GON Galleon Hldgs

    Embargoed: 0700hrs 10 October 2005

                             Galleon Holdings Plc                              

                         ("Galleon" or the "Company")                          

        Galleon acquires Equity Position and Global Exploitation Rights        

             in a new animation series to be broadcast on the BBC              

Galleon, the intellectual property owner, developer and manager is delighted to
announce the acquisition of a 15% equity stake with an option to increase this
stake in the future, in the new children's animated TV series, "Skunk Fu!"

Skunk Fu! has been created by Irish based animation studio, Cartoon Saloon. The
first series comprises of 52 x 13 minute episodes that tell the stories of a
skunk who has to learn the ways of Kung Fu after accidentally being dropped in
China by a wayward stork.

As part of the deal, Galleon has acquired the global merchandising rights to
the property. The animated TV series is scheduled to go on air in the UK with
the BBC in 2007. The show is already pre-sold with major broadcasters in key
territories such as Germany (Super RTL), and is in final negotiations with
major broadcast partners for France and the US.

Stephen Green, Chief Executive, commented,

"Skunk Fu! is unique and has all the key ingredients of a long term, global and
sustainable brand that works both on air and in merchandising. The
comedy-action series has been highly sought after by major broadcasters since
its unveiling at Cartoon Forum. The quality of Skunk Fu! is illustrated by the
strength of its initial broadcast partners which include the BBC.

This investment is in line with our strategy of owning, developing and managing
intellectual property. We will start negotiating global licenses, such as
Master Toy for this property, immediately."

For further information please contact,

Stephen Green, Chief Executive

Len Dunne, Managing Director

Tel: 020 8742 3636

Ben Simons

Hansard Communications

Tel. 020 7245 1100



END

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