Champ Car Settlement

7 Aug 2007 16:48

Catalyst Media Group PLC07 August 2007 Catalyst Media Group plc ("CMG" or "the Company") Champ Car Settlement CMG announces today that it has reached agreement with Champ Car World SeriesLLC ("Champ Car") for the payment of US$400,000 in full and final settlement ofmonies owed to Champ Car arising from a letter of agreement dated 15 December2004 between Champ Car, CMG and Betelgeuse Productions Inc., a subsidiary ofCMG. The settlement agreed is significantly within the potential liabilities ofthe Company that were identified in the prospectus sent to shareholders dated 12March 2007. Enquiries: Catalyst Media Group plcMichael Rosenberg / Anna Prestwich 020 7927 6699 Strand Partners LimitedJames Harris / Angela Peace0207 409 3494 This information is provided by RNS The company news service from the London Stock Exchange