RNS No 8509k
SPORTSWORLD MEDIA GROUP PLC
2 July 1999


Sportsworld Media Group plc ("Sportsworld" or "the Company")

Sportsworld announces that, on 30 June 1999, the High Court of Justice,
Chancery Division, confirmed the reduction of capital of Sportsworld approved
by shareholders at an extraordinary general meeting of the Company held on 9
December 1998. The reduction relates to the cancellation of deferred shares
arising upon the share consolidation approved at that meeting. The credit
arising on the cancellation of the deferred shares will be used to eliminate
the accumulated deficit on the Company's profit and loss account. The
elimination of such deficit will enable the directors to recommend the payment
of a dividend out of future profits should they consider that circumstances
then warrant.


END

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