Acquisition

Milestone Group PLC
03 November 2003


Immediate Release                                               3 November 2003



                                MILESTONE GROUP
           COMPLETION OF SIX TV MINORITY SHAREHOLDINGS CONSOLIDATION


Milestone Group PLC ('Milestone' or 'the Company'), the AIM-listed cross-media
group, today announces that it has completed the acquisition of 100% of the
issued share capital which it did not already own of Oxford Broadcasting
Limited, trading as SIX TV The Oxford Channel ('SIX TV'). Milestone previously
had a 90.74% shareholding in SIX TV.


At the closing date for Milestone's offer (31st October 2003) the Company had
received acceptances from SIX TV shareholders representing approximately 8% of
the issued share capital of SIX TV. Milestone has invoked the compulsory
acquisition provisions in the articles of association of SIX TV to acquire the
remaining 2% of outstanding shares in SIX TV which it does not already own. In
total, this represents approximately 1.167 per cent. of the newly enlarged
issued ordinary share capital of the Company.


The consideration for the acquisition of the SIX TV minority interests has been
satisfied by the issue of 255,119 new ordinary shares of 10p each in Milestone
and application has been made for admission of such shares to trading on AIM. It
is anticipated that admission to trading will become effective and first
dealings will commence on 7th November 2003. The shares have been issued
credited as fully paid and will rank pari passu in all respects with the
existing Milestone shares.


The former SIX TV shareholders who voluntarily accepted the offer from Milestone
have undertaken (subject to limited exceptions) not to dispose of any Milestone
shares allotted to him/her pursuant to the offer until 1 July 2004.


Milestone Group Chief Executive, Andy Craig, said:


'SIX TV's current programme of ongoing independent research into its audience
indicate to us that the channel is establishing itself as a successful part of
Oxfordshire's media landscape, with initial figures showing a daily audience of
19 per cent of those surveyed . With Milestone now owning 100 per cent of SIX TV
we will continue to develop our tri-media model in Oxfordshire providing
innovative and compelling advertising opportunities for clients alongside our
publishing and radio interests in the area.'


For further information please contact:

Milestone Group PLC                                           Tel: [phone]
Daniel Cass

Buchanan Communications                                      Tel: [phone]
Bobby Morse / James Strong


                                      ENDS


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