Chorion PLC 25 July 2005 Chorion Acquires Silver Lining Productions Acquisition brings The Very Hungry Caterpillar, Max & Ruby, Olivia and others into Chorion's stable of classic children's brands London 25th July 2005 - Chorion PLC, a leading owner of classic literary-based brands and content, is pleased to announce the acquisition of Silver Lining Productions Limited, a New York-based television production and merchandising business. Through the acquisition, Chorion adds a portfolio of film, TV and merchandising rights from such contemporary children's authors as Ian Falconer (Olivia), Eric Carle (The Very Hungry Caterpillar), Rosemary Wells (Max & Ruby) and Babette Cole (Princess Smartypants). The combination of Chorion's classic children's properties, such as Noddy and Mr Men, and Silver Lining's contemporary children's properties, all based on the works of bestselling authors, brings together an array of characters that appeal to children of all ages. Most importantly, all of the characters are already established around the world as the result of successful international publishing programmes. An additional advantage is that the acquisition will strengthen Chorion's position in the US, following the recent launch of Make Way for Noddy on PBS. Equally, Chorion's experience and presence in Europe and Asia will greatly assist the growth of Silver Lining's brands around the world. The New York based co-founders of Silver Lining, Amory Millard and Diana Manson, join the Chorion senior management team and will continue to undertake the development and production of the Silver Lining properties whilst the newly expanded Chorion team will bring their combined expertise to bear on the enlarged portfolio. Financial terms of the acquisition are undisclosed. Chorion expects the acquisition to be broadly earnings neutral in the first full year. Chorion Chief Executive Nicholas James said: "Silver Lining has focused on acquiring and developing publishing properties that have become contemporary classics. It has an exceptional track record internationally as a company of innovation and creativity. Our two teams and brand portfolios are a perfect fit. "The talents of the Silver Lining co-founders in both television and licensing will be tremendous assets for Chorion. They will enable us to bring more brands to market more quickly at a consistently high standard." Silver Lining Co-founder Amory Millard said: "We are delighted that Silver Lining is being acquired by a company which offers so much to our authors and their brilliant properties. It will enable us to realize the goals that we have been pursuing since the company's inception." Enquiries please contact : Andrew Sholl, Portland +44 (020) 7404 5344 Photos are available at www.vismedia.co.uk Notes to Editors 1. Chorion (LSE: COR) is a leading owner and manager of classic literary-based brands. Its foremost properties include Enid Blyton's Noddy and Famous Five, Roger Hargreaves' Mr. Men and Little Miss series, Agatha Christie's Hercule Poirot and Miss Marple, Georges Simenon's Inspector Maigret and Raymond Chandler's Philip Marlowe. Visit www.chorion.co.uk. 2. SILVER LINING PRODUCTIONS BACKGROUND The properties : * Eric Carle is the creator of more than 70 children's books with sales of over 65 million copies worldwide. Carle's most iconic book, The Very Hungry Caterpillar, has sold one copy per minute, day and night, somewhere in the world since first published in 1969. • Ian Falconer's Olivia is an international publishing phenomenon, with 2.5 million copies sold in 21 languages since its first release in October 2000. A television series is in development. • Rosemary Wells has published over 60 books in a long career. Max & Ruby first appeared in 1979. Silver Lining co-produced (with Canadian animation company Nelvana) a series of 26 x half hours for television which have rated highly for Nick US and other broadcasters worldwide since Fall 2003; and, with the same partner, Timothy Goes to School, for PBS, RTL and others in 2000. • Since its first appearance in 2003, Dragonology, from UK publisher Templar, has sold almost 2.5 million copies internationally and spent 65 weeks in the New York Times bestseller list. • Babette Cole's 84 books have sold over 5 million copies worldwide. A television series of 26 x half hours is currently in production (in association with French animation house, Moonscoop) of Dr Dog. Series will be delivered end 2005 to broadcasters TF1 (France), ZDF (Germany), ABC (Australia), and others. • Debi Gliori has published over 100 picture books and a recent series of young adult novels. Her books have sold over 2 million copies worldwide. Silver Lining recently completed development of a television series based on her Mr Bear books. • Anne and Georg Hallensleben's Gaspard et Lisa has sold over 1 million copies in 15 languages. Silver Lining is managing a licensing program, aimed at young adult women, in Japan, and preparing to develop a series for television. • Susan Jeffers is an award-winning US author and illustrator. She teamed with Rosemary Wells to illustrate McDuff, a book series which has sold 1 million copies in the US alone. • Simon Bartram's Man on the Moon (A Day in the Life of Bob) and Dougal the Deepsea Diver is a UK author and illustrator. He was shortlisted for the Kate Greenaway Medal in 2004. The founders: Amory Millard got her start in licensing by creating the licensing program for World Wildlife Fund - US, one of the first and most successful cause-related merchandising efforts of its kind. She then went on to run the US licensing operation for Determined Productions, which represented classic character franchises such as Peanuts and Felix the Cat and also managed the global licensing program for The Beatles. Then, as an independent consultant, Millard was tapped to develop and launch brand licensing and merchandising programs for clients Revlon and M&M/Mars. Diana Manson is a producer of television, film, theatre and radio in Australia, the UK and the US. She has worked in the music industry as an agent, manager, publisher and producer and established the Australian Broadcasting Corporation's successful record label and brand, ABC for Kids, where she signed The Wiggles. She has worked as a consultant for Disney, Sony and Warner Bros and as Director, Creative Development, for BMG International, based in London. This information is provided by RNS The company news service from the London Stock Exchange