PWS.L Regulatory News (PWS)

21 Jan 2008 07:01

Pinewood Shepperton plc21 January 2008 Pinewood Shepperton plc Media Park Update Pinewood Shepperton plc ('Pinewood') is pleased to announce further progress onits Media Park strategy. Pinewood has now concluded tenancy renewals with Panalux Ltd (formerlyPanavision Europe Ltd) and Avid Technology Europe Ltd ("Avid") for longer-termleases of premises at Pinewood Studios. Avid develops, markets, sells and supports a wide range of software and hardwareproducts for the production, management and distribution of digital mediacontent. With global revenues of $910.6 million (FY2006), Avid has chosen toretain its European headquarters at Pinewood Studios. Avid is a major occupierat Pinewood Studios. Panalux Ltd is the recently merged businesses of AFM Lighting Ltd and LeeLighting Ltd, both owned by Panavision Inc. Panalux is a world leading lightingequipment rental company to the film and television industries and its premisesat Pinewood Studios are central to its European and Southern African operations.These premises are undergoing a refurbishment and upgrade. These agreements add to the strategic progress in building diversified,long-term and higher quality revenue streams. Whilst not a significant increasein year-on-year revenues, the Avid and Panalux tenancy renewals will now belonger-term leases offering greater consistency and transparency of revenuestreams for the future. Enquiries Brunswick Group LLPJames Olley / Dominic McMullan 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange