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MONEYWEB HOLDINGS LIMITED - MONEYWEB`S BUSINESS PROGRAMME MOVES TO 1485AM MONEYWEB HOLDINGS LIMITED (Registration No:1998/025067/06) Share code:MNY ISIN:ZAE000025409 (`Moneyweb` or `the Company`) MONEYWEB`S BUSINESS PROGRAMME MOVES TO 1485AM From July 1, the Johannesburg broadcast of Moneyweb`s award winning business programme will switch to Radio Today 1485AM. A month later, it will be accessible in all of sub-Saharan Africa for the first time through WorldSpace satellite radio. The move is linked to Moneyweb`s strategy of expanding its involvement in the broadcast arena and positioning itself in satellite radio, the fastest growing part of the media sector globally. The programme, presented by Moneyweb`s editor in-chief Alec Hogg, ends its relationship with existing carrier Classic FM at the end of the month. Listeners in Cape Town (FMR 101.5FM) and Durban (Highway 101.3FM) are unaffected by the move. Johannesburg listeners and those accessing the programme on DSTV will be given an extra hour of programming just by switching channels. From July 1, Hogg will start his programme an hour earlier, kicking off at 5pm weekday evenings. The afternoon drive business programme spearheads the new partnership between Moneyweb and Radio Today, which is to reposition itself as 1485AM Gold. In addition, a new-look breakfast programme hosted by Moneyweb`s Byron Kennedy will be broadcast on Radio Today between 6am and 9am on weekday mornings. The Moneyweb team will also provide breaking business news to Radio Today listeners through the day. Radio Today`s chief executive Dr Ivan May says: `Our station and its beneficiaries, JAFTA, Drive Alive and, shortly, NOAH, are immensely pleased to be able to join with the best of breed in the media industry. This is part of the strategy of creating a great solid gold station - 1485am Gold - for the benefit of our community and the charities we support.` The station`s focus will be on providing high-quality business content and solid gold music ie easy listening tracks from the 1960s, 70s and 80s. Cal Kennedy has been appointed station manager. Moneyweb chief executive Edwin Jay says: `It is with great sadness that we end our four-year relationship with Classic FM during which time we helped turn the station around from heavy losses to one where it declared a maiden dividend of R3m this year. `There are no hard feelings. We regard the move as part of the process of a maturing radio industry. Unfortunately Moneyweb`s desire for more airtime could not be accommodated by Classic FM. Although we were keen to collaborate with both Classic FM and Radio Today, the board of Classic FM regard our new partnership as a competitor, so we have been forced to sever all ties.` Jay says the Classic Business show made a material contribution to Moneyweb`s revenues in the financial year ended March 2004. He adds: `We have no doubt the move will be to the longer-term benefit of our company. With the Radio Today and WorldSpace relationships, Moneyweb will for the first time have the ability to fully leverage the high-quality business and investment information produced by its two dozen full-time journalists around the world.` Moneyweb`s CEO says the impact of the move on the company`s profits for the year to end March 2005 will depend on the response of sponsors of the business show. He notes: `There has been a positive initial reaction from the major sponsors with whom Moneyweb enjoys long-standing relationships not only through their radio advertising but investment on our core Internet platform and our partnerships in the print media.` Jay says Moneyweb is in the process of reviewing its 20% shareholding in Classic FM, but adds that with a healthy cash balance in the bank it is not a forced seller. For more information contact Edwin Jay, CEO Moneyweb Holdings, (011) 327 1277 or 083 635 3546. Rosebank 22 June 2004 Sponsor Grant Thornton Corporate Finance (Proprietary) Limited Date: 22/06/2004 05:04:07 PM Produced by the JSE SENS Department
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