Statement re Acquisition

Catalyst Media Group PLC
28 July 2004


For immediate release

28 July 2004

                            CATALYST MEDIA GROUP PLC

                      Statement re: potential acquisition


The directors of Catalyst Media Group plc ('the Company') announced on 6 May
2004 that the Company had been granted a period of exclusivity until 28 July
2004 by United Business Media plc ('UBM') to purchase UBM's 20 per cent. Stake
in Satellite Information Services Holdings Limited ('SIS').

The Company's share price closed at 27.75p on 5 May 2004. During the following
11 week period the share price experienced considerable volatility, closing as
high as 30.25p on 6 May 2004 and as low as 15p on 23 July 2004. The share price
at close of business on 27 July 2004 was 18.5p.

This level of volatility during a significant fundraising has made it very
difficult to conclude a transaction within the original exclusivity period and
consequently the directors of the Company ('the Directors') announce today that
they have not been able to complete the acquisition of UBM's stake in SIS within
the planned timescale.

The Directors fundamentally believe in the merits of the transaction both for
the Company and its shareholders and will continue their discussions with UBM in
an attempt to agree a new basis of progressing the transaction.  There can be no
assurance that these discussions will lead to the Company completing the
acquisition of UBM's stake in SIS. Should the transaction proceed, the Directors
will endeavour to minimise the dilutive effect on shareholders through the use
of debt and other non- equity structures.

As reflected in the interim results of the Company released on 1 July 2004,
trading remains in line with market expectations.

The Company also announces today that Durlacher Limited has served notice of its
resignation as the Company's Nominated Adviser and Broker. A further
announcement concerning the Company's appointment of a new Nominated Adviser and
Broker will be made in due course.


Further information:

PJ Duffen
CEO - Catalyst Media Group plc - 0207 927 6699



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