The management of TV-Loonland is very pleased to notify that following its recent corporate transactions for both the sale of its rights in the Hasbro Classics Library and the sale of its shareholding in Metrodome Group plc, the company has repaid all of its remaining bank borrowings, thus becoming debt free.

Following the restructuring package agreed on at its last AGM in November 2007 the original bank debt of € 20m was reduced to € 6m, with the company's bankers also receiving a 10% shareholding in the company in return. Shortly thereafter an initial € 1m was repaid from the proceeds of a Convertible Bond issue, leaving € 5m still payable.

Said outstanding amount of € 5m has now been repaid in full by means of selling both the rights in the Hasbro Classics Library to Hasbro Inc. and of TV-Loonland's shareholding in Metrodome.

The initial excess proceeds from these transactions, approximately € 1m, is now available for use to the company, with further sums due.

Simon Flamank, CEO of TV-Loonland AG: "This now marks a new exciting chapter in the company's history, as for the first time in seven years the company is debt free and thus we are able to concentrate on future opportunities."

"We will now consider further the various alternative scenarios which may exist for the remaining core children's animation business and in particular the new properties that we have been developing."