Chorion PLC 18 May 2005 Chorion assumes management of Mr Men licensing Contract with Copyright Promotions Licensing Group terminated 18 May 2005 -- In its 2004 preliminary results announcement of 16 March 2005, Chorion plc ("Chorion"), a leading owner of classic literary-based brands and content, announced that it had decided that it would be in the best interests of shareholders for the licensing of the Mr Men property to be managed directly by Chorion, in the same way that it manages Noddy and other brands. Chorion has therefore been in negotiation with Copyright Promotions Licensing Group Limited ("CPLG") for an early termination of the latter's management contract. Chorion is pleased to announce that it has successfully concluded negotiations for the early termination of the contract in return for a payment of £1.5 million. Chorion inherited CPLG as licensing agent for the Mr Men properties with the purchase of the Mr Men estate in April 2004. The contract was due to run until September 2006, with certain commissions payable after that date. The termination of the agency arrangement, which was exclusive and included world-wide rights, is immediate and the management of the brand will now be taken over directly by Chorion. The payment of £1.5 million is a one-off payment in full and final settlement of all commissions due to CPLG under the previous arrangements. This will be expensed as an exceptional item by Chorion in the 2005 accounts. The conclusion of these arrangements at this point of the year is not expected to have any beneficial impact on the 2005 earnings, but is expected to provide a significant benefit to earnings in 2006 and beyond. Nicholas James, Chief Executive of Chorion said: "CPLG has successfully managed Mr. Men over the years and we are inheriting the day to day management of a brand that has performed well. By taking over the direct management of the brand now Chorion will be able more thoroughly to plan and execute the re-launch that will coincide with a new television series. This series is now in pre-production and we are very excited about the long term growth prospects for Mr Men that the new series will deliver from 2007 onwards. - ends - Enquiries please call: Tim Allan or Andrew Sholl Portland, for Chorion 020 7404 5344 About Chorion Chorion (LSE: COR) is a leading owner and manager of classic literary-based brands. Its foremost properties include Enid Blyton's Noddy, Roger Hargreaves' Mr. Men and Little Miss series, Agatha Christie's Hercule Poirot and Miss Marple and Georges Simenon's Inspector Maigret. Visit www.chorion.co.uk. This information is provided by RNS The company news service from the London Stock Exchange