Acquisition

Future Network PLC 11 March 2003 11 March 2003 THE FUTURE NETWORK PLC Proposed acquisition of computer games magazines in France The Future Network plc ('Future'), the international consumer magazine Group, today announces that it has agreed to purchase a subsidiary of Hachette Filipacchi Presse S.A. in France, Hachette Digital Presse S.A. ('HDP'), for £3.5m payable in cash, which will be met from Future's existing cash resources. The computer games magazines to be acquired are Official PlayStation 2 Magazine, Joystick and Joypad. DVD Magazine is also included in the acquisition. The transaction is subject to clearance by the competition authorities in France. HDP was previously owned by Hachette Filipacchi Presse S.A., which, following this transaction, will no longer publish any computer games magazines. Turnover for the year ended 31 December 2002 generated by HDP was £8.2m and the results for that year produced a pre-tax loss of £19,000. As at 31 December 2002 its net assets amounted to £22,000. Commenting on the transaction, Greg Ingham, Future's Chief Executive, said: 'The proposed transaction is subject to regulatory approval. If successful, we will be pleased to have made this bolt-on acquisition in one of our core markets of computer games. We have admired these titles as competitors for many years: they will be a very welcome addition to our French portfolio.' Enquiries: The Future Network plc Greg Ingham, Chief Executive Tel: 01225 442244 John Bowman, Finance Director Hogarth Partnership James Longfield/Georgina Briscoe Tel: 020 7357 9477 This information is provided by RNS The company news service from the London Stock Exchange

Companies

Future (FUTR)
UK 100

Latest directors dealings