SPORTECH PLC ACQUIRES ZETTERS

Sportech PLC 14 August 2002 SPORTECH PLC ACQUIRES ZETTERS FOOTBALL POOLS Sportech plc, ('Sportech' or 'the Company'), the home gaming company and owner of the Littlewoods gaming and betting brands, today announces the acquisition of the Football Pools business of Zetters International Pools Ltd, a subsidiary of Zetters Group plc, for £1.35m. As at completion it is estimated that the net assets of the Zetters Football Pools business will be £0.2m, including £0.7m of cash. Zetters Football Pools generated operating profit of £0.6m, before exceptional items, on turnover of £6.1m in the 12 month period to March 31st 2002. Sportech plc is to fund the purchase, which is payable in cash, from existing banking facilities. The acquisition further consolidates the Pools business in the UK, and brings 60,000 new home gamers into the Sportech fold. Sportech will retain the Zetters branded offer, providing a greater choice of complementary products to its customers and the opportunity to cross-sell Sportech's portfolio of gaming products to an enlarged customer base. Sportech will seek to achieve operational synergies between its existing Littlewoods Football Pools operation and the Zetters Football Pools business. In addition, Sportech, through its subsidiary Littlewoods Promotions Limited, will enter into a separate agreement with IFX Ltd, the principal trading subsidiary of Zetters Group plc, whereby Littlewoods Bet Direct sports betting service will be promoted to IFX's 10,000 customers, and IFX's financial spread-betting and fixed odds products will be promoted to Littlewoods Bet Direct's 260,000 customers. Colin McGill, Managing Director of Sportech comments: 'Zetters Football Pools business is a natural fit within Sportech's stable of gaming and betting products. We are confident that the acquisition of Zetters Football Pools and the joint marketing agreement with IFX will deliver value to shareholders and, by increasing our customer base, offers further opportunity to build revenues in the future. We welcome all Zetters Football Pools customers and are sure that we will be able to offer them an ever increasing range of innovative and entertaining gaming and betting opportunities.' Further information will be available within the Sportech Interim Announcement to be issued on Monday, 16 September 2002. - ends - Enquiries Sportech plc * Suzanne Judge, Corporate Communications, Sportech, 0151 288 3059 * Charles Reynolds, Bell Pottinger Financial, 020 7861 3232 Zetters Group plc * Graham Wellesley, Chief Executive, +44 20 7890 8990 * Peter Curtain / Julian Bosdet, Bankside, +44 20 7444 4140 / +44 7733 301707 Notes to editors * Sportech plc is the UK's leading home gaming company, providing a variety of betting and gaming opportunities to customers through its wholly owned portfolio of Littlewoods betting and gaming brands. Sportech is developing its business through the utilisation of new channels of distribution to bring more games to more players in the home, capitalising on the strength of the Littlewoods brand, namely its association with the values of trust and integrity. * Zetters Group plc, which on May 30 announced its intention to change its name to IFX Group plc, is a leading financial services company focused on the international financial markets. On May 20 it acquired Financial Spreads, the financial spread-betting company. Zetters' pools business is not considered a core business and the directors have no intention of expanding the company's operations in the sporting field. This information is provided by RNS The company news service from the London Stock Exchange

Companies

Sportech (SPO)
UK 100

Latest directors dealings