Acquisition

CSS Stellar PLC 18 September 2002 18 September 2002 CSS Stellar plc Investment in North American golf businesses. The Board of CSS Stellar plc ('CSS Stellar' or the 'Group') is pleased to announce the acquisition of a 30 per cent. interest in Dallas, Texas based golf agency Hambric Sports Management ('Hambric') and a 50 percent interest in StandOut Sports and Entertainment ('StandOut'). Consideration for both investments is a total of $1,474,000 (£951,000), comprising cash of $465,000 (£300,000) and loans and working capital of $700,000 (£452,000) and the issue of 160,000 Ordinary Shares of 50p each in CSS Stellar ('Ordinary Shares') at a price of 124.6p per Ordinary Share. The Board does not expect the transactions to contribute to earnings in 2002. Hambric was formed just over two years ago and has already become one of North America's leading golf management companies. Currently, the firm manages the careers of PGA stars Justin Leonard, Bob Tway, Steve Flesch, Bob Estes, and LPGA rookie sensation Lorena Ochoa. As part of the Hambric deal, Rocky Hambric (who has more than twenty years experience in the golf representation industry) will become the overall CEO of CSS Stellar's Golf client division, leading the company's efforts in both North America and Europe. StandOut, also based in Dallas, Texas, oversees sponsorship packaging, sales management and corporate campaigns and organises events for a number of corporate clients. These include AT&T Wireless and Palm. The partnership between CSS Stellar and StandOut and will combine the sponsorship and corporate marketing programs of the two companies to plan, manage and execute golf marketing efforts for a number of corporate clients in North America. Julian Jakobi, CEO of CSS Stellar commented: 'The investment we are making today in Hambric Sports Management and StandOut Sports and Entertainment significantly strengthens our position in the global golf community, an area in which we have spent a significant amount of time seeking the right partner in the USA. Rocky will be instrumental in our plan to grow our golf business in Europe and our corporate resources will help him strengthen Hambric Sports Management in North America.' Listing Application Application will be made for the 160,000 Ordinary Shares now being issued to be admitted to AIM. Admission of the Ordinary Shares is expected and dealings are expected to commence on 23 September 2002. Enquiries: CSS Stellar plc 020 7078 1400 Julian Jakobi, Chief Executive Sean Kelly, Finance Director and Deputy Chief Executive Weber Shandwick Square Mile 020 7950 2800 Ben Padovan or Sally Lewis This information is provided by RNS The company news service from the London Stock Exchange
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