MME Medal Ent&Med

RNS Number:5571I
Medal Entertainment & Media PLC
06 September 2006

6 September 2006



                        Medal Entertainment & Media plc

                            ("MEM" or "the Company")


                      Sale of Fountain Television Limited


The directors of MEM ("the Directors") are pleased to announce that the Company
has completed the sale of Fountain Television Limited ("Fountain"), owner and
operator of the 13,000 sq. ft television studios in Wembley, to InvestinMedia
Investments Limited, a wholly-owned subsidiary of InvestinMedia plc, for a total
payment of #6.8 million paid in cash at completion.



The principal activity of Fountain is the ownership and operation of the
Fountain Television Studios in Wembley.  In the year ended 31 March 2006,
Fountain achieved a turnover of approximately #3.2 million and a loss on
ordinary activities before tax of approximately #0.4 million.  At 31 March 2006,
the net assets of Fountain stood at approximately #1.7 million.



The net sale proceeds will be applied in the short term to reduce borrowings
substantially, including the repayment of a #2.9 million mortgage held by the
Company and secured on the assets of Fountain, and, in the medium term, to
provide a platform for the further development of the Group both organically and
by acquisition.



This disposal represents a Substantial Transaction under rule 12 of the AIM
Rules and also a Related Party Transaction under rule 13 of the AIM Rules by
virtue of the fact that InvestinMedia plc owns 20.74 per cent. of MEM's shares
and Richard Murray, a non-executive director of MEM, is also chairman of
InvestinMedia plc.



In accordance with rule 13 of the AIM Rules, the directors of MEM, with the
exception of Richard Murray who is a related party, consider, having consulted
with MEM's nominated adviser, Nabarro Wells & Co. Limited, that the terms of the
transaction are fair and reasonable so far as MEM's shareholders are concerned.





Enquiries:


Steve Ayres, Chief Executive, MEM plc                         Tel: 020 7851 0550
Tim Allan/Diane Barnes, Portland PR                           Tel: 020 7404 5344
Richard Swindells, Nabarro Wells & Co. Limited                Tel: 020 7710 7400




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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