Historic Share Capital

The following are brief summaries of some company events which may be of some use in the calculation of Capital Gains Tax.

March 2000: The Company placed 10,000,000 25p ordinary shares at 150p per share and was admitted to the Alternative Investment Market for trading.

September 2001: The Company placed 15,450,000 25p ordinary shares at 25p per share.

June 2002: The Company sub-divided and re-designated each ordinary share of 25p into one deferred share of 20p and one ordinary share of 5p. Additionally, the Company issued 45,918,000 5p ordinary shares to facilitate the merger with Virtue Broadcasting Ltd and was subsequently renamed Tornado Virtue Plc.

December 2002: The Company sub-divided and re-designated each ordinary share of 5p into one deferred share of 4.9p and one ordinary share of 0.1p and was renamed Virtue Broadcasting Plc. The Company acquired 56,450,482 deferred shares of 20p and 113,965,523 deferred shares of 4.9p, which was financed by the proceeds of an issue of one 0.1p ordinary share to a nominated employee of the Company. The deferred shares were cancelled on purchase.

October 2003: The Company placed 30,548,300 0.1p ordinary shares at 2.25p per share.

November 2003: The Company placed 27,500,000 0.1p ordinary shares at 4p per share.

August 2004: The Company had a bonus issued of 7,499,987,904 ordinary shares of 0.1p each to each holder of ordinary shares in the capital of the Company on the basis of 24 bonus shares for ever existing ordinary share held; and consolidated 25 ordinary shares of 0.1p each in to one ordinary share of 2.5p each.

October 2004: The Company sub-divided and re-designated each ordinary share of 2.5p into one deferred share of 2.4p and one ordinary share of 0.1p and was renamed World Television Group Plc.