Development of a Fashion TV Channel


Europeinvestment A/S
CVR no. 10435013
c/o Inwema ApS
Kongevejen 53, DK-2840 Holte
Telephone: 0046 8 20 92 70

Notification 2008-02-04

Re.: Development of a Fashion TV Channel

The Board of Europeinvestment A/S is happy to announce that today
Europeinvestment A/S has entered into an agreement with the major shareholder
in the company Aladdin Investment Services Ltd (hereinafter Aladdin) according
to which the development of the planned project regarding the starting-up of a
fashion tv channel will be carried through. 

As mentioned in notification of 16 May 2007 Europeinvestment was given the
opportunity to proceed with a number of investment opportunities, including a
tv channel. 

Phase 1 of the development of the fashion tv channel, consisting of preparation
of a demo, market survey, and presentation to major US gatekeepers with the aim
of securing distribution agreements with at least two major US gatekeepers, is
expected to cost up to approximately € 5 million to complete. However,
Europeinvestment does not have the required amount of cash to finance this
phase 1. 

Therefore, Aladdin has offered to Europeinvestment to start, pay and complete
phase 1 and in return acquire the ownership of the fashion tv channel which is
to be founded as an independent company and wholly owned by Aladdin. 

Furthermore, Aladdin has offered to Europeinvestment that Europeinvestment can
purchase the fashion tv channel company at a price corresponding to Aladdin's
costs, i.e. the amount that Aladdin has invested in the company and the debt
which the company may have to Aladdin on the date of transfer. The option of
purchasing the tv channel is valid for 12 months, i.e. until 4 February 2009.
Europeinvestment does not pay for the option. 

However, it is a condition for the option that Europeinvestment A/S's debt to
Aladdin as of 17 January 2008 is converted into shares in Europeinvestment A/S
as soon as possible and at the latest on 1 June 2008. Furthermore, it has been
agreed that Europeinvestment has a right of access to the project. 

If Europeinvestment wishes to proceed with the investment, Europeinvestment
shall before 4 February 2009 give preliminary notice to Aladdin.
Europeinvestment shall then have access to due diligence regarding the fashion
tv channel company. At the end of the due diligence phase, Europeinvestment has
the right to give final notice of its intention to buy the fashion tv channel
company. If such final notice is given, Europeinvestment will get 3 months to
finance the purchase, and any purchase is conditional on Europeinvestment
obtaining such financing. 

Since Aladdin takes all risks related to the investment, Aladdin has the right
to control the development of the fashion tv channel, including the right to
drop the project at any time. If Aladdin intends to drop the project, Aladdin
will, however, give notice hereof to Europeinvestment in order for
Europeinvestment to decide whether it will exercise the option and continue the
project. 

The Board of Europeinvestment A/S is very satisfied with the agreement which
ensures that Europeinvestment A/S can proceed with an investment opportunity
which otherwise may have been given up as a consequence of the current lack of
cash. 

Influence on Europeinvestment A/S in 2008

The result of the above agreement is not expected to be realised until 2009 or
later. 

Thus, it is not expected that the above agreement will influence the result for
2008. 


For further information please contact managing director Kenneth Dundas,
telephone +46 8 20 92 70. 

Europeinvestment A/S