Fortis Private Equity acquires 33% interest in Studio 100

Fortis Private Equity has financed an important capital raise in Studio 100 and has acquired a 33% shareholding in this fast-growing media entertainment company.

About the transaction :

Hans Bourlon, Director of Studio 100, comments: "When we started looking for a financial partner a few months ago, we hoped that it would be a Belgian company. So we are very pleased that Fortis Private Equity has placed its trust in the ongoing growth and existing structure of Studio 100."

Studio 100 has decided to open up its equity capital to a financial partner because - true to the company's tradition - it wishes to pursue growth on an independent basis. The company is also committed to remaining 100% Belgian and to becoming even more firmly entrenched in the Belgian market. Fortis Private Equity is a strong financial entity that has the experience required to help Studio 100 expand its international footprint and the willingness to work together with the company on its long-term strategy.

Studio 100 is already brimming over with plans for the future. It recently took a 50% shareholding in Ded's it Productions, with a view to expanding into entertainment programmes for adults. The company is actively pursuing international expansion, negotiating with potential partners in France, Germany and Spain. It is also considering several opportunities for opening a theme park - either indoor or outdoor - in the Netherlands. In its Belgian home market, Plopsa-Coo amusement park in Wallonia is being given a facelift and will have its first zone revamped when it opens on 31 March 2007, and Plopsaland De Panne has plans to fully renovate its entrance area and is looking into the possibility of building a hotel.

A leading provider of growth capital in the Benelux region, Fortis Private Equity has had Studio 100 on its radar screen for some time. Brigitte Boone, CEO of Fortis Private Equity says: "In the run-up to the deal with Studio 100 it was confirmed that this successful media firm's management team displayed a healthy blend of creativity, market knowledge, management skills, ambition and vision. With Fortis Private Equity on board and the Hans Bourlon/Gert Verhulst duo at the helm, Studio 100 is well positioned to steam ahead on its international course."

The transaction between Studio 100 and Fortis Private Equity involves both the purchase of shares from Hans Bourlon and Gert Verhulst and a capital injection of more than 15 million euros, giving Studio 100 a sound financial basis for further growth. The total transaction amount has not been disclosed.

About Studio 100 :

Founded in 1996 by Gert Verhulst, Danny Verbiest and Hans Bourlon, Studio 100 produces a wide range of quality entertainment for children - television, films, books, newspapers, magazines, CDs, merchandising, shows and theatre productions - all of which is developed in-house. The Studio 100 characters have become household names. Samson & Gert, Kabouter Plop, K3, Big & Betsy, Wizzy & Woppy, Piet Piraat, Bumba, Spring, Topstars and Bo & Monica all have a huge following among the young.

Studio 100 and Belgian broadcasting company VMMa opened the Plopsaland amusement park on the Belgian coast in 2000, allowing the public to meet the popular television characters up-close. Studio 100 has grown explosively in the past few years, first acquiring and revamping Plopsaland amusement park in De Panne and then opening Plopsa Indoor Hasselt, Belgium's first indoor theme park. The Studio 100 group also acquired Télécoo family park near the Coo waterfalls, changing its name to Plopsa-Coo. This park is a star attraction for the children of both Flanders and Wallonia, enabling them to play together in a fun setting.

Studio 100 has a workforce of 330 FTEs (full time equivalents) and expects consolidated sales to reach 73 million euros this year.

Studio 100 plans to keep on growing, primarily through international expansion of its entertainment activities. It also aims to continue developing new and existing characters and theme parks.

About Fortis and Fortis Private Equity :

Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners.
With a market capitalisation of EUR 41.6 billion (30/09/2006), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 58,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on www.fortis.com

Fortis Private Equity is an independent business line of Merchant, Banking. Its total direct and indirect (fund of funds) investment portfolio amounts to1.25 billion euros. Headquartered in Brussels, Fortis Private Equity operates direct investment teams in Belgium, the Netherlands, France, Spain and Asia. Fortis Private Equity is also building up a diversified fund-of-funds portfolio through indirect investments principally in buy-out and venture capital funds in North America, Europe and Asia.

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Not for publication :

For further information do not hesitate to contact

Koen Peeters (Studio 100) : 0032 (0)3 295 24 12 - [email protected]

Brigitte Boone (Fortis Private Equity) : 0032 (0)2 565 21 72 - [email protected]