PTV Peertv

TIDMPTV

RNS Number : 3781B

PeerTV PLC

17 February 2011

17 February 2011

PeerTV PLC

("PeerTV" or "the Company")

Trading update and directorate change

Following the trading update issued on 1 February 2010, PeerTV (AIM:PTV) would like to clarify that the impact of the technical issues it encountered in the second half of 2010 was not limited to increased costs affecting the profitability of the Company but also had a material negative impact on sales in terms of cancelled and delayed orders, only some of which will be recuperated in 2011. As a result the Company expects revenues for 2010 to be around $5.5 million. The Company expects to be able to publish audited results for the year ended 31 December 2010 by the end of April.

The Company also announces that the following changes have been made to the board of directors:

-- Ronnie Jaegermann has resigned as CEO and as a member of the board of directors with immediate effect, and

-- Ofer Barda, currently a Non-executive Director, has been appointed as CEO

As stated in the announcement of 1 February, the Company is currently evaluating several strategic options, including that of a reverse takeover. As a consequence its shares will remain suspended under the AIM Rules until a new Admission Document is published or the Company announces that a reverse takeover is no longer being contemplated by the board.

Further enquiries:

PeerTV Plc

Eatamar Drory, Chairman of the Board +972 974 07315

Libertas Capital Corporate Finance Limited

Thilo Hoffmann/Andrew McLennan +44 (0) 20 7569 9690

Rivington Street Corporate Finance +44 (0) 20 7562 3350

This information is provided by RNS

The company news service from the London Stock Exchange

END

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