Result of EGM

RNS Number:7826K
Paradigm Media Investments PLC
07 May 2003

                           PARADIGM MEDIA INVESTMENTS PLC

                                   RESULTS OF EGM

London, 7 May 2003 - At the Extraordinary General Meeting held yesterday, 6 May
2003 Paradigm Media Investments PLC ('the Company') passed resolutions to enter
into members' voluntary liquidation (solvent liquidation) and appoint Jeremy
Spratt and Stephen Treharne of KPMG LLP, 8 Salisbury Square, London EC4Y 8BB as
joint liquidators.

Accordingly the ordinary 5p shares in the Company have been suspended from
trading on AIM with effect from 7.00 a.m. this morning and will be delisted in
due course.



After providing for all the Company's outstanding liabilities, the Company's
assets will be distributed by the liquidators to shareholders and to
warrantholders according to their entitlements under the Company's Articles of
Association and under the Warrant Instrument. It is anticipated that the
liquidators will be able to make a first distribution to Shareholders, of an
estimated 4.5 to 5.0 pence per Share, in approximately 6 weeks. The liquidators
will then require a further period of time, estimated to be between three and
six months, before they will be able to make a final payment to shareholders.



SHAREHOLDERS SHOULD NOTE THAT BOTH THE TIMINGS AND ESTIMATES OF PAYMENTS SET OUT
ABOVE ARE ESTIMATES AND THAT THE FINAL TOTAL PAYMENT MAY BE LOWER AND THE TIME
TAKEN TO ACHIEVE THIS MAY BE LONGER THAN ESTIMATED.



All correspondence or queries should now be addressed to the liquidators at the
above address.

Enquiries:


KPMG LLP
Michael Tappin                                           Tel: [phone]



Lipworth Capital Limited

Bertrand Lipworth                                        Tel: [phone]





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