Jetix Europe N.V. Announces Results for the Year Ended September 30, 2005

Jetix Europe N.V. Announces Results for the Year Ended September 30, 2005

AMSTERDAM, The Netherlands and LONDON, December 8/PRNewswire-FirstCall/ --

- Revenues[1] up by 14%[2] to $187.8 million

- EBITDA[3] increased by 28% to $65.5 million

- Operating income up by 333% to $22.3 million

- Net income increased by 239% to $19.8 million

- Diluted EPS up by 241% to 23.5 cents per share

- Channel subscribers increased by 3.5 million to 41.8 million households

- Operating cash flow maintained at $30.9 million

- Financial position strong with $124.3 million cash balances and no debt

Jetix Europe N.V. (Jetix Europe or the Company, "we", "our"), formerly
Fox Kids Europe N.V., (AMEX: JETIX; Reuters JETIX.AS; Bloomberg: JETIX.NA),
a leading pan-European integrated kids' entertainment company, today
announced its financial results for the year ended September 30, 2005.
Revenues increased by 14%, compared with the year ended September 30, 2004,
to $187.8 million and net income increased by 239%, up $13.9 million, to
$19.8 million. After adjusting for the non-recurring costs of relocating our
UK and French operations incurred in 2004, net income increased by 45% from
$13.6 million. Subscribers increased by 3.5 million to 41.8 million
households in 58 countries as at September 30, 2005.

Paul Taylor, Chief Executive Officer (CEO) said: "I am
delighted to be announcing another strong set of results from Jetix Europe.
This has been a year of change for the Company and I am pleased that through
this period of transition we have succeeded in delivering on our financial
targets as well as laying the foundations for continued growth into the
future.

Last year we announced that we were creating a new programming
brand with our parent, The Walt Disney Company (Disney), centred on our new
name and brand - Jetix. This year has seen the completion in Europe and the
Middle East of the first phase of this alliance with the transition to our
new name across all of our operations; television, on-line, new digital media
and our ancillary activities. We are excited to see that Disney has also
launched the Jetix brand in the U.S., Latin America and Asia, making us a key
player in the development of a truly global kids' phenomenon.

It is also good to see that our strategy of introducing the
new brand gradually, through Jetix branded blocks which preceded the full
channel renaming, has worked well. The new brand has become firmly
established across Europe and the Middle East with our audiences, commercial
partners, advertisers and distributors.

As I highlighted when I became CEO, content is at the heart of
our company. This year we have significantly improved our production
pipeline, with a focus on developing fewer, higher quality properties. Our
content strategy is centred on ownership, either in partnership with our
parent company or the best independent producers around the world. This
strategy enables our team to be heavily involved in the creative direction of
each property early on in development. This strategy also more effectively
sets us up to participate in the financial rewards of hit franchises.

This has been the first full year of our programme alliance
with Disney, and during the period we have seen delivery of the first shows
which were developed specifically for the Jetix brand. The uniquely named
Super Robot Monkey Team Hyperforce Go!, and the soon to be aired Get Ed were
produced by Disney's Television Animation division (TVA). It is also
important to note that the content alliance with Disney is a two way process.
The Jetix Europe led co-production of W.I.T.C.H. with SIP Animation (SIP) in
France has aired across our channels in Europe as well as the Disney owned
Jetix networks and programme blocks in North America, Latin America and Asia.
In addition, since the end of the fiscal year, we have sold two of our
flagship co-productions to Jetix in the U.S., A.T.O.M. (Alpha Teens On
Machines) and Oban Star-Racers (co-production with Sav! the World). The
success of these shows has already allowed us to commission second seasons of
Super Robot Monkey Team Hyperforce Go!, W.I.T.C.H. and A.T.O.M. (Alpha Teens
On Machines).

The improved quality of our programming can also be seen in
the first signs of recovery in our programme distribution division, where we
work with Disney's Buena Vista International Television (BVITV), Europe's
leading kids programme distribution company. Despite receiving fewer new
episodes this year we managed to grow our profits, and I am confident that as
our programme pipeline continues to improve we will see further growth in
this division.

Our consumer products division built on last year's success
with another excellent year. Power Rangers continues to exceed our
expectations, supported by the strength of the Disney Consumer Products
division (DCP), and our home entertainment business has delivered outstanding
results following the internal reorganisation which focused resources on this
area.

