Director/PDMR Shareholding

20 Jul 2006 07:00

20 July 2006 121 Media, Inc. ("121 Media") or (the "Company") Directors' Shareholding The Company announces that Kent Ertugrul, chief executive officer, hasexercised options and warrants over 454,184 and 295,628 common shares,respectively.In addition, the Company has been informed by Kent Ertugrul that, following aclarification of the legal status of the 629,527 common shares held by DartleyHoldings, Inc, Mr Ertugrul is to be regarded as having a beneficial interest inthese shares. Accordingly, following admission of the common shares to be issued, (followingthe exercise of the options and warrants set out above) Kent Ertugrul will bebeneficially interested in 2,594,412 common shares (equivalent to 24.22 percent. of the issued share capital of the Company) and is the holder of optionsto subscribe for up to a further 880,707 common shares on terms previouslydisclosed.Mr Ertugrul has confirmed to the Company that he has no intention to dispose ofany shares in the Company for the foreseeable future.The Company also announces that Tim Bowen, chief financial officer, hasexercised options over 25,000 common shares. The registered holder of theseshares will be James Hay Pension Trustees, the trustees of Mr Bowen's SelfInvested Pension Plan.Following admission of these shares Mr Bowen will beneficially hold 70,000common shares (representing 0.65 per cent. of the issued share capital of theCompany), of which 35,000 common shares are registered in the name of James HayPension Trustees. Mr Bowen continues to hold options to subscribe for up to afurther 45,000 common shares on terms previously disclosed.In addition, members of staff have exercised options over 59,259 common shares.Application has been made for a total of 834,071 common shares to be admittedto trading on AIM and dealings are expected to commence on 26 July 2006.Following the issue of these shares there will be 10,711,982 common shares inissue.For enquiries:121Media, Inc. 0870 405 7727 Tim Bowen, CFO John East & Partners Limited 020 7628 2200 Simon Clements END121 MEDIA INC