RACING CHANNEL TO CLOSE

09 January 2003 - The Racing Channel, which is owned by US sports broadcaster TRNI, is to close, it was announced today. Broadcasts will terminate after January 31 2003.

Mr David Holdgate, Chief Executive of SIS which produces the Racing Channel programming and handles distribution on behalf of TRNI, said that he had been informed of TRNI's decision following their failure to reach agreement for continued coverage of racing in Ireland.

Broadcasting rights revenues for the 10 British racecourses whose races are broadcast on the Racing Channel will be unaffected. Mr Holdgate explained: "We retain the broadcast rights for these courses, and their payments for these rights are fully protected. We are now considering other possible opportunities for the use of these rights in the future".

Mr Holdgate said that staff of the Racing Channel had been informed of the decision. "Of course, we are all very sad that this excellent team has to be disbanded. It should be remembered that, when we started The Racing Channel, it was ground-breaking as the first single sport service of its type. The professionals behind the Racing Channel have made a tremendous contribution to the popularity of the sport in this country, and their professionalism and enthusiasm have been widely and rightly recognised."

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For further information contact:
Bene't Steinberg on 020 7939 7949 or (mobile) 07803-727611
Nick Wood-Dow on 020 7939 7909 or (mobile) 07713-681322

Notes to Editors

SIS is the most prolific producer of live television in the UK, with more than 9,000 hours of live programmes per year.

SISLink is the largest satellite linking fleet operator in the UK - 40 trucks. Nearest competitor is BT.
SIS has a turnover is £80million and employs 300.
SIS is owned by:
Ladbrokes 23%
Thales (Racal) 23%
United News & Media 19%
William Hill Organisation 19%
Racecourse Association 10%
Tote 6%
(all figures rounded)