TV-Loonland Reports Zero Debt

MUNICH/LONDON, May 21:
Following its recent corporate transactions for the sale of the Hasbro Classics
Library and of its shareholding in Metrodome Group, TV-Loonland has repaid all
of its remaining bank borrowings and is free of debt.

Following the
restructuring package agreed on at its last annual general meeting in November
2007, the original bank debt of 20 million euros was reduced to 6 million, with
the company’s bankers also receiving a 10-percent shareholding in the company
in return. An initial 1 million euros was repaid from the proceeds of a
convertible bond issue shortly thereafter, leaving 5 million euros still
payable.

The outstanding amount has
now been repaid in full by means of selling the rights in the Hasbro Classics
Library to Hasbro Inc. and the shareholding in Metrodome to Romania’s MediaPro.
The initial excess proceeds from these transactions, which is approximately 1
million euros, is now available for use to the company, with further sums due.

Simon Flamank, the CEO of
TV-Loonland, commented: “This now marks a new exciting chapter in the company’s
history, as for the first time in seven years the company is debt free and thus
we are able to concentrate on future opportunities.”

“We will now consider
further the various alternative scenarios which may exist for the remaining
core children’s animation business and in particular the new properties that we
have been developing,” he added.

—By Kristin
Brzoznowski