PTCM.L Regulatory News (PTCM)

15 Oct 2008 07:00



For Immediate Release

15 October 2008

TSE Group Plc

("TSE" or the "Company")

TSE secures major new Middle East contract 

The Board of TSE is pleased to announce that its wholly owned subsidiary, TSE Consulting SA, the international sports management consultancy, has secured a major new contract in the Kingdom of Saudi Arabia.

This initial 18 month assignment will be providing consultancy services to the Saudi Arabian Swimming Federation to support their efforts and to develop their increased capability in planning and administering the Olympic sport of swimming in the Kingdom.

This new assignment is the first for TSE in the Kingdom of Saudi Arabia and is the forerunner to TSE's expansion into the Middle East region. With its headquarters in Lausanne, the Olympic Capital, TSE also has offices in London, Copenhagen, Istanbul, Moscow, Johannesburg, Beijing and Indianapolis. Negotiations for a fully fledged Middle East office are now being undertaken and will follow on the back of this new assignment. 

Commenting on this important new business win, Lars Haue-Pedersen, Managing Director of TSE Consulting SA, said: 

"The Middle East market is the most important burgeoning market for international sporting events and in addition to the massive investment being undertaken in major new sporting facilities within the region, considerable investment is flowing from this region into international sport. TSE's Lausanne office has had a long association with the Ministry of Youth and Sport in the Kingdom of Bahrain and this new important Saudi Arabian contract, secured by the Director of our US operations, Dale Neuburger, has cemented our stronger presence in the region.

The increasing benefits to governments and cities around the world to utilise international sport to achieve their business and social objectives grows unabated in the current financial climate and TSE's international presence continues to ensure it's position as the leading provider of specialist consultancy services in this area. This Saudi Arabian contract will hopefully lead to other major assignments within the Kingdom".

TSE Consulting personnel representing the Lausanne and Indianapolis offices will carry out this assignment, and the company will work closely with the President of the Saudi Arabian Swimming Federation, HH Prince Abdulaziz ibn Fahd ibn Abdullah Al-Saud, and the Secretary-General, Ali S. Alqatani, to develop competencies at all levels to ensure that Saudi swimming will be equipped to compete at the highest level at the Olympic Games in London in 2012.

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