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For Immediate Release

Cameron Thomson To Drive Olisat Launch Of South American TV Channels in Europe

New European Pay TV Service Draws On Cameron Thomson Group To Reach Spanish Speaking Audience

Milan, Italy - 23 April, 2004 - Olisat Srl, the Genova-based satellite television company and leading broadcaster of Latin American TV channels into Europe, today announced its appointment of Cameron Thomson Group Ltd. as its international business development partner.

Under the arrangement, Cameron Thomson Group, the pre-eminent supplier of business development services to the media and entertainment industries, will secure additional financing to the Olisat venture and to support Olisat in its pan-European sales of Pay TV content to both installer networks and cable TV operators. Cameron Thomson Group is also presenting the Olisat South American platform to selected pan-European advertisers, including major Telecom operators and financial institutions interested to reach the most affluent segment of the growing community of Spanish-speakers American immigrants into Europe. Further partnerships and initiatives are soon to be announced.

Olisat Srl, a Genoa-based company which has so far broadcasted 22,000 "free to air" programming hours on Eutelsat during 2003 and 2004 of a mix of premier South American TV channels, will line up by end of June 2004 a full set of 7 pay TV channels (plus one "shop window" free-to-air channel): Venevision, TV National Chile, TV Colombia, Telefè, CubaVision, MundoVision, Bethel TV. Such TV networks represent the top offering of general-audience commercial TV in Venezuela, Chile, Colombia, Argentina, Cuba, Peru and other Latin American Countries, respectively, while Bethel TV is a pan-Latin American Christian network. The program grids include fiction (telenovelas), musicals, documentaries, movies, sport and news live content, including 18 daily editions of local as well as US-based TV news, the only news to be broadcasted in Europe in Spanish and live. Other top Spanish-speaking channels are expected to join soon.

Over 5,000 families have already signed a first year Pay TV subscription of about 200 Euros during a pre-launch activity. Commercial activity and booking of smart cards will start in May with encryption selectively starting during July 2004, following a strong unsolicited interest from South American immigrants who will find Olisat's channels as their main link to their roots at home. Olisat owns also international satellite rights of Bowling and other sport exclusive content.

Olisat has been granted the European distribution rights by the South American television networks due to its winning strategy for packaging the channels together from an editorial and commercial stand-point, and expect to raise extra-revenues from Europe, as a royalty on paid subscriptions, to be invested to further improve the top quality of its programming.

Cameron Thomson Group has been chosen by Olisat for its focus on the cross-platform media market as well as for its track record of successes in its comprehensive range of services, from M&A / funding advisory to cross-border business development and commercial support of network operators, content and gaming providers in the areas of TV, interactive TV, Internet and wireless. Olisat will be able to tap CTG's networks of clients and partners to boost and speed up its sales, and is confident to reach its break-even point of about 40,000 subscribers during its first year of full operations.

"Olisat is targeting the large and underserved South American immigrant population in Europe. This massive Spanish speaking television audience comprises several million viewers extending from Northern Africa to Scandinavia, who seek a single source for news and entertainment television from their home countries. We have enjoined Cameron Thomson Group to assist in building a strong European distribution network and to help us strengthen our capital base to fuel Olisat's deployment", comments Marco Olivieri, Founder and Chairman of Olisat.

Ronald Thomson, President of Cameron Thomson Group, states, "Olisat is poised for solid growth. It is finally set to launch its satellite pay TV operation across Europe in the fast growing Spanish Speaking television market. Early contacts through our London, Milan and Toronto offices have already demonstrated considerable interest from distribution partners, advertisers, and investors".


About Olisat

Olisat Srl is a Genova-based private company specializing in broadcasting Spanish speaking pay TV channels from South America across Europe. To date the company have broadcast 22,000 "free to air" programming hours on Eutelsat during 2003 and 2004 of a mix of premier South American channels.

For more information on Olisat, visit www.olisat.com or contact:

Marco Olivieri - +39.010.8683390
E-mail: marco-olivieri@olisat.com


About Cameron Thomson Group

Cameron Thomson Group Ltd. is a leading business development company specializing in providing corporate development and investment banking services to the media, IT and entertainment industries. Drawing from its broad base of experienced and highly motivated professionals, Cameron Thomson's expertise is in transforming business ideas into prosperous commercial opportunities. Cameron Thomson has a track record in building successful new media companies that maximize the value of their intellectual properties globally through traditional media, the Internet, and via evolving broadband and wireless distribution mediums.

Cameron Thomson Group is based in Toronto, Canada, with offices in Milan, Italy, and in London, UK. As part of its core offering, the company is engaged in arranging financing for media, entertainment and IT companies. Cameron Thomson Group has established an enviable track record in financing start-up, early-stage companies, mature businesses, motion picture productions and other media projects.

For more information on Cameron Thomson Group, visit www.cameronthomson.com or contact:

In Italy - Enrico Amiotti +39.02.236.0575, eamiotti@cameronthomson.com
In the UK - Stuart Chambers +44.0207.659.1191, schambers@cameronthomson.com
In Canada - Michael Applebaum +1.416.350.5009, michael@cameronthomson.com