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West 175 Media Grp (WEP)

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Friday 15 March, 2002

West 175 Media Grp

Loan Agreement

West 175 Media Group Inc
15 March 2002



For release

                                                  15 March 2002


                           WEST 175 MEDIA GROUP INC.


                                   Loan Agreement



West 175 Media Group Inc. ('West 175'), the media group listed on AIM, announces
that its wholly-owned subsidiary, West 175 Media (NZ) Limited ('West NZ'), has
today entered into an agreement with John McEwen, the Chairman and founding
Chief Executive of West 175, pursuant to which John McEwen has made a loan to
West NZ of NZ$1,000,000 (equivalent to approximately £303,000).



The loan bears interest at 3% above the rate of interest charged to the lender
and is repayable on or before 30th September, 2002. The loan is secured on the
assets of West 175 Media (NZ) Limited.



The loan is to be used for the purpose of additional working capital in New
Zealand pending the sale of certain of the group's interests in New Zealand.



Having consulted with Beeson Gregory Limited, nominated advisor to West 175, the
independent directors consider that the terms of the transaction are fair and
reasonable and in the best interests of West 175 shareholders as a whole.



ENDS



For further information please contact:



West 175 Media Group, Inc

John McEwen, Chairman & Chief Executive Officer

Tel:  020 7478 5160



Binns & Co PR

Peter Binns

Tel:  020 7786 9600



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