Global Finance Group invests in NetMed

MIH Ltd (Nasdaq: MIHL) the international television platform operator and software technology group, today announced the investment made by Global Capital Investors II LP, a fund managed by Global Finance Group, in its Mediterranean platform, NetMed BV. Global Finance's fund will acquire approximately 11% stake in NetMed BV by way of a share capital increase. As part of the agreement, NetMed will be converted into a public company with a view to be listed in 2001.

NetMed BV holds the interests of MIH Ltd as provider of pay television services in Greece and Cyprus offering exclusive programming through analogue terrestrial and digital satellite transmission. It is the leading platform operator in both territories and currently has over 375,000 subscribers through its programs and services SuperSport, FilmNet, KTV and Nova. NetMed introduced last December the first digital platform in Greece, Nova, which has already surpassed the 50,000 subscribers, achieving impressive growth rates. The new capital raised through the investment of Global Finance will be directed to the further development of this platform.

"We are delighted with the introduction of Global Finance as a shareholder. This strategic investment will bring considerable local expertise to NetMed and places NetMed in an excellent position to unlock shareholder value" said Cobus Stofberg, CEO of MIH Ltd.

Sheryl Raine, Managing Director of NetMed BV stated: "Global Finance possesses an impressive track record of adding value to its portfolio companies. We intend to make full use of its know-how, and we are sure that NetMed will prove to be a solid investment with high returns for Global Finance.

"We are excited with the growth prospects of digital pay-TV and interactive TV services, a field where MIH is a pioneer, in Greece, Cyprus and in the Balkans. We feel that NetMed fully satisfies our investment criteria: excellent management team, leadership position and high growth potential" said Angelos Plakopitas, Managing Director of Global Finance Group.

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