Becker Group Announces the Cancellation of Proposal to Sell Film and Cinema Assets

Becker Group announced that it has decided to cancel the general meeting to approve the sale of the film and cinema businesses to Becker Film Group and others (Asset Sale Proposal). The general meeting was originally convened for 15 June, then was postponed to 29 June, and has now been cancelled. The Asset Sale Proposal was announced by Becker Group on 30 March 2007, together with the announcement of the recommended cash takeover offer for shares in Becker Group by Prime Media Broadcasting Services. Although the Asset Sale Proposal will now not proceed, the Independent Chairman considers that the Asset Sale Proposal has assisted in facilitating the original Prime offer, prompting interest from another potential bidder, and now that the Prime offer has been increased to 47 cents per share and declared unconditional, provides Becker Group shareholders with an opportunity to realise a substantial premium for their shares.