SANCTUARY Holds Talks With Potential Buyers

June 3, 2005

Reuters is reporting that Sanctuary Group, the music company which handles artists such as GUNS N' ROSES, IRON MAIDEN, SLIPKNOT and SLAYER, said on Friday (June 3) it had held talks over a possible offer for the firm.

"The company confirms that there have been preliminary talks which may or may not lead to an offer or a further business opportunity," Sanctuary said in a statement.

"(It) notes that during the past 12 months, and indeed on a continuing basis, it has had exploratory discussions with a number of third parties about a wide range of future potential business development and investment opportunities", Sanctuary added.

Sanctuary shares closed at 43-1/2 pence on Thursday, giving the company a stock market value of around 160 million pounds.

A source familiar with the matter said Sanctuary had received several approaches from venture capital companies, including some based in the United States, and added that music industry companies could also be interested in Sanctuary.

Sanctuary's music catalogue has had recent album successes from English singer MORRISSEY and U.S. rock band THE STROKES. Sanctuary also runs an artist management business, where its clients include heavy metal outfits IRON MAIDEN and GUNS N' ROSES.

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