SWD Sportsworld

RNS Number:2576I
Sports & Outdoor Media Intnl PLC
31 March 2000


Not for release, publication or distribution in or into the United States,
Canada or Japan

Sportsworld Media Group plc ("Sportsworld")

RECOMMENDED OFFER (THE "OFFER") BY INVESTEC HENDERSON CROSTHWAITE ("INVESTEC")
ON BEHALF OF SPORTSWORLD FOR SPORTS & OUTDOOR MEDIA INTERNATIONAL PLC ("SOMI")

93.19 PER CENT. ACCEPTANCES OF THE OFFER

OFFER DECLARED UNCONDITIONAL AS TO ACCEPTANCES

SPORTSWORLD EXTENDS TIME FOR ACCEPTANCE OF OFFER FOR SOMI

OPEN OFFER ("OPEN OFFER") OF 4,511,037 NEW ORDINARY SHARES AT 620 PENCE EACH

Sportsworld announces that, as at 3.00 pm on 30 March 2000, being the first
closing date of the Offer, valid acceptances of the Offer had been received in
respect of 31,471,360 SOMI Shares, representing approximately 93.19 per cent.
of the existing issued share capital of SOMI. The Offer is therefore
unconditional as to acceptances but remains subject to fulfilment of the other
conditions of the Offer. 

In relation to the Open Offer, valid acceptances had been received in respect
of 2,254,478 new Ordinary Shares of Sportsworld, with the balance of those new
Ordinary Shares to be issued under the Open Offer having been placed by
Investec.

Prior to making the Offer, Sportsworld received irrevocable undertakings to
accept the Offer from certain SOMI Shareholders and each of the SOMI Directors
(in respect of their own and associated beneficial holdings) amounting, in
aggregate, to 25,585,200 SOMI Shares, representing approximately 75.76 per
cent. of the existing issued share capital of SOMI and a further 2,041,115
SOMI Shares over which certain SOMI Directors have options, subject to
exercise and issue.  Valid acceptances have been received in respect of
25,585,200 of such SOMI Shares, representing approximately 75.76 per cent. of
the existing issued share capital of SOMI.

Prior to the commencement of the Offer Period Sportsworld held no SOMI Shares.
During the Offer Period Sportsworld has acquired 408,685 SOMI Shares,
representing approximately 1.21 per cent. of the existing issued share capital
of SOMI, at 150 pence per share.

Save as disclosed above, neither Sportsworld nor any person acting, or deemed
to be acting, in concert with them held any SOMI Shares (or rights over SOMI
Shares) prior to the commencement of the Offer Period, nor has any such person
acquired or agreed to acquire any SOMI Shares (or rights over SOMI Shares)
since that time and no acceptances of the Offer have been received from such
persons acting, or deemed to be acting, in concert with Sportsworld.

The Offer has been extended for a further 14 days and will remain open for
acceptances.  The next closing date for the Offer will be 3.00 pm on 13 April
2000.  The Cash Alternative has also been extended to 13 April 2000 when it
will close unless Sportsworld and Investec agree to extend it.  The Cash
Alternative continues to be conditional on the Offer becoming or being
declared unconditional in all respects.  SOMI Shareholders who have not yet
accepted the Offer but wish to do so should complete and return their Forms of
Acceptance as soon as possible and in any event so as to be received by no
later than 3.00 pm on 13 April 2000.  The procedures for acceptance of the
Offer are set out on pages 11 to 13 of the offer document dated 9 March 2000
(the "Offer Document") and in the Form of Acceptance.  The Offer remains
subject to the terms and conditions (other than the acceptance condition which
has been fulfilled) set out in the Offer Document, including shareholder
approval of the Offer at the Extraordinary General Meeting of the Company
convened for 10.15 am on Monday, 3 April 2000.

Terms defined in the Offer Document have the same meaning in this press
announcement.

For further information contact:

Sportsworld                                        020 7240 9626
Geoff Brown, Chief Executive
Andy Fletcher, Chief Financial Officer

Investec Henderson Crosthwaite                     020 7597 5970
Jagjit Mundi, Managing
Director of Corporate Finance

Financial Dynamics                                 020 7831 3113
Tim Spratt, Director
Tania Wild

The Offer has not been made, directly or indirectly, in or into, the United
States, Canada or Japan and this announcement is not being, nor should it be,
posted or otherwise distributed or sent in or into the United States, Canada
or Japan.  The new Sportsworld Shares and Loan Notes which may be issued
pursuant to the Offer have not been and will not be registered under the
Securities Act or under the relevant securities laws of any state or other
jurisdiction of the United States, Canada or Japan.  Accordingly, the new
Sportsworld Shares and the Loan Notes may not (unless an exemption from the
Securities Act or such other laws is available) be offered, sold, resold or
delivered, directly or indirectly, in or into the United States, Canada or
Japan or other jurisdiction where this would constitute a violation of the
relevant laws of, or require registration thereof in, such jurisdiction or to,
or for the account or benefit of, any North American person or a person in or
resident of Japan.  All SOMI Shareholders not resident in the UK (including
nominees, trustees or custodians who have a contractual or legal obligation
to, or otherwise intend to, forward this announcement to any jurisdiction
outside the UK) should read the further notes in this regard which are
contained in paragraph 8 of Part B and paragraph (d) of Part C of Appendix I
to the Offer Document before taking any action.

Investec Henderson Crosthwaite is a division of Investec Bank (UK) Limited,
which is regulated in the United Kingdom by The Securities and Futures
Authority Limited, is acting for Sportsworld and no one else in connection
with the Offer and will not be responsible to anyone other than Sportsworld
for providing the protections afforded to clients of Investec Henderson
Crosthwaite or for giving advice in relation to the Offer.


END

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