SWD Sportsworld

RNS Number:6343C
Sportsworld Media Group PLC
16 December 1999


RESULT OF OPEN OFFER

INTRODUCTION

On 24 November 1999, Sportsworld Media Group plc ("Sportsworld" or "the
Company") announced a placing (the "Placing") and open offer (the "Open
Offer") of 11,319,149 ordinary shares of 1p each ("Open Offer Shares") at 280
pence per new Open Offer Share (the "Issue Price"). Pursuant to the Open
Offer, qualifying shareholders were invited by Investec Henderson Crosthwaite,
a division of Investec Bank (UK) Limited, as agent for the Company, to apply
for up to 11,319,149 Open Offer Shares on the basis of 3 Open Offer Shares for
every 10 ordinary shares of 1p each held at the close of business on 22
November 1999.

RESULT OF THE OPEN OFFER

A total of 11,319,149 Open Offer Shares were made available under the Open
Offer, which closed at 3 p.m. on 15 December 1999. The Company announces that
valid applications have been received for 3,416,769 Open Offer Shares,
representing 30.19 per cent. of the Open Offer Shares.

The Company procured irrevocable undertakings not to take up their
entitlements under the Open Offer from the trustee of trusts of which Jeffrey
Chapman (Chairman of the Company) and Geoff Brown (Chief Executive of the
Company) are beneficiaries in respect of, in aggregate, 6,796,689 Open Offer
Shares. The number of valid applications for Open Offer Shares therefore
represents approximately 76 per cent. of the Open Offer Shares which were
capable of being taken up by qualifying shareholders.

The remaining Open Offer Shares not taken up by qualifying shareholders under
the Open Offer, together with the 6,796,689 Open Offer Shares in respect of
which irrevocable undertakings were received, have been conditionally placed
at the Issue Price by Investec Henderson Crosthwaite.


Enquiries:

Sportsworld Media Group plc
Geoff Brown, Chief Executive       
Andy Fletcher, Chief Financial Officer
Tel: 0207 240 9626


Investec Henderson Crosthwaite 
Jagjit Mundi, Managing Director of Corporate Finance
Tel: 0207 597 5970

END
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