Joint Venture with SGI

Yoomedia PLC
24 August 2006


            YooMedia plc / Ticker: YOO / Index: AIM / Sector: Media

24 August 2006
                    YooMedia plc ('YooMedia' or the 'Group')


                     Joint Venture Established With SGI Ltd


YooMedia plc, the AIM-traded interactive media and games group, has signed an
agreement with SGI Ltd ('SGI') to form a new company to exploit the UK and
international interactive TV markets through new forms of participation TV and
gaming.


The 50/50 joint venture, controlled by SGI, will acquire and further utilise
YooMedia's innovative Real Time Messaging System, which allows viewers at home
to participate in programmes and win prizes.  This system has previously been
used by ITV on Who Wants To Be A Millionaire.  In addition, the joint venture
will acquire the rights to Tringo, a game which combines bingo and Tetris, for
use on TV.  Tringo will be developed into a live presented interactive
multiplayer game for TV with cash prizes for the most skilful players.


Venture capital firm SGI is backed by the highly successful entrepreneur Peter
Shalson, who currently controls three channels on Sky.  Under the terms of the
agreement, SGI will capitalise the joint venture with a £1.1m loan.  The joint
venture will acquire the IP and ownership of the Real Time Messaging System and
the Tringo rights for TV from YooMedia for a consideration of £1m to be
satisfied in cash.


YooMedia's Group Managing Director, Neil MacDonald, said:  'This agreement is a
clear indication that our partners have identified a strong market potential for
these and other formats in the digital TV and IPTV markets.  SGI is keen to
further develop the technology within the joint venture and exploit those rights
across digital TV and IPTV.'


                                  * * ENDS * *


Contacts:

YooMedia plc

Neil MacDonald, Group Managing Director

Tel: [phone]


St Brides Media & Finance Ltd

Isabel Crossley

Tel: [phone]


Notes on YooMedia plc:

YooMedia is one of the fastest growing interactive entertainment companies in
the UK.  Essentially, it develops and delivers premium interactive content and
services to households and individuals via TV, the web, telephony and mobile
phones.  It has four main divisions:

•   YooMedia Dating - manages dating brands including Dateline and Avenues from 
    over 20 locations throughout the UK. Operates across traditional media, 
    digital TV, internet and mobile phones.

•   YooMedia Gambling & Games - interactive fixed odds, play for fun casino and 
    poker related games services for digital TV, the web and mobile phones.  
    Brands include Channel 852, operated on behalf of William Hill, and Avago, 
    which was established by YooMedia and is now managed on behalf of Gala Group.

•   YooMedia Interactive Services - delivers interactive content that enhances 
    consumer and audience experiences.  Customers include the BBC, Nestle, 
    Celador, Channel 4, The Cartoon Network, Anheuser Busch, and HR Owen.

•   YooMedia Public Sector - provides digital solutions/media services to 
    leading public sector organisations including the NHS Direct Interactive TV 
    service, the Learning and Skills Council TV Kickstart service and a range of 
    local authority TV services.


The Group's experienced management team includes: Chairman, Dr. Michael
Sinclair, who holds a number of directorships in both the UK and the USA having
previously founded Lifetime Corporation; and Managing Director, Neil MacDonald,
whose career spans 11 years in multimedia and interactive sectors plus a further
19 years in the retail industry.


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