PWS.L Regulatory News (PWS)

5 Apr 2005 15:52

Pinewood Shepperton plc05 April 2005 PINEWOOD SHEPPERTON PLC TRADING UPDATE The Board of Pinewood Shepperton plc confirms that Paramount Pictures, theproducers of "The Watchmen" film, are currently re-evaluating "The Watchmen"project. Pinewood Shepperton has a contract for film stage hire with Paramountfor "The Watchmen" film, which the Board expects will be honoured. In the likelyevent that filming does not commence at Pinewood Shepperton, the studios willnot benefit from anticipated incremental revenues from the film of some £2.2m ofancillary services and further stage revenues. This revenue had been expected tocommence in May 2005 with the majority falling in the second half of the year.The company will seek to procure alternative customers for the stages but isunlikely to be able to recover all the anticipated shortfall. The recently announced acquisition of Teddington Studios is in line withPinewood Shepperton's long-term strategy to diversify its revenue streams. TheBoard continues to view the Company's long-term prospects and strategy withconfidence. Enquiries Simon Sporborg Brunswick 020 7404 5959James Olley This information is provided by RNS The company news service from the London Stock Exchange