Agreement with New Licensee

4 Jul 2006 07:00

Embargoed: 07.00hrs, Tuesday 4th July 2006 International Brand Licensing plc Appointment of New Admiral Licensee in Turkey International Brand Licensing Plc ("IBL") announces the appointment of DiethnisAthlitiki Ltd ("Diethnis") as its new Admiral licensee for the territory ofTurkey.Under a ten year agreement, IBL will receive guaranteed minimum royalties of ‚£550,000 with over two thirds of this amount payable in the first five years.Furthermore, projected sales revenues indicate that significantly higherreturns will be generated throughout the term.Tony Hutchinson, IBL's Chief Executive, comments: "We are delighted to haveconcluded this agreement with Diethnis following its recent acquisition of theAdmiral trademarks for Greece and Cyprus, announced on 29th June. With itsrapidly developing economy and possible accession to the EU, Turkey offerssignificant opportunities for the Admiral brand in the coming years.Diethnis has invested heavily in Admiral over the past ten years, and itsproven success in developing an extensive Admiral retail network in Greece willprovide a powerful foundation upon which to build the Admiral brand in Turkey.Having sold the Admiral trademarks in Greece and Cyprus for a cashconsideration of ‚£775,000, this appointment and the minimum royalties itdelivers guarantees IBL a valuable ongoing revenue stream in the easternMediterranean, and also demonstrates the increasing value of the Admiral brandon a global scale."Admiral is the exclusive kit sponsor of the England and West Indies cricketteams, as well as Leeds United Football Club.For further information please contact:Tony Hutchinson0041-79-468-9450Adam Reynolds020 7823 1733International Brand Licensing plcENDINTERNATIONAL BRAND LICENSING PLC