Issue of Equity

19 December 2012 MediaZest Plc Issue of Equity MediaZest Plc ("MediaZest" or "the Company" or "the Group"; AIM: MDZ), the creative digital out-of-home advertising company and audio-visual integrator, is pleased to announce a placing of 149,166,900 new ordinary shares of 0.1 pence each in the capital of the Company ("New Ordinary Shares") at a price of 0.12 pence per share (the "Placing"). The gross proceeds of the Placing are £179,000 which will be used by the Company to provide additional working capital and fund the continued growth of the Company's operations. 16,666,700 of the New Ordinary Shares were taken up by the Directors of the Company or its subsidiary as follows: Director No. of New Ordinary No. of Ordinary % of issued share Shares Shares held capital held following the following the Placing Placing Lance O'Neill 10,000,000* 22,643,177** 4.75% James Abdool 4,166,700 11,984,882 2.51% Jim Ofield 2,500,000 4,500,000 0.94% * includes 5 million shares subscribed by Hilary O'Neill, the wife of Lance O'Neill **includes the interest of Hilary O'Neill City & Claremont Capital Assets Ltd ("CCCA") has subscribed for 41,666,700 New Ordinary Shares and now holds 112,616,700 ordinary shares in the Company equating to 23.62 per cent. of the issued share capital. The New Ordinary Shares will represent approximately 31.28 per cent. of the Company's enlarged issued share capital immediately following the Placing. Application has been made for the New Ordinary Shares to be admitted to trading on AIM. It is expected that Admission will be effective and that dealings in the shares will commence on 24 December 2012. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares. The Company's enlarged share capital immediately following the issue of the New Ordinary Shares will be 476,792,227 Ordinary Shares. There are no shares held in Treasury. The figure of 476,792,227 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules. The participation in the Placing by James Abdool, Lance O'Neill, Jim Ofield and CCCA is deemed to be a related party transaction under the AIM Rules for Companies. Geoff Robertson, the independent director of the Company for the purposes of the transaction, having consulted with the Company's Nominated Adviser, Northland Capital Partners Limited, considers that the terms of the related party transaction are fair and reasonable so far as the shareholders of the Company are concerned. Enquiries: Geoff Robertson Chief Executive Officer MediaZest Plc 020 7724 5680 Gavin Burnell / Edward Hutton Nominated Adviser Northland Capital Partners Limited 020 7796 8800 Claire Noyce / Deepak Reddy Broker Hybridan LLP 020 7947 4350