Result of Open Offer

Catalyst Media Group PLC
03 April 2007


3 April 2007

                            Catalyst Media Group plc
                         ('Catalyst' or 'the Company')

                              Result of Open Offer

On 12 March 2007 the Company announced a placing and open offer of 2,100,000,000
new ordinary shares of 0.1p each ('New Ordinary Shares') to be subscribed for at
a price of 0.5p per New Ordinary Share to raise £10.5 million before expenses.
Of the New Ordinary Shares, 801,236,844 were placed firm. Of the 1,298,763,156
Open Offer Shares to be issued pursuant to the Open Offer, 617,488,975 of the
Open Offer Shares were the subject of irrevocable undertakings from certain
Qualifying Shareholders to take up entitlements. The balance of 681,274,181 Open
Offer Shares was conditionally placed with institutional and other investors
subject to clawback to satisfy valid applications under the Open Offer.

The Open Offer closed at 11.00 a.m. on 2 April 2007. Valid applications were
received in respect of 1,026,445,172 Open Offer Shares representing 79.03 per
cent. of the Open Offer Shares. The balance of the Open Offer Shares will be
taken up by the Placees under the terms of the Placing Letters. The Placing and
the Open Offer remain conditional, inter alia, upon the passing of the
Resolution to be proposed at the EGM to be held on 4 April 2007 and on
Admission.

Application has been made to the London Stock Exchange for admission of the
2,100,000,000 New Ordinary Shares to trading on AIM. It is expected that
Admission will become effective and that dealings in the New Ordinary Shares
will commence on 5 April 2007.

Unless the context otherwise requires, defined terms used in this announcement
shall have the meanings given to them in the Prospectus of the Company dated 12
March 2007.

Enquiries, please contact:
Catalyst Media Group plc
Michael Rosenberg
Tel: [phone]

Strand Partners
James Harris/Angela Peace
Tel: [phone]

Evolution
Tom Price/Hui Ling Tay
Tel: [phone]




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