ASOS Regulatory News (ASC)

2 Feb 2007 07:00

ASOS PLC02 February 2007 ASOS PLCFOR RELEASE7.00 AM2 February 2007 ASOS plc ('ASOS' or 'Group') (Leading online fashion retailer) Entertainment Marketing to close on 31 March 2007 The board of ASOS announces that it has decided to close Entertainment Marketing(UK) Limited, its marketing services company, on 31 March 2007. The closure will result in an exceptional non cash charge, in the year ended 31March 2007, of £188,810 relating to the write off of goodwill. In addition therewill be further costs of approximately £50,000 associated with the winding up ofthe business. In the year ended 31 March 2006, Entertainment Marketing (UK) Limited reported aloss before tax of £14,781 on turnover of £601,127. Nick Robertson, the Chief Executive of ASOS, commented: "Although Entertainment Marketing was the original business it is no longerrelevant to the long term future of the Group. The board has decided that thisis the appropriate time to close the business and focus all of management'sattention on the significant growth opportunities within ASOS.com." ASOS plc Nick Robertson, Chief Executive Tel:020 7240 7070Jon Kamaluddin, Finance DirectorWebsite: www.asos.com Cubitt ConsultingBrian Coleman-Smith / Leanne Denman Tel:020 7367 5100 Seymour PierceMark Percy / Nicola Marrin Tel:020 7107 8000 Background note: ASOS plc is an Internet Retail and Marketing Services Group, established in June2000 and admitted to AIM in October 2001. Its principal business is ASOS.com, aleading online fashion and beauty retailer. Aimed primarily at an Internet savvy18-34 year old, ASOS had over 1.15 million registered users at 12 January 2007and offers over 4000 products across womenswear, menswear, footwear,accessories, jewellery and beauty. This information is provided by RNS The company news service from the London Stock Exchange