Update - Capital Reduction

Catalyst Media Group plc

("CMG" or the "Company")

Update - Capital Reduction

The Board of Directors of CMG announces that the reduction in the Company's share capital and cancellation of its share premium account, as approved at the Company's extraordinary general meeting held on 17 September 2010, was subsequently confirmed by the Court and became effective on 28 October 2010.

Contacts:

Michael Rosenberg, Non-executive Chairman +44 (0)7785 727595

Melvin Lawson, Non-executive Director +44 (0)20 7637 8412

Strand Hanson Limited, NOMAD to CMG

Angela Peace +44 (0)20 7409 3494

James Harris +44 (0)20 7409 3494