MediaZest plc                                 

                        ( "Mediazest" or the "Company")                        


Issue of Equity

The Board of Mediazest announces that, on 14 August 2009, it issued and
allotted 80,000,000 new ordinary shares of 0.1p at a price of 0.25p per share
raising £200,000 pursuant to a placing.

The new ordinary shares will represent approximately 77.8 per cent. of the
enlarged issued share capital and will rank parri passu with the existing
ordinary shares.

The placing proceeds will provide additional working capital for the Company.

Application has been made to AIM for the admission of the 80,000,000 new
ordinary shares and dealings are expected to commence on 20 August 2009.


Directors' Dealings

Lance O'Neill, the Company's non-executive Chairman, has
subscribed for 4,000,000 shares as part of the fundraising through EP&F Capital
Plc, a company of which he is a director and shareholder.  Following this
subscription, Mr O'Neill's beneficial interest in the ordinary shares of the
Company will be 3.1 per cent of the enlarged share capital and his shareholding
through EP&F Capital Plc will be 3.9 per cent of the enlarged share capital.

Geoffrey Robertson, the Company's Chief Executive Officer and Finance Director,
has subscribed for 2,000,000 shares as part of the fundraising.  Following this
subscription, Mr Robertson's beneficial interest in the ordinary shares of the
Company will be 2.1 per cent of the enlarged share capital.


Related Party Transaction

Mr O'Neill is a related party pursuant to AIM Rule 13 and as such the
transaction is a Related Party Transaction. In accordance with AIM Rule 13, the
directors independent of the transaction have considered the terms of the
transaction and, having consulted with Dowgate Capital Advisers Limited, being
the Company's Nominated Adviser, are satisfied that those terms are fair and
reasonable insofar as the Company's shareholders are concerned.


Total Voting Rights

Following the admission of the new ordinary shares to trading on AIM and in
conformity with the Financial Services Authority's Disclosure and Transparency
Rules, the Company gives notice that its voting capital will consist of:

Ordinary Shares    Nominal Value      Value £             Ordinary Shares    
                                                          held in Treasury   
                                                                             
102,825,327        0.1p               102,825             Nil                


As the Company does not hold any ordinary shares in Treasury its total number
of voting rights equals its capital.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company under the FSA's
Disclosure and Transparency Rules.



Contact:

Geoff Robertson, Chief Executive Officer                      020 7724 5680
MediaZest plc                                                              
                                                                           
Liam Murray / Avi Robinson                                    020 7492 4777
Dowgate Capital Advisers Limited