Director/PDMR Shareholding

8 Jun 2006 07:00

Embargoed: not to be released until 7.00am on 8 June 2006 121Media, Inc. ("121Media") or (the "Company") Director's Share Option Grant The Company announces that on 7 June 2006 it granted share options to KentErtugrul, CEO of 121Media, over 500,000 common shares in the Company at anexercise price equal to the average closing middle-market price of theCompany's common shares on AIM on 8, 9 & 12 June 2006. The share options areexercisable, following vesting, until 7 June 2016 and will vest in 5 tranchesof 100,000 dependent upon the share price of 121Media's common shares reachingthe following levels:Share Price No. of shares vesting ‚£100.00 100,000 ‚£200.00 100,000 ‚£300.00 100,000 ‚£400.00 100,000 ‚£500.00 100,000 The Board has imposed this vesting schedule as an incentive to Kent Ertugrul tomanage and grow the business in a way they believe will be to the benefit ofall shareholders.Any options which have not vested by 7 June 2011 will lapse.Kent Ertugrul now holds 1,334,891 share options, of which 200,000 areexercisable at ‚£2.115 per share, 180,707 are exercisable at ‚£2.45 and 454,184are exercisable at $0.61327.For enquiries:121Media, Inc. 0870 405 7727 Tim Bowen, CFO John East & Partners Limited 020 7628 2200 John East/Simon Clements END121 MEDIA INC