During the year we have also pushed through changes in our
corporate management structure, as well as welcoming Dene Stratton as our new
Chief Financial Officer. I believe that all of this year's changes, and the
new focused management team, has given the company a new momentum. We are
well positioned for the next stage in our development and I remain confident
that we will continue to rise to the many challenges and opportunities of the
fast changing media world in which we operate."

Dene Stratton, Chief Financial Officer, added "We are very
pleased with the year's results, both on an earnings and cash flow basis. The
Company achieved strong earnings growth in a year of significant transition,
including our renaming effort and management restructuring. I am also pleased
that we have been able to reverse the recent trend in our distribution
business, and achieved modest growth. Finally, I would like to note that our
operating cash flow remained strong despite increased investment in content."

OPERATING REVIEW

Channels and Online

- All of the channels have been renamed as Jetix

- Channel subscribers increase by 3.5 million to 41.8 million
households

- Channels broadcasting in 58 countries via 15 channel feeds
in 18 languages

- Key channel distribution deals renewed

- Strong advertising growth in most markets

- Launch of new channel franchise in Italy - GXT

- New media trials underway on mobile and ADSL VoD

During the year the key focus for the channels and online
division has been the renaming of our TV channels and websites to Jetix. The
renaming began in the prior financial year with our French channel in August,
and since then the rest of our feeds have changed to Jetix. The majority
transitioned in January, with our German channel being the last to change in
June 2005. We supported the renaming with a wide range of marketing
activities, from special launches to Jetix branded touring events, all
supported by major on-air and online campaigns.

The new brand has become firmly established with our
audiences, and has also built a strong presence with our commercial partners.
The transition highlighted the successful overall strategy we pursued, with
the initial launch of branded blocks to introduce our audiences to the new
name, followed by the rolling out of the change across our whole channel
network.

The channels have continued to expand their distribution
during the year and at the year end we reached 41.8 million households, up
3.5 million households. This has maintained our position as one of the
leading kids' television channels across Europe and as at September 30, 2005,
we reached 58 countries, through 15 channel feeds broadcasting in 18
languages.

During the year we have renewed key deals with pay-tv
platforms, securing distribution of our channels into the future. Key deals
renewed were with Sky Italia in Italy, NTL and Telewest in the U.K.,
Sogecable in Spain and a number of deals in Eastern Europe.

Advertising revenue has grown at more than 15% in all of our
markets except the U.K. and the Netherlands. On two of our channels, Central
and Eastern Europe and Poland, advertising more than doubled, whilst in the
U.K. and the Netherlands advertising was broadly in line with last year. In
the Netherlands we have defended our market leading position against a strong
new market entrant, and in the U.K., our most competitive market, we
maintained our position.

In May 2005 we launched a new channel brand in Italy, GXT. GXT
targets an older "teen" audience with a mix of irreverent humour and edgy
programming. To date, the channel has performed strongly and has
significantly improved our demographic reach, opening up the opportunity to
develop new advertising clients. We are hopeful that this format will have
significant potential in the future.

During the period the market for digital media has continued
to develop rapidly. We are working with a number of partners to trial new
services and to ensure we are present wherever new opportunities are
emerging. In France we have two deals in place to distribute our channel over
mobile phones. Trials with Orange and SFR began in June and early performance
has been positive. In Germany we secured carriage within T-Online's video on
demand ADSL service which distributes some of our most popular library shows,
and in the UK our channel is being carried on the Homechoice ADSL service.

Programme Distribution

- Revenue marginally up, reversing recent trend

- Strong on-air performance of key shows

- New branded block, volume and package deals

- 137 episodes of new programming delivered

- Significant improvement in programme pipeline with 244 episodes in
production, up 102 from September 30, 2004

We are pleased that programme distribution revenue has
increased for the first time in recent years. We achieved this despite a
significant reduction in the number of episodes delivered compared with the
prior year. This has been achieved through a concerted focus on the quality
of programmes that we have been producing, and our long term strategy of
moving from acquired programming to co-productions, in which we have
significant ownership and creative influence. The improvement is also due to
the global scale and industry relationships which BVITV brings to servicing
our distribution operation.

