Offer Update

RNS Number:3385R
IG Co Limited
16 September 2005


IG Co Limited                                              16 September 2005

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

RECOMMENDED CASH OFFER FOR MUSIC CHOICE EUROPE PLC ("MCE") BY SMITH & WILLIAMSON
CORPORATE FINANCE LIMITED ("SMITH & WILLIAMSON") ON BEHALF OF IG CO LIMITED
("IGC")

OFFER UPDATE

On 19 August 2005, IGC announced the terms of a recommended cash offer to
acquire the entire issued and to be issued share capital of MCE to be made by
Smith & Williamson on behalf of IGC. The Offer was made by Smith & Williamson by
means of the Offer Document posted to MCE shareholders on 1 September 2005.

On 9 September 2005, IGC announced that the Offer was declared unconditional in
all respects and would remain open for acceptance until further notice.

IGC today announces that by 3.00 pm on 15 September 2005, valid acceptances had
been received in respect of a total of 27,496,849 MCE Shares, representing 82.86
per cent. of the Company's issued ordinary share capital.

As a result of IGC having obtained acceptances relating to MCE Shares carrying
more than 75% of the voting rights of MCE, applications will be made to the UKLA
for cancellation of the listing of MCE Shares on the Official List and to the
London Stock Exchange for the cancellation of trading of MCE Shares on its
market for listed securities. The notice period of not less than twenty business
days prior to cancellation commences on the date of this announcement. It is
expected that such cancellations will take effect from 17 October 2005.

The Offer will remain open for acceptance until further notice. MCE Shareholders
who have not yet accepted the Offer and who wish to do so should complete and
return their forms of acceptance as soon as possible.

Definitions used in the Offer Document dated 1 September 2005 apply also to this
announcement unless the context requires otherwise.

Enquiries

Smith & Williamson, Adviser to IGC
Nicola Horton 020 7131 4000
David Jones 020 7131 4000

Smith & Williamson, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for IGC and no one else
in connection with the Offer and the matters described herein and will not be
responsible to anyone other than IGC for providing the protections afforded to
its customers or for giving advice in relation to the Offer or any other matter
referred to herein.



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

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