Statement re closure of subsidiary

    YooMedia PLC

Closure of "Avenues" dating subsidiary

YooMedia PLC (the "Group") announces the cessation of trading of its subsidiary
company FinLaw 532 Ltd which trades under its brand name, Avenues.

Avenues was a dating agency providing services to its target audience of
professional and affluent clients. At the time of the preliminary results on
29th June, the company disclosed that this business was not meeting
expectations and that strategic options were being explored as part of
management's policy of restructuring and repositioning the Group's operations.

The board has decided that Avenues is no longer viable and has committed it to
receivership as part of the process of re-aligning the Group for future growth.

Neil MacDonald, Group Managing Director, commented:

"Our Chairman's statement in June discussed our efforts in the past year to
change the operations to enable us to focus exclusively on those aspects of the
business which will produce long term sustainable returns for shareholders.

"Today's action, although regrettable, was necessary from an economic
standpoint. Despite our efforts over the last few months, the predominantly
offline Avenues business is no longer sustainable in the face of increasing
competition from online services. Our online dating business under the Dateline
brand continues and we look forward to announcing more positive news in the
months ahead."

YooMedia PLC                           +44 (0) 207 462 0870                  
                                                                             
Neil MacDonald, Managing Director                                            
                                                                             
Nexus Financial Ltd                    020 7451 7068                         
                                                                             
Nicholas Nelson/Kathy Boate            Nicholas.nelson@nexusgroup.co.uk      
                                                                             
Seymour Pierce Limited                 +44 (0) 207 107 8000                  
                                                                             
Mark Percy                                                                   



END

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