RNS Number:2376L
Galleon Holdings PLC
19 May 2003


                              GALLEON HOLDINGS PLC
                                        
      Signs 3 year licensing Agreement with Ginsters, baked savoury pastry
                                  manufacturer
                                        

Galleon Holdings plc ("Galleon" or "the Group"), the AIM-quoted, cross-media
company, today announces the signing of a licensing agreement with Ginsters -
the UK's leading chilled savoury pastry manufacturer - for the principal
characters from its animation property, The Cornish Riviera Pasties. Ginsters is
developing a range of products aimed at younger consumers and will use The
Cornish Riviera Pasties license to access a younger market place than its
traditional 25-45 year old consumer.


The license runs for three years with options to renew subject to agreement of
commercial terms. Galleon has received an advance on signature of the contract
and a guarantee of royalties over the term. The license is exclusive to Ginsters
and covers the whole of the UK.


Ginsters, which has distribution in place with virtually every major chilled
food retail outlet in the UK including Tesco, Asda, Sainsburys, Somerfield,
Safeway and Waitrose, is currently in the product development phase for the new
range and expects product in store by Q4 2003.


Galleon Chairman and co-creator of The Cornish Riviera Pasties, Jim Driscoll
M.B.E, said:


"Ginsters is probably the UK's most recognised and respected brand in the pasty
and savoury products market. The Ginsters' agreement further establishes The
Cornish Riviera Pasties as a successful licensing and television property. "


He continued:


"Allying characters from our animation series with such a brand leader offers
scope for generating significant revenues from sales of product carrying the
licensed characters, and for increasing interest in the forthcoming TV series."


Larry File, Marketing Controller for Ginsters, said:


"We are extremely confident of the success of this licensing agreement. Our own
market research suggests a potentially massive new consumer market in the under
10's age range providing we deliver nutritious and wholesome products."


Initial products will include savoury pastries with child-friendly ingredients
designed to excite kid's taste buds. Ginsters anticipates extending the range
into related product sectors.


Mr Driscoll concluded:


"The Ginsters agreement validates the potential of The Cornish Riviera Pasties
both as a popular television series and a licensing property. We anticipate
merchandising and retail agreements across a range of consumer sectors,
including clothing, eyewear, fashion accessories and dedicated surfing and other
adventure sports equipment."


Notes to editors


Ginsters is Cornwall's largest pasty manufacturer and the only brand of
Cornish-made pasties to be available nationwide. Ginster has a range of 40
products including savoury slices, sandwiches, pork pies, and buffet bars. As
the market leader with brand sales now at an estimated #180 million, the
company's current growth rate is 25% per annum with brand sales having almost
doubled in the last three years.


Galleon Holdings is a content provider across platforms in multimedia broadcast
and interactive software. The Group's strategy is to build, acquire and own a
significant intellectual property rights' portfolio. The Group owns companies
with intellectual property rights in software, animation and new media. The
Galleon Holdings plc is the holding company of the Group incorporating Astro
Knights Ltd, Probe Media Ltd, Redeye PR Ltd, Clipper Media Ltd and A4 Holdings
plc. It also owns equity interests in two other companies.


The Cornish Riviera Pasties: Fistral Freddie, Porthmeor Pete, Malibu Mike and
Bondi Bruce, are a cool quartet of surfing dudes from the television series.
These characters will appear on Cornish pasties and other savoury goods designed
to appeal to children, both in terms of appearance and taste, with all product
being made from fresh produce sourced locally in Cornwall.



For more information regarding this announcement please contact:

James Driscoll                                  Paul Wooding
Chairman                                        RedEye Public Relations
Galleon Group Plc                               T: +44(0) 775 367 8326
T: +44(0) 1384 440 591                          E: paul.wooding@redeyepr.com
F: +44 (0) 1384 440 582                         W: www.redeyepr.com
M: +44 (0) 7785 977 969
E: james.driscoll@galleonplc.com

Linda Donaldson                                 Sam Allen
Ginsters Press Office                           Binns & Co. PR Ltd
T: 0117 905 8740                                T: 020 7786 9600
F: 0117 905 8775                                F: 020 7786 9606
E: linda@bluestone.co.uk                        E: sam.allen@binnspr.co.uk



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