Possible Offer

Not for release, publication or distribution in or into the United States of
America, Canada, Australia or Japan

                                Possible offer                                 

                                      for                                      

                        The Indian Film Company Limited                         

                                      by                                       

                        Viacom 18 Media Private Limited                        

     a 50-50 Joint Venture between ibn18 Broadcast Limited and Viacom Inc.     

Viacom 18 Media Private Limited("Viacom18") announced in India earlier today
that, as part of its planned expansion in the entertainment space and
acquisition of synergistic content, it is considering making an offer for the
issued share capital of The Indian Film Company Limited ("the Company"). The
offer, if made, would be made in compliance with the requirements of the City
Code on Takeovers and Mergers.

Although Viacom18 has not at this stage made any formal approach to the board
of the Company in connection with the possible offer, it has held preliminary
discussions with Network18 Media & Investments Limited ("Network18") and
certain of its affiliates who, between them, own shares in the Company
representing approximately 80.4%. Such shareholders have indicated a
willingness to consider accepting an offer, if it is made and is on terms
sufficiently attractive to them.

Viacom18 is a 50-50 Joint Venture between ibn18 Broadcast Limited ("IBN18") and
Viacom Inc and both these shareholders have indicated their willingness to
provide the necessary funding to Viacom18 for any such offer. IBN18 is a
subsidiary of Network18, listed on the National Stock Exchange and Bombay Stock
Exchange of India.

At this stage, there is no certainty as to the terms of any offer, that such
terms will ultimately be acceptable to Network18 and its affiliates, or that
any such offer will be made. A further announcement will be made in due course.

Further information:

Tony Rawlinson

Cairn Financial Advisers LLP

T: [phone]

DEALING DISCLOSURE REQUIREMENTS

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of
any class of relevant securities of an offeree company or of any paper offeror
(being any offeror other than an offeror in respect of which it has been
announced that its offer is, or is likely to be, solely in cash) must make an
Opening Position Disclosure following the commencement of the offer period and,
if later, following the announcement in which any paper offeror is first
identified.

An Opening Position Disclosure must contain details of the person's interests
and short positions in, and rights to subscribe for, any relevant securities of
each of (i) the offeree company and (ii) any paper offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no
later than 3.30 pm (London time) on the 10th business day following the
commencement of the offer period and, if appropriate, by no later than 3.30 pm
(London time) on the 10th business day following the announcement in which any
paper offeror is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a paper offeror prior to the deadline
for making an Opening Position Disclosure must instead make a Dealing
Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1%
or more of any class of relevant securities of the offeree company or of any
paper offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any paper offeror. A Dealing
Disclosure must contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any relevant
securities of each of (i) the offeree company and (ii) any paper offeror, save
to the extent that these details have previously been disclosed under Rule 8. A
Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no
later than 3.30 pm (London time) on the business day following the date of the
relevant dealing.

If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire or control an interest in relevant
securities of an offeree company or a paper offeror, they will be deemed to be
a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by
any offeror and Dealing Disclosures must also be made by the offeree company,
by any offeror and by any persons acting in concert with any of them (see Rules
8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of
whose relevant securities Opening Position Disclosures and Dealing Disclosures
must be made can be found in the Disclosure Table on the Takeover Panel's
website at www.thetakeoverpanel.org.uk, including details of the number of
relevant securities in issue, when the offer period commenced and when any
offeror was first identified. If you are in any doubt as to whether you are
required to make an Opening Position Disclosure or a Dealing Disclosure, you
should contact the Panel's Market Surveillance Unit on [phone].

                                           


END

VIACOM 18 MEDIA PVT. LTD.