PWS.L Regulatory News (PWS)

23 May 2005 07:30

Pinewood Shepperton plc23 May 2005 Pinewood Shepperton Plc Annual General Meeting Statement At today's Annual General Meeting of Pinewood Shepperton Plc, the leadingEuropean provider of studio and related services to the film and televisionindustries, the Chairman Michael Grade will make the following statement: As previously announced, trading conditions for film stage services remainchallenging against the backdrop of UK film fiscal policy that is under reviewand unfavourable US dollar exchange rates. Provisional bookings of film stagesfor the second half have improved considerably from the level achieved in thefirst half, reflecting US production demand. Achievement of current marketestimates for the full year will depend, as usual, on conversion of a number ofthese provisional bookings into firm contracts for the autumn, including atleast one major "blockbuster" movie. Integration of the newly acquired Teddington Television Studios with ourexisting business has now commenced, offering growth opportunities into 2006 andbeyond, in line with our long term strategy to diversify revenue. Our recent announcement of the approval of outline planning consent for our tenyear enhancement program at Pinewood Studios was a significant step forward. Weanticipate our planning application for Shepperton Studios being successfullater this year. The company continues to pursue its stated strategy and the Board maintains itsconfident view of the long term growth prospects for the company. Enquiries: Brunswick Group LLP 020 7404 5959Tom Buchanan/ James Olley This information is provided by RNS The company news service from the London Stock Exchange