Craven House Capital Regulatory News (CRV)

16 May 2005 09:00

Medsea Estates Group PLC16 May 2005 For immediate Release 16 May 2005 MEDSEA ESTATES GROUP PLC ESTABLISHES EXCLUSIVE AGREEMENT IN NORTHERN EUROPE Spanish-based estate agent group, Medsea Estates Group PLC, has launched intothe Dutch, German and Benelux markets. The AIM-quoted company today signed anagreement with Barca & Boom Real Estates of the Netherlands, which has beenformed to market Medsea's properties exclusively throughout Holland, Germany,Belgium and Luxembourg. Says Medsea Chairman Tony Gatehouse: "There is a huge and developing market forSpanish property throughout these countries. Initially I expect the majority ofpotential new customers to come from the Netherlands but as Barca & Boomdevelops we anticipate a growing contribution from the other regions. Ourexclusive agreement with Barca & Boom ensures that we are well positioned toexploit this potential." Barca & Boom Real Estates is a new venture owned jointly by Antonio Barca andPatrick Boom. Between them the two principals have years of experience inmarketing, business consultancy, website development, online marketing andcommunications. The company is currently in the process of establishing anetwork of subagents to support its own team of sales representatives. Medseahas made an initial investment of £15,000 by way of advanced commissions whichwill be repaid by Barca & Boom Real Estates over 4 months by way of reducedcommission levels. While the agency network is being set up, the company will generate leads via anew website, a programme of on- and off-line advertising, and through attendanceat a series of exhibitions throughout the year. For further information contact: Tony Gatehouse, ChairmanMedsea Estates Group PLC 0034 96 570 40 02 Juan Carlos Rodriguez Martinez, Chief ExecutiveMedsea Estates Group PLC 0034 96 570 40 02 Roland Cornish/Noelle GreenawayBeaumont Cornish Limited 0207 628 3396 Terry Garrett/ Alex WhiteWeber Shandwick Square Mile 0207 067 0700 This information is provided by RNS The company news service from the London Stock Exchange