GON Galleon Hldgs

    RNS Number : 6507F
  Galleon Holdings PLC
  13 October 2008
   

    Date:                           13 October 2008
    On behalf of:               Galleon Holdings plc ("Galleon", "the Company" or "the Group")
    Embargoed until:         0700hrs 


    Galleon Holdings PLC
    * First Earn-Out Payment - Yunbo

    Galleon Holdings plc (AIM: GON), the AIM listed entertainment media company developing and producing multi-platform properties with a
focus on emerging markets, is pleased to announce that following its acquisition of Changsha High and New Technology Industrial Development
Zone Yunbo Information Technology Co. Ltd ("Yunbo"), a leading mobile services provider in China, the company has exceeded its EBITDA
performance target for the first six months, as detailed under the terms of the acquisition agreement dated 20 February 2008.  

    Galleon acquired Yunbo to strengthen the Group's media infrastructure in emerging markets and to provide complete multi-platform media
solutions to Chinese broadcasters.  Since the acquisition, Yunbo has grown its average monthly revenue by approximately 60% and is now the
tenth largest mobile services provider in China.  This growth has been driven by a diversified product offering and Galleon's roll-out of
its entertainment properties, including interactive TV services, which continues with a number of negotiations with broadcasters underway.
Through this infrastructure Galleon's Chinese operations are able to deliver a pipeline for 3rd party or internally developed interactive TV
content, with total control over delivery to the consumer, data capture and the billing process.

    As a result of Yunbo exceeding the agreed performance targets, the first element of deferred consideration is due for payment to the
vendors.  This consideration is to be satisfied by the issuance and allotment of 10,180,775 Galleon ordinary shares with a nominal value of
1p per share.

    The Company has applied for these shares to be admitted to trading on AIM and admission is expected to occur at 8 am on the 16 October
2008.

    A further performance related payment will be due in 2009, based on Yunbo's EBITDA performance target for the 12 months to 31 December
2008.  

    Stephen Green, CEO of Galleon Holdings, said:

    "Yunbo has been an excellent addition to the Galleon group.  The growth that we are seeing in Yunbo's revenues is evidence that our
strategy of using our media entertainment properties to drive traffic through mobile platforms is working. We expect this to continue as we
develop our operations within our China media division, Phoenix."

    Enquiries:

 Galleon Holdings plc                                www.galleonplc.com
 Stephen Green, Chief Executive                      Tel: 020 8742 3636

 Kaupthing Singer & Friedlander Capital Markets
 Graham Swindells / Marc Young                       Tel: 020 3205 7500

 Redleaf Communications                          Galleon@redleafpr.com 
 Samantha Robbins / Sanna Sumner / Mike Ward         Tel: 020 7822 0200


    Notes to Editors:
Galleon Holdings plc creates and distributes multi-platform branded entertainment properties focused on the emerging markets, in particular
China and South East Asia. The entertainment properties are designed to establish a direct, interactive relationship with the viewer.

    Television in China reaches approximately 98% of the population of 1.3 billion.  Mobile phone penetration is also high, with over 450
million subscribers and with over 300 million people online, China is now the largest online market in the world.  Huge TV audiences and
growing interactive platform access presents a substantial opportunity for Galleon to benefit from the popularity and demand for interactive
entertainment and game shows. China is forecast to become the world's fifth largest advertising market.

    In October 2007 Galleon acquired Phoenix, a Hong Kong based media solutions company, which specialises in the provision of interactive
broadcast television services that enable broadcasters in China and South East Asia to provide interactive entertainment for audiences to
access through TV, online and mobile. 

    In February 2008 Galleon acquired Yunbo, a mobile service provider in China, strengthening the Company's ability to provide Chinese
broadcasters with a complete media solution for multiplatform entertainment.  Galleon now has total control over the interactive content,
its delivery to the consumer, data capture and the billing process.

    Galleon develops entertainment formats for children, families and young adults.  These include:

    *     Super Soccer Star - an interactive family orientated football talent show.  Produced in association with Chelsea Football Club
through its media arm Chelsea Digital Media.  The first series, broadcast in Guangdong province, China, achieved top five show status.
    *     The Limit - prime-time family variety game show.  To be launched in Hunan province, China in early 2009. 
    *     Skunk Fu! - a comedy action animated TV show for kids aged 6-11.
    *     Apollo's Pad - an interactive online animated sitcom targeting 16-24 year olds.  


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