 2010 And
$350,000,000 Of 6.550% Senior Notes Due 2033



New York, NY, March 12, 2003 - News America Incorporated completed its
previously announced offer to purchase for cash any and all of its outstanding
$500,000,000 aggregate principal amount of 8 1/2% Senior Notes Due 2005 (the
"Notes"). Approximately 74% of the Notes were tendered and accepted for payment
by News America. The tender offer commenced on March 4 and expired at 5:00 p.m.,
New York City time, on March 11, 2003. JP Morgan and Salomon Smith Barney acted
as dealer managers for the tender offer. This announcement is neither an offer
to purchase nor a solicitation of an offer to sell the Notes.

The Company also announced it had completed its offering of $150,000,000 of
4.750% Senior Notes Due 2010 at a 99.963% issue price and $350,000,000 of 6.550%
Senior Notes Due 2033 at a 99.789% issue price (the "New Notes"). The offering
was made in accordance with Rule 144A under the Securities Act of 1933. News
America used the net proceeds from the sale of the New Notes to purchase the
Notes that were tendered and will use the balance for general corporate
purposes. The offering of the New Notes has not been registered under the
Securities Act, and the New Notes may not be offered or sold in the United
States or to U.S. persons absent registration or an applicable exemption from
registration. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the New Notes.

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