Mediapolis update

12 January 2015 Clear Leisure plc ("Clear Leisure" or "the Company) Mediapolis update Further to the announcement of 28 October 2014, the Company is pleased toannounce that it has raised €200,000 via the placing of a 7 per cent. loan note("Loan Note") to its major Swiss shareholder in order to provide funds for itsfurther investment in Mediapolis S.p.A ("Mediapolis"). As a result of this plan, the Company has completed a second investment inMediapolis through a subscription for €185,000] of new shares, increasing itsholding in Mediapolis from 69.5 per cent. to 82.4 per cent. Owing to otherexisting Mediapolis shareholders also participating in the fundraise, which wasnot initially expected, the Company's holding is lower than 88 per cent. statedin the announcement of 28 October 2014. The Loan Note is repayable on 31October 2015 or convertible into shares at 1.5p per share. The right to convertvests with the lender. The Company is also pleased to advise that the board of Mediapolis has signed amandate with Avalon Consulting (www.avalonconsulting.it) to assist it with thedisposal of Mediapolis' development rights for a price based on the independentvaluation appraisal of €35,600,000 announced on 18 August 2014. The salemandate covers Avalon Consulting marketing the land and development rights fora cash price in the region of €22,000,000 or via an asset exchange for aliquid, listed stock of an authorised real-estate fund in the region of €34,000,000. Avalon consulting is a leading Italian real-estate advisory companywhich acts as a consultant and appraiser for many of the most prestigiousItalian real-estate companies or funds. The Board of Mediapolis has also decided to continue its legal claim againstRegione Piemonte for damages amounting to €26,000,000 and it is expected that aformal and final presentation of its case will be made by Mediapolis' lawyerson or before 15 February 2015. Finally, Mr Nilesh Jagatia, Clear Leisure's CFO, has recently been appointed asthe Chief Executive Officer of Mediapolis which has enabled the MediapolisBoard to complete its annual audit and call its Annual General Meeting ("AGM").The AGM will be held on 26 January 2015 to, inter alia, approve its report andfinancial statements for the period ending 31 December 2014. The approval of the Mediapolis report and financial statements for 2014 willallow Clear Leisure plc to complete annual report and audited financialstatements for the year ending 31st December 2014 in a timely manner. For further information please contact: Clear Leisure plc +39 02 4795 1642Alfredo Villa, CEO Cairn Financial Advisers LLP (Nominated Adviser) +44 (0) 20 7148 7900Jo Turner Peterhouse Corporate Finance (Joint Broker) +44 (0) 20 7469 0935Lucy Williams / Heena Karani About Clear Leisure Plc Clear Leisure Plc (AIM: CLP) is an AIM listed investment Company pursuing adynamic strategy to create a comprehensive portfolio of companies primarilyencompassing the leisure and real estate sectors mainly in Italy but also otherEuropean countries. The Company may be either a passive or active investor andClear Leisure's investment rationale ranges from acquiring minority positionswith strategic influence through to larger controlling positions. For furtherinformation, please visit, www.clearleisure.com