Auditors’ Report 
TO THE SHAREHOLDERS OF ONE CARIBBEAN MEDIA LIMITED (formerly Caribbean Communications Network Limited)

We have audited the accompanying consolidated balance sheet of One Caribbean Media Limited (the  Company) and its subsidiaries (the Group) as at 31st December, 2005 and the related consolidated income  statement, the consolidated statement of changes in equity and consolidated cash flow statement for the  year then ended as set out on pages 21 to 46.

These financial statements are the responsibility of the  Company’s management. Our responsibility is to express an opinion on these financial statements based  on our audit.  We conducted our audit in accordance with International Standards on Auditing. Those standards require  that we plan and perform the audit to obtain reasonable assurance about whether the financial statements  are free of material mis-statement. An audit includes examining, on a test basis, evidence supporting the  amounts and disclosures in the financial statements.

An audit also includes assessing the accounting  principles used and significant estimates made by management, as well as evaluating the overall financial  statements presentation. We believe that our audit provides a reasonable basis for our opinion.  In our opinion, the accompanying consolidated financial statements present fairly, in all material respects,  the financial position of the Group as at 31st December 2005 and the results of its operations and cash  flows for the year then ended in accordance with International Financial Reporting Standards.

PRICEWATERHOUSECOOPERS 
Port of Spain 
Trinidad,
W. I. 
23rd February, 2006