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Forever Broadcast (FOB)

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Friday 25 January, 2002

Forever Broadcast

AGM Statement

Forever Broadcasting PLC
25 January 2002


25 January 2002


FOREVER BROADCASTING PLC

ANNUAL GENERAL MEETING


At the Annual General meeting held at 12 noon today the Chairman, John Josephs,
said:

2001 was a year in which Forever Broadcasting plc made considerable progress,
which is continuing.

The Juice brand is now operating in both Liverpool and Brighton and is proving
popular with audiences in both cities. We remain confident in the appeal of
Juice and have submitted an application for a licence in Reading with this
format, which we are also using in our applications for licences for the East
Midlands and for Oxford, to be submitted next month.

In addition to the Juice applications, we have also submitted an application
based on a different format for a new licence in Chester and have a 35% interest
in an application for a new licence for Worthing, which will also be submitted
next month.

In line with our strategy we continue to look for further acquisition
opportunities.

We have remained insulated to some extent from the widely-reported decline in
national advertising as the majority of our turnover is derived from local
advertising, which has been less exposed to the downturn in the economy, and
because we are developing revenues in our stations from a low base.

Although January has been slower than expected, we continue to demonstrate
strong year-on-year growth. At today's date like-for-like revenues for the first
four months to 31 January 2002 are 47% higher than in the same period of the
year to 30 September 2001. We expect that all five stations will make
considerable progress towards profitability this year and look forward to the
future with confidence.



Enquiries:
Forever Broadcasting
John Josephs, Chairman
Eric Lawrence, Managing Director                    Tel: 0191 286 0000

Merlin Financial Communications

David Simonson / Nicola Davidson                     Tel: 020 7606 1244

                                                    E-mail: [email protected]


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


                                                                            

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