RNS Number:3602H
Prestige Publishing PLC
11 February 2003

For Immediate Release

Prestige Publishing PLC ("Prestige/Company")

At the time of  the Admission of the Company to the Alternative Investment
Market ("AIM") on 28 November 2001 the Prospectus set out details of an option
agreement between the Company and Black Book Publishing Limited ("Black Book").
The option was granted to Prestige at the time it subscribed, at a cost of
#50,000, for    233 ordinary shares of #1 each, fully paid in Black Book and
gave it the right to acquire up to a further 1,140 ordinary shares of #1 each,
on the payment of an additional #125,000.  In the event of the Company
exercising the option in full it would have resulted in Prestige holding 49 per
cent of the enlarged issued share capital of Black Book.

After due consideration the directors of Prestige have decided, with the
agreement of Black Book, to waive their rights under the option arrangement set
out above and Black Book, in consideration of the Company having done so, will
cancel an entitlement to the sum of #10,000 due to it from Prestige.  Prestige
will retain its holding of  233 ordinary shares of Black Book representing 14
per cent of the issued share capital of Black Book.

11 February 2003


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