Update on Trading in and settlement of common shares

21 Jul 2006 07:00

21 July, 2006 121 Media, Inc. ("the Company" or "121 Media") Update on Trading in and settlement of restricted common shares on AIM Further to the announcements made on 25 May 2006 and 23 June 2006 the Companyannounces that it has received notifications from certain qualifyingshareholders, who together hold 615,470 common shares representing 5.75 percent. of the issued share capital of the Company, to remove the Regulation Slegend from their share certificates.The Company has made an application for these shares to be admitted to tradingunder a new ISIN:US68241U1097 (SEDOL: B155HFO). The new line of stock will bedenoted by the ticker OTOM and dealings in these shares are expected tocommence on 27 July 2006.As previously stated shares trading under the new ISIN will be capable ofsettlement in CREST.Following the admission of these shares to trading under the new ISIN theCompany's 10,711,982 common shares will be classified as follows;Restricted:10,096,512 common shares under the ISIN: USU6829W1028, SEDOL B0593H9, TickerOTO.Unrestricted:615,470 common shares under the ISIN: US68241U1097, SEDOL B155HFO, Ticker OTOM.The Company expects to receive further notifications from qualifyingshareholders requesting to remove the Regulation S legend from their sharecertificates. Upon the issue of any new share certificates the Company willupdate the London Stock Exchange who will in turn inform market participants.As stated in the announcement dated 25 May 2006 the Company will announce on aquarterly basis the number of common shares that have been transferred to theUnrestricted ISIN in that quarter. The first announcement is expected to bemade on 27 October 2006.For enquiries:121Media, Inc. 0870 405 7727 Tim Bowen, CFO John East & Partners Limited 020 7628 2200 Simon Clements END121 MEDIA INC