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TV Loonland AG

euro adhoc: TV Loonland AG
Restructuring & Recapitalisations
TV-Loonland sells Korean holding SRE (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
Ad hoc/Press Release TV-Loonland AG
17 March 2003
TV-Loonland sells Korean holding SRE
Munich, Seoul, 17 March 2003 - TV-Loonland AG, Munich, has sold its
72.6 percent interest in Korea's SRE Corporation to the Korean media
company Moohandae Media Limited, Seoul. The parties have agreed not
to disclose the purchase price. By virtue of a debtor warrant,
TV-Loonland will hold an interest in the company’s earnings for a
period of five years.
TV-Loonland thereby parts with a loss-maker within the group. During
the 2001 financial year, while earning revenues of 14.7 million
Euros, SRE posted losses of 1.1 million Euros, a figure significantly
increased by declining revenues during the 2002 financial year.
According to TV-Loonland’s managing board, supporting the measures
necessary for SRE's continued development across the great
geographical distance and in another economic and cultural setting
proved to be very difficult.  This should be much easier and more
successful for an owner which is located in the same country. SRE
Corporation (formerly Saerom Entertainment Co. Ltd.), founded in
1997, focuses on direct sales of films, publishing and sales of VHS
cassettes and DVDs, and distribution of films via the Internet.
end of announcement        euro adhoc 17.03.2003

Further inquiry note:

Ilona McLean Tel.: +49 (0)89 20 50 80 E-Mail: imclean@loonland.com

Branche: Media
ISIN: DE0005348403
WKN: 534840
Index: Nemax All Share
Börsen: Frankfurter Wertpapierbörse / Neuer Markt
Baden-Württembergische Wertpapierbörse / free trade
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Börse Düsseldorf / free trade
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade