Acceptances exceed 90%

RNS Number:5808K
Stonesthrow Media Limited
30 April 2003


FOR IMMEDIATE RELEASE                                              30 April 2003


                             RECOMMENDED CASH OFFER

                                       by

                 BEAUMONT CORNISH LIMITED ("BEAUMONT CORNISH")

                                  on behalf of

                       STONESTHROW MEDIA LIMITED ("STM")

                                   to acquire

                         CHANNELFLY PLC ("CHANNELFLY")



This announcement is not for release, publication or distribution in whole or in
    part, in or into the United States, Canada, Australia, Japan or Ireland.

                             Acceptances exceed 90%

On 3 April 2003, Beaumont Cornish made a recommended offer on behalf of STM to
acquire the entire issued share capital of Channelfly.

Valid acceptances have now been received in excess of 90% of the total issued
share capital of Channelfly. Accordingly STM announces that it has today begun
the process of acquiring on a compulsory basis all of the remaining Channelfly
shares in issue under the provisions of Sections 428 to 430F of the Companies
Act.

It is intended that the listing of Channelfly's shares on AIM will be cancelled
with effect from 8.00 AM on Thursday 1 May 2003.

The Offer has been extended by STM and will remain open until further notice.
The Share Alternative will remain open for acceptance for so long as the Offer
remains open.

Channelfly Shareholders who wish to accept the Offer, and who have not done so,
should return their Form of Acceptance as soon as possible to Capita IRG Plc,
Corporate Actions, PO Box 166, The Registry, Beckenham, Kent, BR3 4TH.
Additional Forms of Acceptance are available from this address or by telephoning
Capital IRG plc on 0870 162 3100.

Terms defined in the Offer Document dated 3 April 2003 have the same meaning in
this announcement unless the context otherwise requires.



Enquiries:     Roland Cornish

               Beaumont Cornish Limited     020 7628 3396

               Felicity Geidt

               Beaumont Cornish Limited     020 7628 3396


The availability of the Offer to persons not resident in the UK may be affected
by the laws of the relevant jurisdiction. Persons who are not resident in the UK
should inform themselves about and observe any applicable requirements before
taking any action in relation to the Offer.

This announcement does not constitute an offer or invitation to purchase any
securities. The Offer is not being made directly or indirectly, in or into, or
by use of the mails of, or by any other means or instrumentality (including,
without limitation, facsimile transmission or telephone) of interstate or
foreign commerce of, or any facilities of a national securities exchange of the
United States, Canada, Australia, Japan or Ireland and will not be capable of
acceptance by any such use, means instrumentality or facilities or within the
United States, Canada, Australia, Japan or Ireland. Accordingly, copies of this
announcement are not being, and must not be, mailed or otherwise distributed or
sent in or into or from the United States, Canada, Australia, Japan or Ireland.

The STM Directors accept responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the STM Directors (who
have taken all reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.

Beaumont Cornish Limited, which is regulated by the Financial Services
Authority, is acting exclusively for STM and no one else in connection with the
Offer and will not be responsible to anyone other than STM for providing the
protections afforded to customers of Beaumont Cornish Limited for providing
advice in relation to the Offer. This announcement has been approved for the
purposes of Section 21 of the Financial Services and Markets Act 2000 by
Beaumont Cornish Limited of Georgian House, 63 Coleman Street, London EC2R 5BB.


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