PEL.L Regulatory News (PEL)

Paragon Entertainment Limited

Paragon wins major Olympic contract

Paragon Entertainment Limited (PEL.L) ("Paragon"), the AIM-listed attractions design, production and fit-out business is pleased to announce that it has secured the contract to design, develop and fit out The Olympic Museum in Lausanne, Switzerland. This £4.8 million project, to be delivered over the next 14 months, utilises Paragon's core strengths and features design development, theming, setworks, fit-out and manual interactives.

The Olympic Museum was opened on 23 June 1993 on the initiative of Juan Antonio Samaranch in Lausanne, Switzerland. It houses permanent and temporary exhibits relating to sport and the Olympic movement. With more than 30,000 pieces, 500,000 photos and 100,000 hours of video the museum is the largest Olympic Games archive in the world and Lausanne's prime tourist site attracting more than 200,000 visitors each year.

The project is the largest development for the Museum since 1995 and is designed to significantly enhance the visitor experience. The Olympic Museum is a world-class museum where visitors from all nations and cultures, young and old, can experience the complex and enthralling story of the ordinary people and sporting heroes who contribute to a better world through the medium of sport. It is a story of striving for excellence, respect, cooperation and mutual understanding both during the Games and beyond them.

CEO Comment

Mark Pyrah, CEO of Paragon Entertainment, commented: "The core 'design and build' segment of Paragon has seen its best year to date and has a record contracted order book through to the end of 2013; currently in excess of £11 million. The Olympic Museum project shows just how strong the Paragon brand is in the market. This is without doubt one of the most important projects we have undertaken in our 25 year history and one of the most important projects to open in Europe next year. We are delighted, proud and honoured to have been awarded this contract."

Olympic Museum Comment

Francis Gabet, Director of The Olympic Museum, commented: "We are excited to be working with Paragon on the redesign and build of The Olympic Museum; this is one of the most important times in the Museum's history and we are happy to have the creativity and experience of Paragon on our team."

Ends

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Ivonne Cantu / Max Hartley (Nomad)

Alex Aylen / Julian Morse