TransMedia Group Corrects Misstatements Made in April 9, 2008 Press Release That it Issued on Behalf of Pompano Helicopters

BOCO RATON, Fla., Oct. 23  /PRNewswire/ -- TransMedia Group issues this press release for the purpose of correcting certain inadvertent misstatements that it made in a prior release dated April 9, 2008, issued on behalf of Pompano Helicopters, Inc.

The April 9 release purported to summarize a decision issued by United States District Judge William Zloch on a motion to dismiss a Complaint filed against Westwood One, Inc. (NYSE:WON) by Pompano Helicopters.  Judge Zloch's decision found that three of the Complaint's seven counts were barred by the statute of limitations, and invited a renewed motion to dispose of the remaining four counts after a factual record was developed in discovery that would allow a statute-of-limitations analysis for those claims as well.

The April 9 release incorrectly stated that Judge Zloch had found "sufficient cause" for the case to "proceed to trial."  As a decision on a motion to dismiss, Judge Zloch's decision was limited to assessing whether the Complaint stated a claim for relief, assuming its allegations to be true, such that the case could proceed into the discovery phase of litigation.  The decision did not represent a finding of sufficient cause for trial.

The April 9 release incorrectly stated that Pompano sought damages of "over $400 million, which would exceed Westwood's current market capitalization."  Nothing in the Complaint suggest damages approaching this magnitude.  In fact, the Complaint alleges that Pompano Helicopter's entire business was worth only $6 million, and Judge Zloch dismissed the claim pursuant to which Pompano Helicopters sought such damages.

TransMedia Group apologies for the confusion and misunderstanding that the April 9 release may have caused, and notes that the April 9 release had been reviewed and approved by Pompano Helicopters' representatives.

  CONTACT:
  Glen Calder
  TransMedia Group
  [phone], x 216
  

DATASOURCE: TransMedia Group



CONTACT:  Glen Calder of TransMedia Group, [phone], x 216,

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