The quality of our programming is highlighted by the on-air
performance of a number of our key franchises during the year, both old and
new. Power Rangers maintained its market leadership position, airing in all
five of the major European markets and leading its timeslot with the highest
kids ratings in four of them[4]. On the back of the most recent movie,
Spiderman returned as one of our best selling properties, airing in all five
major European markets and was the most popular programme with boys in all
markets for its timeslot. Our new shows also sold well with W.I.T.C.H.
selling in 17 countries and Sonic X selling in 19 countries. In the four
major markets where W.I.T.C.H. aired it was number one or two in its timeslot
amongst kids and Sonic X was number one for boys in its timeslot in the three
major markets in which it aired.

During the period we have sold a new branded block and a
number of notable volume and package deals[5]. A new branded block deal has
been signed with Polsat in Poland, which complements the blocks we already
have in Germany, Russia, Czech Republic and a number of other emerging
markets. New volume deals have been signed in the U.K., Ireland and Belgium;
and major package deals have been signed in Italy, Greece, Turkey and Finland
amongst others.

We have taken delivery of 137 new episodes during the period.
This included the initial season of our first co-production with Disney's
Television Animation (TVA) unit in the U.S., Super Robot Monkey Team
Hyperforce Go!, as well as co-productions with other studios. This year we
have received the first seasons of W.I.T.C.H. and A.T.O.M. (Alpha Teens on
Machines) from SIP in France; and acquired new series of programming such as
Sonic X. We have also received the latest season of our flagship property,
Power Rangers.

The number of episodes we have in production has significantly
increased to 244, up 102 episodes from September 30, 2004. New productions
entered into during the period include both new seasons of our successful
properties, Power Rangers, Super Robot Monkey Team Hyperforce Go!, W.I.T.C.H.
and A.T.O.M. (Alpha Teens on Machines), as well as new original properties
such as Get Ed, Pucca and a new "mystery" live action production. Get Ed is a
new co-production with Disney's TVA in the U.S., and follows the adventures
of Ed, a boy genetically created from an ancient artefact, who works as a
surreptitious cybersleuth, foiling identity thefts and other information
based crimes whilst toiling at a futuristic messenger service. Pucca has
developed from our strong consumer products franchise, and is a kiss-chase
meets kung-fu comedy following the exploits of Pucca, the daughter of a
Chinese restaurant owner, and Garu, a loyal ninja student. Our new "mystery"
live action series will launch next year at MIP TV and is a hybrid between
live action and CGI production techniques.

Also in production at the period end was Oban Star-Racers, our
26 episode epic co-production with Sav! the World, Super RTL and France 3.
This was recently launched at the MIPCOM TV buying market and has generated
significant early interest.

Consumer Products

- Strong revenue and profit growth

- Power Rangers, represented by Disney Consumer Products,
performing well

- Pucca licensing agency agreement improved and extended on
the back of strong performance

- Sonic X developing well across the region

- Home entertainment significantly increased sales

- New management structure has improved focus

We exploit our consumer products properties through a dual
strategy. We have an in-house division, Jetix Consumer Products (JCP) which
represents almost all of our properties, and we have leveraged the global
reach of Disney through DCP to distribute our global hit property, Power
Rangers, and through Buena Vista Home Entertainment (BVHE) to distribute some
of our biggest selling home entertainment titles.

Power Rangers has again grown strongly with our royalty
revenue from DCP up more than 40%. Retail sales have increased in all of the
major European markets, and more than doubled in Germany and Italy[6]. Action
figures remain the largest category, and despite strong competition from Star
Wars, Power Rangers ranked in the top five properties in four of the five
major markets. There has also been a focus on developing new products outside
of the core areas, and this has led to strong growth in a number of smaller
categories, including youth electronics and communications, sports toys and
ride-ons. Power Rangers has also become firmly established as a core
franchise within the Disney stores.

Within the properties represented by JCP, Pucca and Sonic X
have been particularly strong. Pucca has developed into a uniquely
distinctive brand with strong categories including fashion and apparel, as
well as stationery and accessories. Following its success as a consumer
products property, Jetix is developing Pucca into a TV series. Together with
securing the Pucca TV rights from Vooz, we have extended our consumer
products licence period for a further 20 years, ensuring that we benefit from
the value created by the TV exposure. The terms of our agency representation
were also improved.

Sonic X, our major acquisition, has been licensed across a
wide range of territories. The master toy license is developing well with
product launched across the region, and the character has been signed for a
broad range of merchandise. On the back of this success we have increased the
range of rights we are representing.

