Re Joint Venture

9 Jun 2006 10:30

For immediate release: FIRST ARTIST FORMS LLP WITH THE COMPLETE LEISURE GROUPFirst Artist Corporation PLC (AIM: FAN), the acquisitive sports andentertainment group, today announces that it has signed an agreement with TheComplete Leisure Group PLC to form a Limited Liability Partnership calledSports Events LLP.The Complete Leisure Group operates three divisions: publishing, eventmanagement, and sports. Its management team is headed by Tim Howland - arecognised sports marketer credited for rescuing the European Ladies Golf Tourin 1998-2001 and overseeing the Welsh 2010 Ryder Cup bid. Its Chairman is LordCoe.Under the agreement, the newly formed Sports Events LLP will be jointly ownedbetween First Artist Corporation's events management subsidiary, The FinishingTouch (corporate events) Ltd., and The Complete Leisure Group PLC on a 50/50basis. The business will be focused on generating event management relatedrevenues. The Finishing Touch will be the exclusive supplier of eventmanagement services for a series of targeted events and a preferred supplierfor all others.Jon Smith, Chief Executive of First Artist Corporation PLC, commented:"We are delighted to be working alongside The Complete Leisure Group - itrepresents an exciting opportunity for First Artist. We see the venturebenefiting our business at two levels. Firstly, it will introduce revenuesdirectly into First Artist's recently acquired events management company, TheFinishing Touch. Secondly, it forms part of the Company's ongoing strategy tobroaden its base into the wider sports-related events market."Tim Howland, Chief Executive of The Complete Leisure Group PLC, said:"First Artist Corporation and its management team have an exceptional trackrecord in the representation and event management arena. We are delighted tohave entered this agreement and see it as an important building block in thedevelopment of our events management activity."First Artist's Chief Executive, Jon Smith, has been responsible for runningmajor events including the Horse of the Year Show and the introduction of theNHL, NFL, and NBA into the UK in the 1980's. During the last twelve months,First Artist's events management division, The Finishing Touch, organised andran over 300 events for private and public sector organisations.About First Artist CorporationFirst Artist Corporation PLC (AIM: FAN) is a leading sport and entertainmentrepresentation and event management group. With offices in London, Milan, theUSA and Middle East, it provides four distinct services: sports playerrepresentation, celebrity representation, wealth management, and eventmanagement. Its player representation division, First Artist Management, isrecognised as one of the world's leading football management groups.About The Complete Leisure GroupThe Complete Leisure Group PLC is focused on the entertainment and sportsectors. It operates three divisions: publishing, event management, and sports.Its executive management team is headed by Tim Howland - a recognised sportsmarketer.- ends -For further information:First Artist Corporation PLC Tel. + 44 (0) 20 8900 1818Jon Smith, Chief ExecutiveRichard Hughes, Finance DirectorArbuthnot Securities Limited Tel: + 44 (0) 20 7012 2000Tom GriffithsThe Complete Leisure Group PLCTim Howland - Chief Executive Tel: +44 (0) 20 7665 1252gth media relationsToby Hall/Jade Mamarbachi Tel: + 44 (0) 20 7153 8039 / 8035FIRST ARTIST CORPORATION PLC