PTCM.L Regulatory News (PTCM)

16 May 2006 07:01

Media Steps Group PLC16 May 2006 16 MAY 2006 MEDIA STEPS GROUP PLC ("Media Steps" or the "Company") TRADING STATEMENT Media Steps Group plc (AIM:STEP) a provider of innovative outdoor advertisingfor stairways in public places provides an update on trading and prospectsfollowing the end of its financial year in March 2006. With an installed base of 386 sites in 140 railway stations throughout the SouthEast of England and installation in 2 sports stadia Media Steps continues toattract interest from advertisers, which includes a recent campaign forAirmiles. However with a difficult trading background the Company is still tomake any significant breakthrough in attracting long term commitments from majoradvertisers. Consequently trading continues at a level well below thatnecessary for break-even in profitability or cash flow. With cash resources of £300,000 at year end the Company needs to secureadditional finance if it is to continue trading. Discussions with possiblefinance providers are continuing. The Directors are also considering all otherstrategic alternatives available to them. Pending the outcome of thesediscussions the Directors have implemented a cost reduction programme includingan agreement by the Board to defer a significant element of their salaries. The Directors remain committed to delivering shareholder value and a furtherannouncement will be made once the outcomes of current discussions are clear. Enquiries: Media Steps Group plc Tel: 01234 828811 Tony Jansen, Managing Director Ian Russell, Finance Director This information is provided by RNS The company news service from the London Stock Exchange