BSX Approves Listing of the Common Shares of Karlholt Pty Limited

Hamilton, Bermuda, 8 November 2004 - The Listing Committee of the Bermuda Stock Exchange (BSX) today announced the approval of the listing of the Common Shares of Karlholt Pty Limited. (the "Company"). The listing was effective from 27 October 2004.

The Company was initially incorporated in the Australian Capital Territory on 2 September 1970 as Kayarem Pty Limited and changed its name to Karlholt Pty Limited on 14 October 2004.

As of the date of the listing, the Company is the ultimate holding company in the Cruden group of companies which has as its principal assets an approximate 14.66% shareholding in The News Corporation Limited and an approximately 56% shareholding in Queensland Press Pty Limited.

Reid Services Limited and LOM Capital Limited co-sponsored the listing of the Common Shares of Karlholt Pty Limited.

The issue is being introduced for listing under the Restricted Marketing provisions of the Exchange and is for securities that are aimed at Qualified Investors, being individuals or institutions that invest either a minimum of $100,000 or otherwise meet one of the suitability tests defined by the Exchange.

"The BSX is delighted to welcome Karlholt Pty Limited to listing", said Mr. James S. McKirdy, Chief Compliance Officer of the BSX.