SWD Sportsworld

RNS Number:9120C
Sportsworld Media Group PLC
1 May 2001


This announcement replaces RNS no. 8998C released at 07.23 on 1 May 2001,
incorrect information being in paragraph one "three financial years ending 31
December 2003, payable in a combination of cash and Sportsworld ordinary
shares of 1p each".  The correct information should read "two financial years
ending 30 June 2003, payable in Sportsworld shares."


1 May 2001



SPORTSWORLD BECOMES ONE OF THE LARGEST AUSTRALIAN SPORTS

MARKETING COMPANIES WITH ACQUISITION OF ELITE SPORTS PROPERTIES


Sportsworld Media Group plc ("Sportsworld"), the brand-focused, sports and
lifestyle content company, announced today the acquisition of Melbourne-based
Elite Sports Properties Limited ("ESP") for an initial cash consideration of
approximately AUS$17.5m (approximately #6.1m). Further deferred consideration,
up to a maximum of AUS$23.0m (approximately #8.1m), may become payable,
depending upon the net profits of ESP, over the two financial years ending 30
June 2003, payable in Sportsworld shares. ESP is expected to be earnings
enhancing in its first full year of ownership.

In the year ended 31 December 2000, ESP produced a profit before tax of
AUS$4.0m (approximately #1.4m) on revenues of AUS$7.6m (approximately #2.6m),
representing 74% and 24% respective increases over the previous year. The net
assets being acquired total AUS$7.75m (approximately #2.7m).

ESP specialises in athlete management, licensed product, live entertainment,
promotions and related intellectual property - as such it is highly
complementary to Sportsworld and its activities worldwide and in Australia.
Since its establishment in 1996, ESP has become a significant player in the
sports marketing business in Australia with key operations in:

*        Athlete Management - managing over 20 current Olympic, World and
Commonwealth champions, including some of Australia's highest profile
Olympians such as Michael Klim and Susie O'Neill, along with Olympic legends
such as Mark Spitz and Shane Gould. The majority of ESP's contracts in this
area run for 3-4 years.

*        Football Management - managing appearances, speaking engagements,
endorsements, licensing and sponsorships for many of the most prestigious
Australian Football League (AFL) players, including Chris Grant, Peter Everitt
and Shane Crawford. Shane and Peter are household names in Australia and are
contracted by Channel 9 to appear regularly as panellists on the top-rating
programme, The Footy Show.

*        Licensing - managing the master license and royalties for AFL, the
Sir Donald Bradman Foundation, ESP Athletes and Sydney Organising Committee of
the Olympic Games (SOCOG) Memorabilia.

*        Events - managing events including the AFL Grand Final Village and
Golf Days.

*        Direct Sales - sports memorabilia and merchandise development, design
and marketing direct to consumers


Sportsworld has already worked with ESP on the creation of The Big Screen
Footy Show - an in-match screen which combines live edits, instant replays,
presenter analysis and features - illustrating the complementarity of the two
businesses and the combination of ESP's portfolio of athletes and AFL
relationship with Sportsworld's production and media sales capabilities.

ESP complements Sportsworld's sports marketing subsidiary in Melbourne, IMS,
which the Group acquired in November for AUS$850,000 (approximately #300,000).
Like ESP, IMS manages and provides athletes for sponsorship opportunities and
events, as well as managing their professional development, the latest of
which is top Australian surfer, Taj Burrow. The acquisition of ESP will
provide further opportunities to create cross-selling opportunities between
Sportsworld's Australian operations.

Application will be made in due course, to the United Kingdom Listing
Authority ("UKLA") and the London Stock Exchange, for admission of any new
ordinary shares due as deferred consideration to the Official List of the UKLA
and the London Stock Exchange's markets for listed securities.

Commenting on the acquisition, Geoff Brown, Chief Executive of Sportsworld
said:

"This acquisition makes Sportsworld one of the largest sports marketing
companies in Australia and provides us with further opportunities to
cross-promote our activities in a nation which places high value on its
sporting heroes. The synergies between our existing businesses and ESP are
clearly evident, and we look forward to further developing our Australian
business.

"The purchase is in line with our focused acquisition strategy of developing a
portfolio of sports and lifestyle related media and marketing properties.

"As we indicated at our interim results in March, first half momentum is
continuing into the second. Third quarter business has continued to grow
strongly, and we expect trading to continue in line with expectations. New
opportunities continue to present themselves, and we have a number of exciting
projects under development as the Group builds upon its current television
content, sports marketing and youth lifestyle interests. We continue to be
confident of a successful outcome for the full year."



                                   - ENDS -



Notes to Editors:

Photographs for the media are available at newscast online -
www.newscast.co.uk.

Tel: 020 7608 1000.


Enquiries:


Geoff Brown, Chief Executive
Sportsworld Media Group plc                                 Tel: 020 7240 9626


Tim Spratt / Tania Wild
Financial Dynamics                                          Tel: 020 7831 3113

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