The Jetix brand has also demonstrated its potential and strong
early recognition by establishing itself as one of our leading licensing
properties. Jetix branded items include magazine publishing, CD compilations,
supermarket promotions and the use of the Jetix logo on a range of items from
cycle helmets and bean bags through to ice cream.

The performance of our home entertainment business has been a
notable highlight, with a strong performance from both our in-house operation
and the titles distributed by BVHE (Power Rangers and a number of our Marvel
titles). Power Rangers has maintained its perennial popularity, and the
Marvel titles have increased sales, leveraging the interest generated by the
release of the Spiderman and Fantastic Four theatrical movies.

Within JCP, a dedicated unit has been set up to focus on
building our home entertainment activities. This new division has had an
excellent start, more than doubling revenues year on year. This success has
been driven by both new and library titles, Sonic X has been licensed in 24
countries, including four of the five major European markets, and there has
been a significant increase in multi-property deals where a number of our
library titles are licensed together as packages.

We have continued to expand the range of properties we
represent and during the period have taken on the rights for our new
"mystery" live action series, and we also control the consumer product rights
within our region for our major co-production Oban Star-Racers.

FINANCIAL REVIEW

Revenues

Revenue increased by 14% to $187.8 million against the prior
year. Channels and online grew revenue by 14% to $144.5 million, with
subscription revenue increasing by 13% to $94.0 million and advertising
revenue increasing by 14% to $47.1 million. Other channel and online revenue,
mainly live events, research and interactive, was up 13% at $3.4 million. The
primary drivers of growth in channel and online revenues were increased
distribution of our channels, strong advertising growth, notably in Italy,
CEE and Poland, and the weakening of the dollar against the euro and the
pound.

Programme distribution revenues, serviced by BVITV, increased
by 1% to $24.9 million. As reported in our half-year results, revenue was
weighted towards the second half of the year, with 65% of revenue in this
period. This is due to the timing of programme deliveries during the period
rather than any seasonal factor. Programme distribution revenues have
increased slightly despite a substantial fall in the volume of programming
being delivered. This has been driven by the strong performance of our new
programming, notably Power Rangers and W.I.T.C.H., as well as strong sales of
older titles, particularly Spiderman.

Our consumer products revenues grew strongly, increasing by
38% to $18.4 million. This was driven by a strong performance from Power
Rangers, represented by DCP, as well as significant growth in our home
entertainment division, both in-house and the properties distributed by BVHE.

Costs and Expenses

Costs and expenses increased by 7% to $122.4 million.
Excluding the non-recurring relocation expenses in the prior year, costs rose
by 14% from $107.3 million. The primary reasons for the increase in costs
included a provision for indirect taxes, the weakening of the dollar against
the euro and the pound, and increased costs in our consumer products
division. Consumer products cost increases were driven by an increased agency
fee on one of our properties and an accrual of third party costs primarily
attributable to prior periods, which we announced in our interim statement.

Other cost increases were attributable to the upgrading of our
broadcasting facilities, a provision for settlement of pending legal claims
and marketing spend associated with the renaming of our channel and online
businesses, partly offset by reduced programme distribution costs due to the
lower volume of new episodes delivered.

EBITDA[7]

EBITDA increased by 28% to $65.5 million. This represents an
increase of 13% on prior year adjusted for non-recurring relocation costs.
Channel and online EBITDA increased by 37% (21% after adjusting for
non-recurring costs) to $57.6 million. This was driven by subscription and
advertising revenue growth being only partially offset by cost increases
primarily due to foreign exchange changes, increased technical and increased
marketing costs. Programme distribution increased EBITDA by 10% (9% after
adjusting for non-recurring costs) to $17.1 million as costs were reduced due
to the lower volume of new programming delivered, and consumer products
increased EBITDA by 23% (15% after adjusting for non-recurring costs) to $6.3
million, with strong revenue growth partially offset by increased costs from
the increased agency fees and the accrual described above. The change in
shared costs not allocated to segments was primarily the result of a
provision for indirect taxes.

Amortisation, Impairment and Depreciation

Programme amortisation and impairment fell by 3% to $41.7
million. This is largely due to a significantly larger impairment charge in
the prior period versus the current year, offset by an increase in
amortisation from increased revenue in our channels and online and consumer
products divisions.

