News Corporation Announces Volvo Ocean Race Entry

by Lizzie Green on 13 Oct 2000 New York, NY - October 12, 2000

News Corporation, one of the world's leading media and entertainment companies today announced its entry in the
Volvo Ocean Race 2001-2002. The Company declared a two-boat development and race strategy that includes an
entry in the Sydney to Hobart race on December 26, 2000.

The News Corporation syndicate will be managed by Ross Field Yachting and skippered by Britain's Jez Fanstone.
The crew of 12 includes yachtsmen from Britain, Australia and New Zealand. The syndicate acquired a yacht from
the 1997-98 Round the World race to compete in the Sydney to Hobart and for initial training in Auckland, New
Zealand. A new Volvo Ocean 60 will be launched in 2001 for the Volvo Ocean Race campaign.

"The Volvo Ocean Race represents the pinnacle of competition yachting. I have complete confidence in Field's ability
to assemble a first-rate team and world-class yacht for the race. Fanstone is an experienced yachtsman with
qualities needed to skipper a boat in the Volvo Ocean Race," said Lachlan Murdoch, News Corporation's Deputy
Chief Operating Officer.

Field has competed in four Whitbread Round the World races. His proven expertise in strategic planning and
organization will provide strong back up for Fanstone and the sailing team. Field was a Watch Captain on the boat
that won all six legs of the 1989-1990 race and was skipper of Yamaha, which won the Whitbread race in 1993-1994.
His many international successes include winning the Melbourne-Osaka two-handed race, the Admiral's Cup and
three Fastnet Races - two as skipper. In 1999 Field established a new monohull record for the classic Fastnet race.

Fanstone's broad sailing background includes crewing on the British yacht Silk Cut in the 1997-98 Whitbread race.
Field and Fanstone teamed up to race in the European Maxi One Design Class, a successful partnership that has
lead to their new joint venture with News Corporation.

The two Watch Captains for the News Corporation syndicate will be Australian-born Steve Cotton and Englishman
Neal McDonald. Both have previous round-the-world sailing experience.

Ross Field Yachting has contracted Annapolis-based Bruce Farr to design an all-new yacht for the Volvo Ocean
Race. Construction of the latest generation Farr design will begin at Cookson Boats in Auckland, New Zealand in
October, with a scheduled launch for April 2001.

The syndicate has purchased Merit Cup, a yacht built for a two-boat campaign in the last Whitbread race. This
Farr-designed yacht is currently in New Zealand and being used for crew training and development in preparation for
the Sydney-Hobart race. During the build-up phase of the campaign, the syndicate will be based at the America's
Cup Harbour in Auckland and will relocate to southern England after completing sea trials off the New Zealand coast.

ABOUT THE VOLVO OCEAN RACE
Formerly known as the Whitbread, The Volvo Ocean Race is the world's premier ocean race, occurring every four
years. The professionally crewed 9-month race begins on September 23, 2001. It will cover 32,750 nautical miles and
visit ten cities world-wide including Southampton (England), Cape Town (South Africa), Rio de Janeiro (Brazil),
Sydney (Australia), Auckland (New Zealand), Miami, Baltimore/Annapolis (USA), La Rochelle (France), Gothenburg
(Sweden) and Kiel (Germany).

ABOUT NEWS CORPORATION
News Corporation had total assets as of June 30, 2000 of approximately US$40 billion and total annual revenues of
approximately US$14 billion. News Corporation's diversified global operations in the United States, Canada,
continental Europe, the United Kingdom, Australia, Latin America and the Pacific Basin include the production of
motion pictures and television programming; television, satellite and cable broadcasting; the publication of
newspapers, magazines and books; the production and distribution of promotional and advertising products and
services; the development of digital broadcasting; the development of conditional access and subscriber
management systems, and the creation and distribution of popular on-line programming.