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GENERAL: IRG: Investment Research Group Ltd (IRG) announces further sale

18 Sep 2012 17:13NZX
Investment Research Group Ltd (IRG) announces further sale

The Chairman of IRG, Mr Marvin Yee, has today announced the sale of the NZ
Investor Magazine.

Mr Yee said, "I am pleased to announce that IRG has sold the NZ Investor
Magazine. This is the first media asset to be sold by IRG as part of its
restructure.  We have had difficulty in gaining interest in these assets due
to the reduction in value of media assets internationally."

Mr Brent King, Managing Director said, "This magazine is an icon in the New
Zealand publishing industry. It is being purchased by McEwen Investment
Report Ltd. David McEwen is a well-known and respected financial

"NZ Investor Magazine has been published for over 20 years .I am sure the new
owners will be able to add further value using its publishing skills and
experience," said Mr King

The purchase price is not disclosed as it is commercially sensitive and not
material to IRG.

For further Information contact

Mr Brent King
Managing Director
Investment Research Group

Mr David McEwen
McEwen Investment Report Ltd
+64 21 623 661
End CA:00227448 For:IRG    Type:GENERAL    Time:2012-09-18 17:13:09
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