Update re 2001 Results

World Sport Group PLC
28 June 2002



Date:               28 June 2002

On behalf of:       World Sport Group plc

Embargoed until:    0730hrs



WORLD SPORT GROUP

Update on 2001 Accounts

The Board of World Sport Group, the sports media, marketing and management
group, announces that the Company's report and accounts for the period ended 31
December 2001 have not yet been finalised.

The Company today has reached agreement with its joint venture partner, News
Corporation, for the sale of World Sport Group's interest in Global Cricket
Corporation Pte Ltd. The terms include a number of retrospective financial
elements that will now need to be incorporated in the Company's 2001 financial
accounts.

The Company also confirms that it is finalising a fund raising package in which
the Executive Directors, who are major shareholders, will substantially
participate. This will provide the further working capital required to develop
its core Asian business and to strengthen the Company's balance sheet.

Full details of the disposal to News Corporation, the fund raising and the
Company's final results for the year ended 31 December 2001, will be announced
as soon as possible in July when these agreements will have been fully
incorporated into the 2001 accounts.


Enquiries to:

Emma Kane, Chief Executive             Tel: [phone]

Redleaf Communications Ltd             Mob: [phone]

Richard Feigen or Jonathan Wright      Tel: [phone]

Seymour Pierce Limited

Notes to Editors


  • Global Cricket Corporation Pte Ltd ('GCC') was the 50:50 joint venture
    vehicle between News Corp and Worldsport Nimbus (a 50:50 joint venture
    between World Sport Group and Nimbus Communications, an Indian media and
    sports marketing company). This specially formed company is the owner of the
    commercial and media rights to all ICC international cricket events until
    mid 2007, including the next two World Cups in 2003 (South Africa) and 2007
    (West Indies).


  • World Sport Group plc (WSG) listed on AIM on 15 August 2001 following the
    reverse takeover of Orchard Furniture plc by the combined businesses of
    World Sport Group Limited and Parallel Media Group International Limited.


  • The Company offers a full one-stop shop for advertisers and sponsors:
    television programming, airtime sales, outdoor marketing opportunities,
    Internet services, exposure in print publications and bespoke event
    management plus sponsorship in football, cricket, rugby and golf.


  • WSG's ownership of media and marketing rights includes the Asian
    Professional Golfers' Association (Asian PGA) for 90 years and rights to the
    Asian Football Confederation (AFC) events until 2013.

                                    - ends -







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