Re Agreement

RNS Number:0801P
Galleon Holdings PLC
27 August 2003



For Immediate Release                                           27th August 2003




               GALLEON HOLDINGS PLC ANNOUNCES LICENSING AGREEMENT
                           WITH CLEONE FOODS LIMITED

         Specialist Chilled Food Manufacturer Joins Licensing Programme


Galleon Holdings plc ('Galleon'), the AIM-quoted, cross-media company today
announces that Birmingham-based specialist chilled food manufacturer, Cleone
Foods Limited ('Cleone'), has signed a licensing agreement for one of the
characters from its children's animation property The Cornish Riviera Pasties.


Cleone is forecasting sales of more than one million units of 'Denzil Skilly'
patties for 2004. It has the sole licensing rights for two years, with first
option to renegotiate thereafter, to use Denzil Skilly in the Jamaican pattie
product segment. .


Denzil Skilly - a fun-loving Jamaican character, with a passion for reggae music
and surfing - has been licensed by Cleone for a new range of Jamaican patties
created to appeal to children.


Cleone, which already has distribution in place for existing products with
Tesco, Asda, Sainsburys, Morrisons, Budgens and Iceland, is currently in the
product development phase for the new range, and expects product in store by Q4
2003.


Jim Driscoll, co-creator of the property and Chairman of Galleon Holdings, said:


"This is a further extension into the children's food sector for us,
complementing the extensive line of products to be launched by Ginsters (a deal
signed on 19th May 2003) in the FMCG sector. Most importantly, the products from
both Cleone and Ginsters will offer a healthier option to kids raised on a diet
of fast foods."


New flavours and ingredients are being market tested to ensure the Denzil Skilly
Jamaican pattie range is a hit with children. Product will be available in three
different sizes - 'snack packs' (3 x 50g patties), 100g individual patties and
food service cartons of 36 unwrapped patties, aimed at Cleone's wholesale and
trade customers, which include pub chains and theme parks. These will be
supplied with Denzil Skilly branded point of sale material.


Wade Lyn, Managing Director at Cleone Foods Limited, said:


"We are very excited about the new range of product. Our patties are popular
sellers in the supermarkets, but we needed to expand our range and look to break
into new markets. Licensing Denzil gives us increased confidence that the new
products being developed will be a hit with our target consumers. Denzil will
also add another dimension to the sales and marketing of the new range."


Jim Driscoll concluded:


"The use of one character - from a cast of more than twenty - demonstrates the
richness and diversity of the cartoon series. We have licensing agreements on
the table for other characters across a range of product sectors, as well as
licences for the series itself. I am confident that Cleone will be successful
with this licence, and I look forward to announcing a succession of other
partnerships over the coming weeks and months."

ENDS




Notes


About Galleon Holdings plc:

Galleon Holdings is a content provider across platforms in multimedia broadcast
and interactive software. The Group's strategy is to build, acquire and own a
significant intellectual property rights' portfolio. The Group combines a number
of companies, which already generate turnover and profit. The Group owns
companies with intellectual property rights in software, animation and new
media. Galleon Holdings plc is a holding company, incorporating Astro Knights
Ltd, Probe Media Ltd, Redeye PR Ltd, Clipper Media Limited and A4 Holdings plc.
It also owns equity interests in two other companies.


About Cleone

Cleone Foods Limited was formed in 1998 and has enjoyed rapid growth over the
past five years. Based in Birmingham, it has grown from a workforce of five to
one of over 30. Cleone specialises in the production of Jamaican patties and is
the acknowledged UK market leader

in that sector. It prides itself on using local, fresh ingredients from a range
of suppliers and its ethnic diversity is evident throughout the company and all
of its operations. Alongside the supermarket distribution agreements it has
deals with wholesale suppliers including Brakes, BDC, Peter's Food Service and
Symbol Buying Groups.

For images of Denzil Skilly and more information regarding this announcement
please contact:

James Driscoll                              Paul Wooding / Natalie Johnson
Chairman                                    MCCInternational
Galleon Holdings Plc                        T: [phone]
T: [phone]                     E: [e-mail]
M: [phone]                     W: www.mccint.com
F: [phone]                     
E: [e-mail]

Wade Lyn                                    Sam Allen
Managing Director                           Binns & Co. PR Ltd
Cleone Foods Limited                        T: [phone]
T: [phone]                      M: [phone]
E: [e-mail]                     F: [phone]
                                            E: [e-mail]



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