Sale of California Market Center

Thursday 5 May 2005

dmg world media, the exhibitions division of DMGT, has announced the sale of the California Market Center to Jamison Properties Inc.

The California Market Center is the leading permanent apparel and gift mart in Los Angeles, in which dmg world media owned a 20% shareholding.

The total sale price was US$130 million. After repayment of all loans, dmg world media’s proceeds were US$17.2 million (£9.1 million), generating an exceptional profit in the region of £4 million.

As part of the arrangements all dmg world media’s contingent liabilities, in respect of the US$82 million loan and the US$6.5 million letter of credit, have now fallen away.

For further information, contact:
Mark Alcock,
Deputy CEO,
dmg world media
Telephone 001 415 461 1172

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