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SHAW BROTHERS AND NEWS CORPORATION HOLD DISCUSSIONS

 HONG KONG, June 15 /PRNewswire/ -- Sir Run Run Shaw, chairman of Shaw Brothers (Hong Kong) Limited Mr. Robert Kuok, chairman of Kerry Group Limited and Mr. Rupert Murdoch, chairman and chief executive of the News Corporation Limited (NYSE: NWS; AMEX: NCP; LSE: NEWCP), today announced that they have had discussions which have reached an advanced stage regarding the acquisition, subject to necessary regulatory approvals, by News Corporation of an approximately 22 percent interest in Television Broadcasts Limited ("TVB") from Shaw Brothers and the Kerry Group and their associates. Following the acquisition, it is intended that Shaw Brothers and the Kerry Group will each continue to own an interest in TVB approximately equal to that to be owned by News Corporation. Sir Run Run and Messrs. Kuok and Murdoch stated that TVB intends to expand its current television operations, including the provision of satellite broadcasting throughout Asia. TVB will shortly commence delivery of its Mandarin Language satellite television channel to Taiwan and other markets. TVB (through its Jade and Pearl channels) is the leading television broadcaster in Hong Kong and is the largest producer of Chinese language programming in the world.
 "We welcome the participation of News Corporation and Rupert Murdoch in TVB," said Sir Run Run Shaw, executive chairman of TVB. "The addition of News Corporation's expertise in international programming and satellite broadcasting to TVB's proven record of success in Chinese language programming and broadcasting will strengthen TVB's leading position in the region and paves the way for the future growth and expansion of TVB."
 Robert Kuok, deputy chairman of TVB stated, "We are pleased to welcome Rupert Murdoch and News Corporation into TVB. The international experience and strengths of News Corporation complement TVB's strengths in Chinese language programming and broadcasting."
 Rupert Murdoch, chairman and chief executive of the News Corporation Limited stated, "I am honored to have the opportunity to work with Sir Run Run Shaw," a legendary figure in the entertainment industry, and with Robert Kuok, a renowned businessman and leading figure in the region, in furthering the growth and profitability of TVB. We look forward to entering exciting new businesses in this rapidly growing part of the world, and are pleased to be able to participate in TVB, the leading provider of Chinese language programming in the world. We believe that the combination of News Corporation's international expertise with TVB's strong record of success in its growing market will create the premier Asian company engaged in terrestrial and satellite television broadcasting."
 For further information please contact: Louis Page, director of Shaw Brothers (HK) Limited, 011-852-719-1551, Chye Kuok, managing director of Kerry Group Limited, 011-852-525-7211, or William Sorenson, vice president of The News Corporation Ltd., 212-852-7035
 -0- 6/15/93
 /CONTACT: Marcia Horowitz or Peter Rosenthal of Howard J. Rubenstein, Associates, 212-489-6900, for The News Corporation Limited/
 (NWS)


CO: The News Corporation Limited; Shaw Brothers (Hong Kong) Limited ST: New York IN: PUB SU:

LR-SM -- NY013 -- 1984 06/15/93 09:31 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
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