(SHDP.L) Shed Media PLC Buy/Sell

RNS Number : 5572N Shed Media PLC 19 February 2009

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

19 February 2009

Shed Media plc ("Shed" or the "Company")

Terminated offer talks

The Board of Shed would like to state that it received an initial indicative approach to make an offer for the Company from a consortium including the executive directors in mid 2008 and confirms that this was considered by an independent committee of the Board comprising the non-executive directors, who appointed Lazard & Co., Limited as Rule 3 adviser. A revised proposed offer was rejected on 30th December 2008 and subsequent discussions, which were at a preliminary stage, were terminated in early January 2009. The proposed offer at the time discussions terminated valued the ordinary shares of the Company at approximately 100 pence per share in cash.

Enquiries:

Altium Capital Limited Tel: +44 (0)207 484 4040

David Bezem / Melanie Szalkiewicz

Hudson Sandler Tel: +44 (0)207 796 4133

Nick Lyon / Wendy Baker

The executive directors confirm that, whilst not currently considering making a further approach, they do not wish for the purposes of Rule 2.8 of the Takeover Code to limit their future ability to do so. Accordingly, no course of action has either been determined or ruled out by the executive directors including, should a further approach be made in the future, the potential terms or the timing of any such further approach.

END

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