EXTREME MOVES ONTO THE HIGH STREET

Extreme Group is pleased to announce the acquisition of the business of Legends Surf Shops Plc. Extreme Group (www.extrememediagroup.com) who own and run Extreme Sports Channel and Extremepie.com, Europe's leading online and mail order surf, skate and snow retailer, were backed by Aspen Capital in the deal.

Initially the companies' intentions are to focus on sales, customer service, range and stock management. The shops will also be re-branded using the well-known "Extreme" name and logo (from the Extreme Sports Channel). With a focus on customer service and fulfilling the needs of the millions of surfers, snowboarders, skateboarders and BMXers in the UK, the business will offer everything you need from board shorts to bikinis, flip-flops to beanies - the best range available - on or offline. The chain will be known as Extreme Shops.

The initial objective is to integrate the Legends stores into the Extreme Group and consistent with its other operations, the stores will be supported by the Extreme brand and its values, and marketed through the Extreme Sports Channel and other relevant channels to drive sales.

Al Gosling, CEO of Extreme Group commented: "The overall goal is to build a significant retail chain in our sector, fully integrated with our existing TV, internet and mail order operations. Aspen have provided capital to acquire this business, and have further funds available to ensure that we can achieve our goals. We are grateful to the previous owners of the Legends stores who have done a remarkable job in building this sector. We wish them well, and hope to work with them in the future in whatever way we can."

Kent Phippen of Aspen Capital Group commented "We have made this investment working alongside Extreme Group because we believe in the very strong management team, the Extreme brand and this market, which presents an exciting growth opportunity. We are looking forward to significantly expand the business."

A first class MD, Steve Hazell, has been appointed to lead the growth of Extreme Shops, and brings over 20 years of retail and operational management to the business. His last role prior to joining was as a director of Snow+Rock, where he played a key role in taking the company from a small 4 store operation to a 13 store, £30m turnover sector leader in snows ports and outdoor pursuits.

Steve commented: "This is the result of 6 months of hard work in which we have identified the potential of the Legends business and built, tested and refined a plan to grow it. I am very glad that we have been able to reach this point, and thrilled to be involved with such a positive, dynamic and capable team, at an exciting time for this sector of the retail market. The opportunity to work with such a strong brand gives us a unique opportunity to establish dominant sector positioning in a shortened time frame."

The deal was led by Extreme Group's management team Al Gosling, Adam Oliver and Guy Pettigrew, and backed by capital from Kent Phippen and Warren McInteer of Aspen Capital Group.

Legends Surf Shops plc is currently in administrative receivership, and the joint administrative receivers, Nick Miller and Ian Robert of Kingston Smith & Partners LLP, said "we are pleased that a nationwide known business such as this could be sold in a way which will preserve jobs and allow the business to develop into the future".

Further details on the transaction will be released shortly.

Extreme Retail is the retail division of the Extreme Group, and is a multi channel retailer selling via mail-order online, TV shopping and now via the High Street.

Extremepie.com: the online surf skate snow store Extremepie.com (www.extremepie.com) was launched in July 2001, and is now Europe's most successful online and mail order surf / skate / snow shop. Established to cater for the needs of millions of surfers, snowboarders, skateboarders and BMXers worldwide, it operates from a state of the art warehouse, and houses over 80 brands including Quiksilver, Roxy, Ex-Gear, Billabong, Hurley, Animal, Vans, DCs and Osiris, mixing the big, high-demand brands with some lesser known innovators. From 2004 onwards, Extremepie.com are actively rolling out across Europe and operating online stores for a number of the world's leading surf skate and snow brands.

Extreme Shops is a new high street shop chain, established from the recently acquired assets of Legends Surf Shops PLC. Offering a similar range, and the great customer service that Extremepie.com offers, Extreme Shops will be the newest freshest chain to hit the UK high street.

Information on Aspen Capital Group Aspen Capital Group (ACG) is involved in development, operation and investment in health care and other activities. It has healthcare investments in the US and the UK. This is ACG's first venture into the retail sector. ACG is 100% owned by Kent Phippen and Warren McInteer.

Extreme Retail http://www.extremepie.com

Extreme Group http://www.extrememediagroup.com