Appointment of Receivers

RNS Number:3403U
Sportsworld Media Group PLC
10 April 2002

10 April 2002


Sportsworld Media Group plc ("Sportsworld" or the "Company")


Appointment of Administrative Receivers


On 27 March 2002, Sportsworld announced that it was to seek the disposal of
parts of its business as it had been unable to find a purchaser for the entire
Company. While the Company's current debt facilities were to expire on 31 March
2002 the Company's bankers had indicated their continuing support beyond this
date whilst the sale of parts of the business continued.


The Board regrets to announce that although positive discussions have taken
place with several parties interested in acquiring the separate parts of the
business, the Company does not have sufficient working capital to continue
trading while this process continues. Consequently, the Board was left with no
option but to ask its lenders to appoint an Administrative Receiver to
Sportsworld Media Group plc (the parent company). The Company's subsidiaries
continue to trade under the control of their existing management.



Following the appointment of an Administrative Receiver such administrative
receiver may make further announcements in relation to the existing sales
process.


                                    - ENDS -



Enquiries:

Tim Spratt / Tania Parsons
Financial Dynamics                                    [phone]




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