IG Co Limited 16 September 2005 IG Co Limited 16 September 2005 This announcement is not for release, publication or distribution in or into the United States, Canada, Australia or Japan. RECOMMENDED CASH OFFER FOR MUSIC CHOICE EUROPE PLC ("MCE") BY SMITH & WILLIAMSON CORPORATE FINANCE LIMITED ("SMITH & WILLIAMSON") ON BEHALF OF IG CO LIMITED ("IGC") OFFER UPDATE On 19 August 2005, IGC announced the terms of a recommended cash offer to acquire the entire issued and to be issued share capital of MCE to be made by Smith & Williamson on behalf of IGC. The Offer was made by Smith & Williamson by means of the Offer Document posted to MCE shareholders on 1 September 2005. On 9 September 2005, IGC announced that the Offer was declared unconditional in all respects and would remain open for acceptance until further notice. IGC today announces that by 3.00 pm on 15 September 2005, valid acceptances had been received in respect of a total of 27,496,849 MCE Shares, representing 82.86 per cent. of the Company's issued ordinary share capital. As a result of IGC having obtained acceptances relating to MCE Shares carrying more than 75% of the voting rights of MCE, applications will be made to the UKLA for cancellation of the listing of MCE Shares on the Official List and to the London Stock Exchange for the cancellation of trading of MCE Shares on its market for listed securities. The notice period of not less than twenty business days prior to cancellation commences on the date of this announcement. It is expected that such cancellations will take effect from 17 October 2005. The Offer will remain open for acceptance until further notice. MCE Shareholders who have not yet accepted the Offer and who wish to do so should complete and return their forms of acceptance as soon as possible. Definitions used in the Offer Document dated 1 September 2005 apply also to this announcement unless the context requires otherwise. Enquiries Smith & Williamson, Adviser to IGC Nicola Horton 020 7131 4000 David Jones 020 7131 4000 Smith & Williamson, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for IGC and no one else in connection with the Offer and the matters described herein and will not be responsible to anyone other than IGC for providing the protections afforded to its customers or for giving advice in relation to the Offer or any other matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange