GON Galleon Hldgs

RNS Number:1344K
Galleon Holdings PLC
09 October 2006


Galleon and Sony BMG agreement

Galleon plc is pleased to announce that it has signed an exclusive agreement
with Sony BMG Music Entertainment (UK), one of the world's leading music
companies, to develop and launch a multi-platform global entertainment property.

The property, Apollo's Pad, uses character based comedy and breakthrough
animation technology to revitalise everyone's favourite songs in a way that can
be broadcast through traditional channels such as TV as well as through online
and mobile platforms.

Under the terms of the agreement Galleon will establish a dedicated team to work
with Sony BMG to combine Galleon's expertise in creating and commercially
exploiting entertainment-based intellectual property with Sony BMG's music
expertise, infrastructure and global reach. Galleon will be responsible for
managing the project through production, broadcast (on air, online and through
mobile technology) and licensing and merchandising. Sony BMG will manage music
production, rights clearance and exploitation through digital and retail sales
of music content.

Initially each party will retain ownership of their own intellectual property
but under the terms of the agreement, Sony BMG has the option to acquire for
cash a minority equity stake in the project. The project is expected to launch
in summer 2007.

Clive Rich, Senior Vice President Sony BMG, said "Today's multi-platform 
consumer expects great visual and audio content delivered to them when and 
where they want it. Galleon's intellectual property allows us to do this in a 
unique and ownable way."

Galleon's CEO Stephen Green said "This is a landmark deal for Galleon, and has
the potential to transform the company's entertainment business in a quantum
way. Sony BMG's expertise in music talent, rights management and its global
infrastructure for exploitation makes them the perfect partner for us. This
strategic alliance represents a huge endorsement of the project which will add
momentum to discussions with broadcasters, sponsors and other strategic and
commercial partners."


For further information, please contact:


Stephen Green, Chief Executive
Galleon Holdings plc
Tel. 020 8742 3636


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






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

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