Europeinvestment A/S CVR no. 10435013 c/o Inwema ApS Kongevejen 53, DK-2840 Holte Telephone: 0046 8 20 92 70 Notification 2008-02-04 Re.: Development of a Fashion TV Channel The Board of Europeinvestment A/S is happy to announce that today Europeinvestment A/S has entered into an agreement with the major shareholder in the company Aladdin Investment Services Ltd (hereinafter Aladdin) according to which the development of the planned project regarding the starting-up of a fashion tv channel will be carried through. As mentioned in notification of 16 May 2007 Europeinvestment was given the opportunity to proceed with a number of investment opportunities, including a tv channel. Phase 1 of the development of the fashion tv channel, consisting of preparation of a demo, market survey, and presentation to major US gatekeepers with the aim of securing distribution agreements with at least two major US gatekeepers, is expected to cost up to approximately € 5 million to complete. However, Europeinvestment does not have the required amount of cash to finance this phase 1. Therefore, Aladdin has offered to Europeinvestment to start, pay and complete phase 1 and in return acquire the ownership of the fashion tv channel which is to be founded as an independent company and wholly owned by Aladdin. Furthermore, Aladdin has offered to Europeinvestment that Europeinvestment can purchase the fashion tv channel company at a price corresponding to Aladdin's costs, i.e. the amount that Aladdin has invested in the company and the debt which the company may have to Aladdin on the date of transfer. The option of purchasing the tv channel is valid for 12 months, i.e. until 4 February 2009. Europeinvestment does not pay for the option. However, it is a condition for the option that Europeinvestment A/S's debt to Aladdin as of 17 January 2008 is converted into shares in Europeinvestment A/S as soon as possible and at the latest on 1 June 2008. Furthermore, it has been agreed that Europeinvestment has a right of access to the project. If Europeinvestment wishes to proceed with the investment, Europeinvestment shall before 4 February 2009 give preliminary notice to Aladdin. Europeinvestment shall then have access to due diligence regarding the fashion tv channel company. At the end of the due diligence phase, Europeinvestment has the right to give final notice of its intention to buy the fashion tv channel company. If such final notice is given, Europeinvestment will get 3 months to finance the purchase, and any purchase is conditional on Europeinvestment obtaining such financing. Since Aladdin takes all risks related to the investment, Aladdin has the right to control the development of the fashion tv channel, including the right to drop the project at any time. If Aladdin intends to drop the project, Aladdin will, however, give notice hereof to Europeinvestment in order for Europeinvestment to decide whether it will exercise the option and continue the project. The Board of Europeinvestment A/S is very satisfied with the agreement which ensures that Europeinvestment A/S can proceed with an investment opportunity which otherwise may have been given up as a consequence of the current lack of cash. Influence on Europeinvestment A/S in 2008 The result of the above agreement is not expected to be realised until 2009 or later. Thus, it is not expected that the above agreement will influence the result for 2008. For further information please contact managing director Kenneth Dundas, telephone +46 8 20 92 70. Europeinvestment A/S