The following is a brief overview of Milestone's main corporate activities since the Company's admission to AIM in July 2003:

Admission to AIM Milestone was admitted to AIM 1/7/03. The company originally had three separate divisions - a publishing division, a radio division and a television division, each with its own subsidiary companies.

OBL acquisition Milestone completed the acquisition of the 10 per cent shareholding of Oxford Broadcasting Limited it did not already own on 3/11/03.

London disposal Milestone completed the disposal of its two non-core radio stations (Time FM & Fusion 107.3 FM) in South East London on 14/1/04.

Local TV acquisition Milestone acquired the licenses and assets of My TV Network Limited (Southampton and Fawley, two separate licenses but providing the same service) and Portsmouth (an Ofcom license held but not broadcasting) on 5/4/04. A further agreement to purchase some television broadcasting equipment was entered into on 28/6/04.

Placing Milestone announced it was raising a further £1.1 million through a placing of 5.5 million new ordinary shares on 17/2/05.

Reading 107 disposal Milestone announced it had sold its minority shareholding in Reading 107 FM on 25/8/05.

Kick/Kestrel disposal Milestone completed the disposal of its majority shareholdings in Kick FM (Newbury) and Kestrel FM ( Basingstoke ) on 17/2/06.

Rugby disposal Milestone completed the disposal of its majority shareholding in Rugby FM on 28/2/06.

Passion disposal Milestone completed the disposal of its 100 per cent shareholding in Passion Radio ( Oxford ) on 8/6/06.

Property Weekly disposal Milestone completed the disposal of the Property Weekly series of newspapers (Oxfordshire & West Berkshire) on 11/9/06.

Tri Media disposal Milestone completed the disposal of the remainder of its publishing division on 15/9/06.

The Flex Milestone acquired 80 per cent of the issued share capital of The Flex (International) Limited on 15/1/08 and, following a strategic review, disposed of this holding 3/9/08.

Capital reorganisation and Subscription On 1/8/08 Milestone implemented a capital reorganisation and subscription for new shares and loan notes raising £300,000 and putting in place new authorities enabling the Board to undertake further subscriptions to support the future development of the Company.

Sports venture shareholders agreement On 29/09/08 the Company announced its wholly-owned subsidiary, Milestone Media Limited, had entered into an agreement to launch a new company, Nexstar League Limited, with Enrich Social Productions Limited. In the Company's annual report and accounts for the year ended 30 September 2008 Milestone announced its intention to proceed with this venture as a wholly-owned subsidiary.

Oxford Broadcasting Limited On 31/03/09 the Company announced it was closing the non-core analogue terrestrial local TV service in Oxford operated by its subsidiary, Oxford Broadcasting Limited, in order to focus on seeking to develop other opportunities in media production.

Small subscriptions The Company has undertaken a series of small subscriptions to provide working capital to support the Company's development. Details of small subscriptions in the last 12 months can be viewed HERE.