EGM Statement

RNS Number:0853C
Virtue Broadcasting PLC
18 August 2004

Immediate Release: 18th August 2004


                             Virtue Broadcasting plc

                          ("Virtue" or the "company")


                                  RESULT OF EGM


The Board of Virtue Broadcasting plc is pleased to announce that all resolutions
proposed at today's extraordinary general meeting were duly passed.


As such, the shareholders of Virtue have approved the proposed reverse takeover
of the company by the television and event production specialist, World
Television Group Limited ('World').  For the first time in the global corporate
communications sector, the merged Group will bring together specialist video
production, event production and advanced IP based communication services under
one roof.


Amongst other proposals passed at today's EGM, Virtue shareholders approved the
appointment of Andrew Booth, Peter Sibley, Anthony Bartlett and Jon King as
additional directors to Virtue as well as the reorganisation of the company's
share capital.  Jon King, former COO of World, will take the role of Chief
Executive Officer of the merged Group.


As announced on 23 July 2004, a Concert Party is deemed to exist for the
purposes of the City Code.  This Concert Party (which comprises the parties
mentioned below) will own 440,221,306 shares representing approximately 58.44
per cent of the company's issued voting share capital.


Mr P Sibley and Mr A Booth, who are regarded as a sub Concert Party, will own
231,868,979 shares representing approximately 30.78 per cent. of the company's
issued voting share capital.  Furthermore Mr R Newman, Archdream Limited, Arvon
Limited, Mr A Bartlett, Mr N Walker, Mr S Ozturk, Mr S Wharmby and Treve
Investment Management Service Limited, who are also regarded as a sub Concert
Party, will own 208,352,327 shares representing approximately 27.66 per cent of
the company's issued voting share capital.


Completion of the transaction and allotment of 440,800,265 new ordinary Virtue
shares to the vendors of World, and re-admission to trading on AIM of the
existing Virtue ordinary shares, is expected to take place on 19 August 2004.


Jon King, newly appointed Group CEO, commented:


"In recent years it has become more and more apparent that the emergence of
digital distribution has been, and will continue to be, one of the most
influential developments within the content production and distribution
industry. Moreover, it has also become clear that it will be the relative
ability of companies to adopt this technology on a global basis that will
differentiate those that succeed from those that fail.  Over the past 18 months
Virtue has emerged as Europe's leading IP based corporate communications player,
and I have no doubt that this merger will give us the critical mass,
geographical reach and the technological advantage needed to succeed in this
growing market.


I am extremely encouraged to have won the unanimous support of the company's
shareholders as well as the continued commitment and encouragement from our
combined client base. As Group CEO I look forward to meeting the challenge of
ensuring that we deliver both enhanced value to our shareholders and leading
edge communication services to our customers.


I would like to take this opportunity to thank all of those involved in bringing
the two companies together and I look forward to reporting on the benefits of
their hard work, tenacity and vision in the near future."





                                     -Ends-




For Further Information:


Jon King                Virtue Broadcasting plc         Tel: +44 (0) 20 7388 8555
CEO                                                     investorrelations@virtuebroadcasting.com

James Ormondroyd        Virtue Broadcasting plc         Tel: +44 (0) 20 7785 6000
Finance Director                                        investorrelations@virtuebroadcasting.com

Andrew Tan              Hansard Communications          Tel: +44 (0) 20 7245 1100
                                                        andy@hansardcommunications.com






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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