The New Beginning (30 Pence PriceTarget)

LONDON (AFX) - Profile Media Group PLC said 27,177,559 new ordinary shares
have been taken up under its open offer, representing 30.3 pct of the offer.

Profile Media had hoped to raise 2.3 mln stg via the placing and open offer
as part of the second stage of its financial restructuring announced in October.

It added that 21,656,202 convertible unsecured loan stock have been elected
to be converted into new ordinary shares.

Barclays has subscribed for 2,473,478 new ordinary shares in the open offer
through the exercising of 4,946,953 warrants.
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