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Change of Directorate

28 April 2006

Following the Extraordinary General Meeting held on 24 April 2006 and the completion today of the placing of 13,491,561 new ordinary shares to Prime Focus Limited (“PFL”), Mr Philip Lovegrove has resigned from the Board. Philip has chaired VTR since its formation in 1986 and steered the Company through its entry to the Stock Market and its growth and development throughout two decades of change.The board owes Philip a great debt of thanks for his advice and support and wishes him well for the future.

The board welcomes Mr Namit Malhotra, who has been appointed to the Board as non-executive chairman. In addition, Mr Naresh Malhotra, Mr Chandir Gidwani and Mr Rivkaran Chadha have been appointed to the Board as non-executive Directors.

Mr Namit Naresh Malhotra, aged 30 years, is the Managing Director of PFL. which he built from a moderate one room editing studio to the largest post production and visual effects studio in India. Namit is currently also a Director of Prime Focus UK Limited. Namit was previously a Director of Film Logic (India) Private Limited and ceased to be a director on 25 November 2003

Mr Naresh Mahendranath Malhotra, aged 61 years, is the Chairman of PFL. A veteran in the Indian Film and Television industry, he commenced his career as an Associate Director and Controller of Production before venturing into producing on his own. He has made several films including the acclAIMed “Shahenshah”.

Mr Rivkaran Singh Chadha, aged 29 years, has an MBA in finance from Cardiff University Rivkaran is currently a Director of Prime Focus Limited and Mangal Singh Bros. Pvt. Ltd.

Mr Chandir Gidwani, aged 41 years, has over ten years experience in banking and financial services. He is a Chartered Accountant, and is the co-founder and vice chairman of Centrum Capital Limited, a diversified financial services company. Chandir is currently a Director of Centrum Capital Limited, CentrumDirect Limited, BusinessMatch Services India Private Limited, Casby Logistics Private Limited, Expressit Logistics Worldwide Limited, Ferrari Express Private Limited, Nanikrami Agro Private Limited, Ocean Express Private Limited, Rap Media Limited, and Sonchajyo Investments & Finance Private Limited. Chandir was previously a Director of Adlabs Films Limited and ceased to be a Director on 10 July 2005.

Save as disclosed above, there is no other information requiring to be disclosed under Schedule 2, paragraph (g) of the AIM Rules.

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