RNS Number:0901U
UBC Media Group PLC
12 January 2004



12th January 2004

                              UBC Media Group plc


  UBC Media Group plc announces a restructuring of its joint venture company,
                             Oneword Radio Limited


UBC Media Group plc ("UBC"), the leading independent programme producer and
radio broadcasting company, today announces the restructuring of the operations
of its joint venture, Oneword Radio Limited.  The restructuring will include
reviewing commercial operations involving redundancies that will result in a
significant reduction of its ongoing costs. Oneword Radio Limited broadcasts the
Sony Radio Academy Award-winning national digital commercial radio station,
Oneword Radio, and is the only national commercial digital radio station
dedicated to the spoken word. The station is available on DAB digital radio,
BSkyB, Freeview and the Internet.

UBC does not expect that this restructuring of Oneword Radio will have an impact
on the financial results for the current financial year.

UBC currently has a 50% interest in Oneword Radio Limited and remains committed
to its further development. As part of the restructuring of the station, UBC is
in negotiations with its joint venture partner, the Hong Kong-based
conglomerate, USI Holdings Limited, to increase UBC's shareholding in Oneword
Radio Limited to 100%.  While the terms of the proposed transaction have still
to be finalised, the purchase consideration for USI Holding's 50% shareholding
is expected to be satisfied through the issue of new ordinary shares in UBC
representing less than 1.5% of UBC's current issued share capital.

In the event UBC increases its interest in Oneword Radio to 100%, the
restructuring announced today will ensure that the operating costs of Oneword
Radio in the financial year commencing 1 April 2004 will continue to be in line
with UBC's current level of investment in the station.

Simon Cole, Chief Executive of UBC commented:

"We now know that Christmas saw very strong sales of digital radios in the
shops.   There is now no doubt that the future of the radio industry is digital
and UBC has, since IPO in 2000, built up a range of digital radio assets.  The
challenge now is to consolidate these assets and deliver profit from them.  This
deal restructures the cost base at Oneword in such a way that UBC expects to
able to take total control of the only national commercial digital speech
service in the UK without increasing the level of investment this year.  We can
now fully integrate Oneword within UBC as we concentrate on building revenue."


                                     -END-



For further information, please contact:



Simon Cole, CEO, UBC Media Group plc               Tel: 020 7453 1600
Tim Allan, Portland, for UBC Media Group plc        Tel: 020 7404 5344



Notes to Editors:

UBC Media Group plc is a UK public company quoted on the London Stock Exchange's
AIM market. The Group is a market leader in the supply of content to the radio,
Internet and digital television industries in the UK.  In addition to the
entertainment and financial news services provided to commercial radio, the
Group is the largest independent producer of radio programming for the BBC.  The
Group also has significant digital radio interests including Classic Gold
Digital, the nationally distributed classic hits format.  It is also part of the
MXR consortium.

High resolution images are available for the media to view and download free of
charge from http://www.vismedia.co.uk



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