21st Jul 2006 10:34
Rank Group PLC21 July 2006 For immediate release 21 July 2006 The Rank Group Plc Disposal of Deluxe Media Services' UK CD replication business The Rank Group Plc ("Rank") announces that Deluxe Media Services has todaycompleted the sale of its UK CD replication business ("the Business"), locatedin Blackburn, Lancashire, to a subsidiary of Entertainment Distribution CompanyLLC ("EDC") for a net cash consideration of approximately £3 million includingcash in the Business at completion retained by Rank. As part of the transaction, EDC has acquired 100% of the issued share capital ofDeluxe Global Media Services Blackburn Limited, the holding company for theBusiness. The cash consideration received by Rank is subject to certainpost-closing adjustments for working capital. The disposal announced today, together with the disposals of Deluxe MediaServices' UK DVD replication and UK distribution businesses to Sony DADC thatwere announced on 30 June, complete Deluxe Media Services' exit from all of itsUK businesses. Rank is currently in discussions with a number of third parties for the disposalof the remaining assets of Deluxe Media Services. These assets comprise thecontinental European distribution businesses in Benelux, France, Italy, Spainand Scandinavia and the US DVD replication and distribution businesses. About Deluxe Media Services Deluxe Media Services is an international manufacturer and distributor ofoptical media on behalf of content owners in the video, music, games, softwareand information industries. About EDC EDC, a subsidiary of Glenayre Technologies, Inc., is the largest provider ofpre-recorded entertainment products, including CDs and DVDs, for Universal MusicGroup, the world leader in music sales. Headquartered in New York, EDC'soperations include manufacturing and distribution facilities throughout NorthAmerica and in Hanover, Germany. - ends - Enquiries: The Rank Group Plc Tel: +44 (0)20 7535 8031Dan Waugh, Director of Investor Relations Mobile: +44 (0)7799 581763 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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