GON Galleon Hldgs

RNS Number:8107F
Galleon Holdings PLC
07 July 2006



                              Galleon Holdings plc

                          ("Galleon" or the "Company")

                           Major Development Contract


Galleon Holdings plc, the intellectual property owner and developer in the
children's entertainment sector, is pleased to announce that, its wholly owned
subsidiary Croco Worldwide Sourcing Limited ("Croco") has secured a development
contract with a major global fast moving consumer goods company (the
"Customer") for the development and manufacture of a bespoke children's toy
premium for a multi-territory in-pack promotion.

The initial contract provides Galleon with a fee of #317,000 for the design and
development of a unique premium utilising one of Croco's product IP innovations. 
In the event that the customer decides to use the premium in a global promotion 
this would be expected to lead to substantial orders being placed with Croco by
the Customer, for the mass manufacturing of the product by late 2006.

Stephen Green, Galleon's CEO, commented,

"The fact that this major customer has committed development costs to this
project is a strong indication of their intention to place significant future
orders. I am confident that this agreement represents the start of a long term
strategic relationship that has arisen from our specialist skills in developing
proprietary IP of this kind. We look forward to updating shareholders on the
progress of this project."

For further information, please contact:

Stephen Green, Chief Executive
Hayden Eastwood, Finance Director
Galleon Holdings plc
Tel. 0208 987 0011

Ben Simons / Adam Reynolds
Hansard communications
Tel. 020 7245 1100









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

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