RNS Number : 1764O Coolabi PLC 03 March 2009

Coolabi plc ('Coolabi' or the 'Company')

Acquisition of Eric Ambler, Michael Innes and John Creasey literary estates

Coolabi plc (COO:L), the AIM-listed media company focused on the ownership and creative management of high quality intellectual property rights, today announces that it has acquired three literary estates, namely the works of Eric Ambler, Michael Innes and John Creasey, from Owatonna Media International Limited.

Initial consideration will be �85,000 to acquire:

(i) 51% of Eric Ambler Literary Management Limited;

(ii) 100% of Michael Innes Literary Management Limited; and

(iii) 100% of John Creasey Literary Management Limited.

Eric Ambler Literary Management Limited contains an obligation to pay a further �85,000 to the minority shareholder over the five years following completion. There is also a potential earn-out across the three companies, capped at a total of �40,000 subject to the achievement of certain criteria over a five year period.

The transaction is being funded from existing facilities and is expected to be earnings enhancing in its first full financial year within the group.

The directors believe these assets, combined with Coolabi's expertise in managing literary brands, have the potential to deliver attractive returns. Ambler, Innes and Creasey wrote over 600 titles between them, selling millions of books worldwide; Creasey alone is said to have sold more than 80 million books in 26 languages.

Many of their titles have been adapted for film, television and radio, including Ambler's "Journey Into Fear" starring Orson Welles and "The Light of Day", filmed as "Topkapi" and starring Peter Ustinov.

Commenting on the acquisition, Jeremy Banks, Chief Executive of Coolabi plc said:

"This marks the entry of Coolabi into the field of literary estates, a sector I have been fortunate enough to experience in the past. These acquisitions are in line with our strategy to build a diversified portfolio of cash-generative intellectual property assets that have international potential across a broad range of media platforms and we believe there is scope to acquire other attractive literary estates and to build a significant presence in this lucrative market."

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Enquiries:

Jeremy Banks, Chief Executive, Coolabi plc: 020...

Tom Price, Bobbie Hilliam, Evolution Securities: 020...

Verity Williams, Portland, PR for Coolabi: 020... / 078...

verity.williams@portlandpr.co.uk

Notes to editors:

Eric Ambler is widely regarded as a pioneer of sophisticated thrillers whose work paved the way for such writers as John Le Carre, Len Deighton and Robert Ludlum. He published 19 novels under his own name, including The Dark Frontier, Uncommon Danger and Epitaph for a Spy. 2009 is the centenary year of Ambler's birth and sees five of his first six novels re-published in the Penguin Modern Classics range.

Ambler moved to Hollywood in the 1950s and during his eleven years there scripted some memorable films, including A Night to Remember and The Cruel Sea, the latter bringing him an Oscar nomination. Married to Joan Harrison, who wrote or co-wrote many of Alfred Hitchcock's screenplays, Ambler received 4 Gold Dagger awards and a Diamond Dagger for life achievement from the Crime Writers' Association. He won the Edgar Award of The Mystery Writers of America in 1964 and was named as Grand Master in 1975. He received literary awards from Sweden and France and in 1981 was named an Officer of the Order of the British Empire.

Michael Innes was the pseudonym of an Oxford don turned detective fiction writer with more than 50 novels and many short stories. The best-known of Innes's detective creations is Inspector (later Sir) John Appleby of Scotland Yard, who features in multiple books.

Writer/critic H.R.F. Keating included Appleby's End (1945) among the 100 best mystery and crime and books ever published. Many of his titles have been recorded for radio and Christmas at Candleshoe was the basis for the 1977 film Candleshoe starring Jodie Foster, Helen Hayes and David Niven

John Creasey was one of the world's most prolific novelists. He wrote over 550 separate books using more than 10 pseudonyms, across a range of crime and mystery, thrillers, children's, science fiction, westerns and romance titles. Creasey is said to have sold 80 million books in 26 languages, including the Gideon of Scotland Yard, The Toff and Inspector West series. Creasey founded the Crime Writers' Association (UK), which still celebrates this with the Creasey Dagger awarded each year. A number of titles from the Gideon of Scotland Yard and The Toff series have been adapted for film and long-running TV series, radio and audio books and many are still active.

About Coolabi plc:

Coolabi plc is an AIM-listed media group focused on the ownership, development, production and creative management of high quality intellectual property assets and their global exploitation through licensing and merchandising and distribution.

The group owns or controls the intellectual property rights to international brands including Purple Ronnie and Scarlett and Crimson, as well as selected rights to properties such as the Hammer House of Horror. Coolabi is also responsible for a variety of hit TV shows including The Large Family for CBBC.

In October 2008 Coolabi acquired Licensing By Design Ltd, a privately owned company representing the licensing and merchandising rights for Bagpuss, the Clangers and Ivor the Engine.

Coolabi is actively looking to increase the number and range of intellectual property assets that it owns, develops and manages. Whilst a proportion of this growth will come from the development of Coolabi's existing development slate, the majority will be as a result of the group's acquisition strategy.

http://www.coolabi.com

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