PIXL Pixel Int.

    RNS Number : 3328Z
  Pixel Interactive Media Limited
  17 July 2008
   

    The following release replaces the Issue of Equity announcement released today at 12:45pm under RNS number 3090Z. 

    In the release, the Group stated that it has issued 1,155,405 New Ordinary Shares at US$0.05 each. The release should have stated that
the Group has issued 1,155,405 New Ordinary Shares of US$0.05 each.

    The statement remains unchanged in all other respects.

    A full copy of the amended release appears below.

 Press Release    17 July 2008

    Pixel Interactive Media Ltd

    ("Pixel" or "the Group")

    Issue of Equity

    Pixel Interactive Media Ltd (AIM: PIXL), Asia's leading online and mobile advertising sales company, announces that it has issued
1,155,405 New Ordinary Shares of US$0.05 each to Dragon Tech Investment Limited, pursuant to the terms of the acquisition of Easy Growth
Limited ("Easy Growth") ("the Acquisition"), as announced on 8 March 2007. 

    As previously announced, the consideration for the Acquisition was payable in stages throughout 2007, and the remaining consideration is
based on performance for the year ended 31 December 2007, and was satisfied 40 per cent in cash and 60 per cent in New Ordinary Shares,
which total 1,155,405. The total consideration payable for the Acquisition was four times Easy Growth's consolidated profit after tax for
the year to 31 December 2007. 

    The Acquisition was made in order to provide the Group exposure to the fast growing Chinese online advertising and marketing industry,
and strengthened Pixel's offering with the addition of the affiliate marketing model.

    Application has been made to the London Stock Exchange for the shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will become effective on 22 July 2008.

    On Admission, the Company's issued share capital will consist of 40,032,337 Ordinary Shares with voting rights. 

    - Ends -

    For further information:
 Pixel Interactive Media Limited
 Kevin Huang, Chief Executive Officer         Tel: +852 2851 2490
 kevin.huang@pixelmedia-asia.com         www.pixelmedia-asia.com 

 Dawnay, Day Corporate Finance Limited
 David Rae / Edward Gay                 Tel: +44 (0) 20 7509 4570
 david.rae@dawnayday.com                        www.dawnayday.com

      Media enquiries:
 Abchurch Communications
 Charlie Jack / Joanne Shears       Tel: +44 (0) 20 7398 7700
 joanne.shears@abchurch-group.com     www.abchurch-group.com 


    About Pixel Media
    Pixel Media is a leading Asian online advertising sales network that provides complete online advertising solutions to website owner,
advertisers and their agencies throughout the Asia Pacific region.  Pixel Media's advertising services include premium display advertising
and sponsorships, email marketing solutions, affiliate marketing, and is complemented by its proprietary advertising management technology
and affiliate marketing platform called AiMs.   

    Pixel Media has an extensive advertiser base which includes blue-chip brands across Asia and partners with leading websites for
advertising sales in the Asia Pacific region including some of the biggest portals and brands on the internet today. 

    The Asia Pacific region is experiencing rapid rates of economic growth. The online advertising sector in the region (excluding Japan) is
expected to see very strong growth, with industry revenue forecasts of 39% CAGR during 2002 - 2007, from US$304 million to US$1.67 billion. 
Further information on Pixel Interactive Media is available at www.pixelmedia-asia.com 

    - Ends -

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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