VTB Virtue Broadcst

RNS Number:7030Y
Virtue Broadcasting PLC
14 May 2004


Virtue Broadcasting Plc ('Virtue' or the 'Group')
14 May 2004

Acquisition and BT contract

Virtue Broadcasting Plc, a leading online corporate communications group, today
is pleased to announce that its Australian subsidiary, Virtue Broadcasting Pty
Ltd ('Virtue Australia'), has acquired the Webcom business assets of Red Source
Group Pty Ltd and Red Source Technology Pty Ltd ('Webcom').

Webcom supplies end to end online communications solutions to the Australasian
corporate market and has an annual turnover of #430,000. Webcom provides
Webcasting; carrier grade email applications and hosting solutions to
corporations.

Unaudited management accounts of Webcom for the nine months to 31 January 2004
show annualised revenues of AUD1,037,000 (#430,000) and book value of fixed
assets acquired of AUD294,000 (#122,000). In consideration Virtue Australia will
pay a total of AUD115,000 (#48,000) in cash net of working capital adjustments.

Virtue is also pleased to announce that Virtue Australia has signed a AUD240,000
(#100,000) annual contract with BT Global Services for the provision of hosting
and IP related services.

Mike Neville, Chairman, commented:

"The acquisition of Webcom enables the Group to broaden its footprint in the
Australasian communications market and will further complement our international
'Virtue Communications' brand. As a Group we are dedicated to providing
innovative, high-quality online communications solutions to our clients and this
acquisition is inline with that ambition. The integration of Webcom and Virtue
Australia will bring further cost savings to that market segment and add further
value to our shareholders"

ENDS

For further information please contact:

Virtue Broadcasting Plc
James Ormondroyd, Finance Director
Tel: +44 (0) 20 7785 6000

Virtue Broadcasting Pty Ltd
Iain Bartram, Managing Director
Tel: +61 (0) 2 9957 2922


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

END
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