Facilities Supply Agreement

RNS Number : 2850D

Milestone Group PLC

12 September 2008

 

12 September 2008

MILESTONE GROUP PLC

FACILITIES SUPPLY AGREEMENT

AIM listed Milestone Group PLC ('Milestone' or the 'Company') announces its wholly-owned subsidiary, Oxford Broadcasting Limited, has entered into an agreement to provide television production facilities to Enrich Social Productions Limited ('ESP').

ESP will have access to the studio facilities of Oxford Broadcasting Limited ('The Oxford Studios'), in order to create video content for its 1Click2Fame platform. 1Click2Fame is a new UK-based talent search website due to launch beta trials in autumn 2009.

The agreement with ESP is expected to provide an initial income to The Oxford Studios of £120,000 between now and December 2009.

Milestone Chief Executive, Deborah White, said:

'This agreement is intended to provide a substantial new income stream to Milestone's studios which have been underutilised for some time. We look forward to providing excellent facilities to ESP and are now actively exploring further opportunities to fund and develop both the existing television operation and new business ventures in the new financial year.'

For further information:

Milestone

Deborah White, CEO                                020 7648 1043

Arden Partners plc

Richard Day                                              020 7398 1632

 

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