TEXT-APN sells New Zealand online directory arm

(The following statement was released by the company)

WELLINGTON, Feb 5 - Following extensive negotiations the Board of APN News and Media Limited (ASX, NZX:APN) announced today the sale of New Zealand based Online business directory FindA.co.nz to New Zealand Yellow(TM) Pages business Yellow, for an undisclosed sum.

The sale includes the Finda, Wises maps, menus.co.nz, UBD and APNData businesses.

Fifty per cent of Finda.co.nz was acquired by APN in 2006 with the balance acquired in 2008.

Brendan Hopkins, CEO of APN said: "Whilst we remain committed to growing our Online business, we will continue to take advantage of opportunities to realise value for non-core assets as they arise.

APN will retain the Finda name for Australia and examples of APN's substantial Online presence in its regional markets can be seen at finda.com.au/toowoomba and finda.com.au/sunshine-coast. APN remains committed to becoming the leader in Online in each of its local markets."