BRIGHTON, England, May 29, 2003 (PRIMEZONE) -- E-Learning solutions provider Futuremedia Plc (Nasdaq:FMDAY) today announced, that it is unaware of the cause of the abnormally high trading volume and sharp price rise of its' ADSs yesterday and today on the NASDAQ Small Cap Market. The Company is aware, however, that certain statements concerning a possible take over or buy out of the Company have been posted on the Internet by third parties. The Company is not responsible for any such statements and is currently not in any discussions regarding any take over, buy out or merger of the Company which could form the basis for any such statements.
The Company expects to issue its normal end of year trading statement on Monday 2nd June, 2003, and to subsequently make the appropriate filings with the SEC.
About Futuremedia
Futuremedia plc (est. 1983) is a Solutions Provider in the growing e-learning market with 20 years experience in the interactive media field supplying products and services to industrial and commercial business sectors and government, mainly in the UK and Continental Europe.
The Company has a proven track record in providing knowledge and training via Solstra, its proprietary Learning Management System which in its largest application has a capacity for 240,000 users.
Incorporated within its principal operation headquartered in the UK, Futuremedia's Professional Services team identify and specify client requirements and Futuremedia's Content Studio then design and develop custom content for clients' needs. The Futuremedia Library unit specifies and administers any content required from its comprehensive range of third party products. The Solstra Team deploy Futuremedia's own Learning Management System enabling training to be rapidly administered, delivered and progress tracked.
Futuremedia's customers include Royal Mail, Syngenta, BUPA and BT. Training content from partners SmartForce, Centra Software, SkillSoft and NETg is supplied and supported.
Futuremedia can be found on the Web at www.futuremedia.co.uk .
"Safe Harbor" Statement under Section 21E of the Securities Exchange Act of 1934
This press release contains forward-looking statements related to future results and speaks only of the Company's expectations as of the date hereof. Such statements include discussions concerning the Company's financial performance and the performance of its products. Such statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from expectations. The risks and uncertainties include the early stage of the e-learning market, the management of growth, the ability of the Company to continue to attract new funds if and when needed, the ability of the Company to develop and successfully market new products, rapid technological change and competition, and other factors detailed in the Company's filings with the US Securities and Exchange Commission. The Company expressly disclaims any obligation to release publicly any updates or revisions to any such statement to reflect any change in expectations or in information on which any such statement is based.
All product names and trademarks mentioned herein are trademarks of Futuremedia or their respective owners.
For further information: Media: Kay Phelps, Tel: +44(0)1932 761 889, e-mail: kay.phelps@btinternet.com Investor Relations: Mats Johansson, Tel: +44(0) 1273 829 700, e-mail: ir@futuremedia.co.uk