Placing and Issue of Equity

2 March 2011

                                 MediaZest Plc                                 

                    ("MediaZest" or the "Company"; AIM:MDZ)                    

    Share Placing, Issue of Equity and Proposed Conversion of Debt to Equity    

Share Placing and Issue of Equity

MediaZest, the creative digital out-of-home advertising company and
audio-visual integrator, is pleased to announce a share placing (the "Placing")
of 80,000,000 new ordinary shares of 0.1 pence each in the capital of the
Company ("New Ordinary Shares") at a price of 0.55 pence per share.

The gross proceeds of the Placing are £440,000 which will be used by the
Company to provide additional working capital and to finance the continued
growth of the Company's existing operations.

1,454,545 of the New Ordinary Shares were taken up by a Director of the
Company, details of which are as follows:

Director          No. of New        No. of Ordinary    % of issued share
                  Ordinary Shares   Shares held        capital held     
                                    following the      following the    
                                    Placing            Placing          
                                                                        
Lance O'Neill,    1,454,545         6,638,666          2.7%             
                                                                        
Chairman                                                                

The issue of New Ordinary Shares to Lance O'Neill is a Related Party
Transaction for the purpose of AIM Rule 13.

Pursuant to AIM Rule 13, the Directors (other than Lance O'Neill) consider,
having consulted with Northland Capital Partners Limited, the Company's
Nominated Adviser, that the terms of the Related Party Transaction with Mr
O'Neill are fair and reasonable insofar as the Company's shareholders are
concerned.

The New Ordinary Shares which have been issued will represent approximately
32.31 per cent. of the Company's enlarged issued share capital immediately
following the Placing.

Application has been made for the New Ordinary Shares to be admitted to trading
on AIM. It is expected that Admission will be effective and that dealings in
the shares will commence on Tuesday 8 March 2011.

The New Ordinary Shares will rank pari passu with the existing Ordinary Shares.

The Company's enlarged share capital immediately following the issue of the New
Ordinary Shares will be 247,625,327 Ordinary Shares. There are no shares held
in Treasury. The figure of 247,625,327 may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the Disclosure and Transparency Rules.

Proposed Conversion of Debt to Equity

The Company is also pleased to announce that it has received notice from City
and Claremont Capital Assets Limited requesting that an existing loan to the
Company of £90,000 be converted into ordinary shares of 0.1 pence ("Conversion
Shares") at a price of 0.55 pence per share. The issue of the Conversion Shares
will require shareholders' approval to renew Directors' authorities to
generally allot shares and specifically to allot and issue the Conversion
Shares. A notice convening a General Meeting of the Company, at which
resolutions approving such authorities will be proposed, will be despatched to
Shareholders shortly.

Contact:

Geoff Robertson, Chief Executive                  020 7724 5680             
Officer                                                                     
                                                                            
MediaZest Plc                                                               
                                                                            
Stuart Lane / Rod Venables                        020 7492 4750             
                                                                            
Northland Capital Partners Limited                                          
                                                                            
(Nominated Adviser)                                                         
                                                                            
Claire Noyce                                      020 7947 4350             
                                                                            
Hybridan LLP                                                                
                                                                            
(Broker)