GON Galleon Hldgs

RNS Number:1021Q
Galleon Holdings PLC
17 January 2002



For Immediate Release                                        17 January 2002



                      THE GALLEON GOUP PLC: JOINT VENTURE

The Galleon Group and Production Company Lightmaker.com Form 50%/50% Joint
Venture Called Sailmaker.tv;


- Creates Dedicated Production Company For Broadcast and Internet Ready
Animation


The Galleon Group plc ("Galleon") or ("the Group"), the AIM listed cross-media
company, announces that it has entered into a joint venture with leading
London-based new media production company Lightmaker Ltd ("lightmaker.com" or
"Lightmaker"), to produce animated features based on properties owned by both
Galleon and Lightmaker.com.



The new company, called Sailmaker Ltd ("Sailmaker.tv" or "Sailmaker"), will
take over current production of Galleon's and Lightmaker's children's
animation projects, PC Pepper, The Cornish Riviera Pasties and Herman's
Homepage. Each company will hold 50% of the shares in the new venture. Jim
Driscoll, Chairman, Galleon Group, will become Chairman of Sailmaker.tv.
Herman's Homepage was nominated for a BAFTA in the 'Best Interactive
Character' category at the 2001 awards.  This also forms part of the new
Sailmaker portfolio.



Galleon has interests in animation, media production, database marketing,
software publishing, public relations, trade journal production and graphic
design, Galleon joined AIM in November 2001 through a reverse takeover of
Andaman Resources plc.  The deal valued Galleon at #12.6m.  Galleon also
raised up to #1.5m through an open offer of new Andaman shares.



The Sailmaker.tv joint venture corporate development is the fifth announcement
by Galleon since going public: on 28 November 2001, a Disney producer joined
Galleon for the Astro Knights animation project; on 14 December 2001, it
signed a US$10m co-production deal with Cinegroupe of Canada; on 4 January
2002, it acquired 50% of new children's animation property, PC Pepper; and on
11 January 2002, it acquired its second major animation property, "The Cornish
Riviera Pasties."



Commenting on the Sailmaker.tv joint venture, Jim Driscoll said: " This is a
significant development for the Group.  Sailmaker.tv will act as a dedicated
production facility for the Group's growing portfolio of children's
properties. Not only will we benefit from Lightmaker.com's expertise in
developing Flash-based graphics and animation, and the time and money spent on
developing and managing animation projects from concept through to production
will also be materially reduced."



Said Adrian Barrett, CEO, Lightmaker.com, "The convergence of broadcast and
Internet technology means that new media agencies, such as Lightmaker.com, are
taking their expertise into the animation sector. With the creation of
Sailmaker.tv we can offer a dedicated animation production house, based around
Macromedia's Flash software. I am very excited about the new venture."



Sailmaker.tv will make full use of Lightmaker.com's six years of Macromedia
Flash development experience, creating animation suitable for broadcast and
interactive television, Internet, Personal Digital Assistants and the next
generation of mobile devices.



Said Mr Driscoll, "It has always been my intention to strengthen Galleon's
position in the market by building a strong IPR portfolio. Sailmaker.tv will
play an integral part in developing the properties signed to the Group. With
PC Pepper, The Cornish Riviera Pasties and Herman's Homepage, there is
tremendous scope for licensing and merchandising revenue which will be fully
realised by developing broadcast animation for these series. The reaction by
the broadcast and licensing industries to work done so far suggests that these
properties will be successful."



ENDS



About The Galleon Group

The Galleon Group is a content provider across platforms in multimedia
broadcast and interactive software. Group strategy is to build, acquire and
own a significant intellectual property rights portfolio. The Group combines a
number of companies that already generate turnover and profit. Galleon owns
companies with intellectual property rights in software, animation and new
media. It is also the holding company of Synthetic Dimensions plc, formerly an
OFEX company - comprising, Astro Knights Ltd, Probe Media Ltd, Redeye PR Ltd,
Meta4 Design Ltd and A4 Holdings plc. It also an equity interest in two other
privately-owned companies.


Notes to editors:



Images for PC Pepper, The Cornish Riviera Pasties and Herman's Homepage are
available at: www.lightmaker.com/clientsites. The password: is '
hermanandpcpepper' and the username is 'key'


For more information, interviews with directors and visuals of its animation
projects, please contact:


James Driscoll                 Paul Wooding                    Caroline Anderson
Galleon Holdings plc           RedEye Public Relations    Binns & Co. PR Limited
Tel: 01384 440591              Tel: 0775 367 8326             Tel: 020 7786 9600
e-mail:                        e-mail:                                   e-mail:
james.driscoll@galleonplc.com  paul.wooding@redeyepr.com 
                                                  carolineanderson@binnspr.co.uk


Adrian Barrett
Lightmaker.com Ltd
T: +44(0) 1892 615015
M: +44(0) 7931 332268
E: adrian.barrett@Lightmaker.com

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