VTB Virtue Broadcst

RNS Number:3397V
Virtue Broadcasting PLC
12 February 2004


VIRTUE BROADCASTING PLC

12 FEBRUARY 2004

AGREEMENT

Virtue Broadcasting Plc ("the Company") today announces that it has exercised an
option to acquire 298,633 shares in its Australian subsidiary Virtue
Broadcasting Pty Ltd ("Virtue Australia") from Edgewise Solutions Pty Ltd. This
transaction takes the Company's holding in Virtue Australia to 82.99% from
62.99%.

In consideration, the Board of Virtue has, today, authorised the issue and
allotment of a total of 1,707,541 ordinary shares of 0.1 pence each. Application
will be made for the new shares to be admitted to AIM and trading in the new
shares is expected to commence on 19 February 2004.

Commenting, Chairman Mike Neville said today: "The Australian operation has
continued to show improvements in performance since the half year and has now
established itself firmly in the Australian market place following the recent
acquisitions. We have taken this opportunity to acquire a further stake in the
business to enable the group to take more control".

For more information contact:

James Ormondroyd, Finance Director
Tel: +44 (0) 20 7785 6000
Email: investorrelations@virtuebroadcasting.com


ENDS



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