Düsseldorf, November 21, 2006 — Shearman & Sterling advised Axel Springer AG on the acquisition of 25% of the shares of Doğan TV Radyo Yayın Yapım ve Haber Ajansı A.Ş. (Doğan TV) from Doğan Yayın Holding A.Ş. The volume of the transaction is currently €375 million.

Doğan Yayın Holding A.Ş. is a leading Turkish media company and currently holds 99.51% in Doğan TV, which includes all TV and radio activities combined.

The following Düsseldorf attorneys advised Axel Springer on the transaction: Partner Rainer Wilke (M&A/Corporate) and the associates Thankmar Wagner, Jan Krause and Erbo Heinrich (all M&A/Corporate).

For additional information contact:
Marcus Brans | Düsseldorf | T +49.211.17888.907 |

NOTES TO EDITOR
On Turkish law issues Axel Springer was advised by the law firm Hergüner Bilgen Özeke and on Swiss law by the law firm Homburger.

Shearman & Sterling LLP is a global law firm with approximately 1,000 lawyers located in 19 offices around the world.  The firm is a leader in mergers and acquisitions, capital markets, project development and finance, com-plex business litigation and international arbitration, asset management and tax.