RNS Number:5157U
Robert W. Baird Limited
22 January 2004

                                 EMM DISCLOSURE

                                                             FORM 38.5 (SUMMARY)



Lodge with a RIS and the Takeover Panel.  Use a separate form for each class of
securities in which dealings have been made.





CONNECTED EXEMPT MARKET- MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS





Name of EMM


Robert W. Baird Limited



Date of disclosure


22nd January 2004



Contact name


Erica Westwood



Telephone number


020 7667 8209



Please see attached disclosure of dealings under Rule 38.5 in the securities
of the following companies:


ENTERTAINMENT RIGHTS PLC



AMENDMENT



If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:






In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date), the
exercise price and any option money paid or received. For derivatives this
should include, at least, the number of reference securities to which they
relate (when relevant), the maturity date (or if applicable the closing out
date) and the reference price.



For full details of the disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 020 7638 0129.
Email: monitoring@disclosure.org.uk


                                                                       FORM 38.5

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS



Dealing in (name of company)


Entertainment Rights Plc



Class of security


Ordinary Shares



Date of disclosure


22nd January 2004



Date of dealing


21st January 2004



Name of EMM


Robert W. Baird Limited



Name of offeree/offeror with whom connected


Entertainment Rights Plc



Total number of securities purchased


124,122



Highest price paid*


12.50 pence



Lowest price paid*


12.50 pence



Total number of securities sold


100,000



Highest price received*


12.50 pence



Lowest price received*


12.50 pence



*Currency must be stated


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