Disposal

Milestone Group PLC
18 December 2003

For Immediate Release                                Thursday 18th December 2003


                              MILESTONE GROUP PLC
                                      
                  ANNOUNCES DISPOSAL OF TIME FM AND FUSION 107.3


Milestone Group PLC ('Milestone' or 'the Group'), the AIM listed cross-media
group, today announces it has entered into an agreement to sell the entire
issued share capitals of its two wholly-owned radio stations in South East
London, Time FM 106.8 Limited ('Time') and Fusion 107.3 FM Limited ('Fusion'),
to Sunrise Radio Limited ('Sunrise') for an aggregate cash consideration of
£1,250,000. The companies will be sold free of bank or parent Group debts.

The transfer of ownership will complete on 15 January 2004 following the
enactment of new local ownership regulations that will enable Sunrise to own the
two stations together with its existing radio interests in London.

Andy Craig, Chief Executive of Milestone, said:

'Time and Fusion are both good brands that are still in the early stages of
their development. However, they are in areas that are not core to the Group
and, by realising these assets, we will be able to focus on our principal
strategy outlined at the time of our IPO of developing local media advertising
opportunities in distinct communities outside of the Capital.'

The audited financial statements of Time show that, in the year ending September
30 2003, the company incurred losses of £295,909 on a turnover of £242,045. The
audited financial statements of Fusion show that, in the year-ending 30
September 2003, the company incurred losses of £361,918, on a turnover of
£99,842.

The aggregate consideration, which is split equally between Time and Fusion,
will be paid to Milestone in full by 31 March 2004 with at least 50 per cent.
being paid at completion on 15 January 2004. The proceeds will be used for the
general working capital purposes of the Group.


For further information:

Milestone Group PLC                                          Tel: [phone]
Daniel Cass

Buchanan Communications                                      Tel: [phone]
Bobby Morse




                      This information is provided by RNS
            The company news service from the London Stock Exchange