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Paradigm Media (PAR)

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Tuesday 08 April, 2003

Paradigm Media

Notice of EGM

Paradigm Media Investments PLC
08 April 2003



                         Paradigm Media Investments PLC

   POSTING OF CIRCULAR PROPOSING WINDING UP OF PARADIGM MEDIA INVESTMENTS PLC
                               AND NOTICE OF EGM

London, 8 April 2003 - On 26 March 2003, Paradigm Media Investments PLC
('Paradigm' or 'the Company') announced the decision by the Board to recommend
to shareholders a voluntary winding up of the Company.   The Company is today
posting a circular to shareholders proposing the winding up and giving notice of
an Extraordinary General Meeting to take place at 4.30 p.m. on 6 May 2003 to
consider the resolutions to liquidate the Company and to appoint Jeremy Spratt
and Stephen Treharne of KPMG LLP as liquidators.


Details of the Proposal


Subject to the passing of the resolutions, on 6 May 2003 the Company will be
placed into members'

voluntary liquidation. After providing for all the Company's outstanding
liabilities, the Company's assets will be distributed by the liquidators to
shareholders and to warrantholders according to their entitlements under the
Company's Articles of Association and under the Warrant Instrument. It is
anticipated that the liquidators will be able to make a first distribution to
Shareholders, of an estimated 4.5 to 5.0 pence per Share, approximately 6 weeks
after their appointment. The liquidators will then require a further period of
time, estimated to be between three and six months, before they will be able to
make a final payment to shareholders.


The Directors estimate the cost of liquidation to be approximately £110,000.

It is estimated that the total payment to Shareholders will be approximately 5.1
pence per share.


Dealings in the Company's shares are expected to be suspended with effect from
8.00 a.m. on 7 May 2003 and the shares will be delisted thereafter.


Financial position of the Company


As at 31 March 2003, the Company had assets (represented by cash at bank) of
approximately £8.4 million of which approximately £460,000 represented retained
earnings, and the Company had liabilities of approximately £120,000.  During the
3 month period to 31 March 2003 the Company made a pre-tax loss of approximately
£30,000, reflecting the reduced interest earned on the lower cash balance
following the repayment of capital in February 2003 and the expenses incurred by
it in connection with the cancellation of a proportion of the Company's shares
at that time.



SHAREHOLDERS SHOULD NOTE THAT BOTH THE TIMINGS AND ESTIMATES OF PAYMENTS SET OUT
ABOVE ARE ESTIMATES AND THAT THE FINAL TOTAL PAYMENT MAY BE LOWER AND THE TIME
TAKEN TO ACHIEVE THIS MAY BE LONGER THAN ESTIMATED.





Enquiries:


Paradigm Media Investments PLC:

Bertrand Lipworth, Executive Director                    Tel: 020 7235 1005
Christina Kennedy, Company Secretary                     Tel: 01295 690180




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

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