Depreciation and impairment fell by 48% to $1.4 million. This
is due primarily to the asset write-off in the prior year, associated with
our relocation. There has also been a slight increase in fully depreciated
assets, which has reduced our overall depreciation rate.

Financial Income

Financial income increased by 142% to $2.4 million due to
higher cash balances during the period compared with prior year, and higher
interest rates.

Income Before Tax and Minority Interest

Income before tax and minority interest increased by 243% from
$7.6 million to $26.1 million. This is primarily due to increased EBITDA
discussed above, as well as reduced amortisation and depreciation and
increased financial income.

Taxation

The effective tax rate was 23% compared with 26% in the prior
fiscal year. The income tax charge for the year comprised income, withholding
and capital taxes payable amounting to $3.0 million, and a deferred tax
charge of $3.0 million.

Minority Interest

Minority interest fell by $0.6 million to an expense of $(0.4)
million as our Polish channel operation moved into profitability.

Earnings per Share

Basic earnings per share increased by 234% to 23.7 cents per
share from 7.1 cents per share. Diluted earnings per share increased by 241%
to 23.5 cents per share from 6.9 cents per share. These gains were due to the
increase in income referred to above, with no significant change in the
weighted average number of shares outstanding.

Cash Flow

Operating cash flow remained at $30.9 million. Strong growth
in operating income was offset by the combination of increased investment in
content and the non-recurrence of a working capital benefit associated with
the office relocation in the prior year.

Cash and cash equivalents increased by $38.3 million. This
resulted primarily from operating cash flow and the exercise of employee
stock options.

OUTLOOK

For financial year 2006 we expect revenue growth in the low
double digits and EBITDA growth of 15% or above.

REPORTING CURRENCY

Due to the growing significance of our channel and online
business which incurs most of its revenues and expenses in euros, and the
introduction of the euro which has led to an increase in usage in currencies
other than the dollar, we expect the euro to be the currency in which most of
our revenues and costs will be originated for the foreseeable future.
Therefore for the fiscal year ending September 30, 2006 we will be changing
our reporting currency to the euro.

CHANGE TO IFRS

The company's primary financial reporting is on a U.S. GAAP
basis. Listed companies in the European Union (E.U.) must adopt and apply
International Financial Reporting Standards (IFRS) to their consolidated
financial statements for fiscal years beginning in 2005 (our fiscal year
ending September 2006).

Preparing for the transition, we have drawn up plans for
implementation, made surveys of differences between U.S. GAAP and IFRS,
prepared a preliminary October 1, 2004 opening balance sheet and started the
process of implementing necessary changes in systems and routines.

Significant differences between current U.S. GAAP and IFRS
reporting may include, but are not limited to, programme amortisation and
impairment, proportional consolidation of uncontrolled subsidiaries and
expensing of stock based employee compensation (also required under U.S. GAAP
for fiscal 2006).

CORPORATE GOVERNANCE

We became subject to the Tabaksblat Code of Corporate
Governance (the Code) from October 1, 2004. We were already compliant with
the majority of the Code's principles and best practice recommendations. It
is the intention of the Company's Boards that this level of compliance will
continue to increase and that we will be generally compliant with the
provisions of the Code.

A Compliance Policy has been drawn up and approved by our
shareholders in the Annual General Meeting of March 31, 2005 together with a
Management Board Remuneration Policy and a set of changes to the Company's
Articles necessary to implement the Code. The Compliance and Management Board
Remuneration Policies are available for inspection on our corporate website
(www.jetixeurope.com). The report of the Supervisory Board and their
Remuneration Report will address how the above policies have been implemented
during this year and will be included in the annual report.

Jetix Europe N.V.

Consolidated Statement of Income

for the years ended September 30, 2005 and September 30, 2004

In US $'000 Year to Year to Year to Year to

30 30 30 September 30
September September September
2004
2005 2004 2004
Non-recurring

Relocation

Charges[8]
Pro
forma[9]
REVENUES 187,838 165,345 - 165,345

Costs and expenses (122,371) (114,394) (7,097) (107,297)

EBITDA 65,467 50,951 (7,097) 58,048

Programme (41,748) (43,008) - (43,008)
amortisation and
impairment
Depreciation and (1,443) (2,796) (912) (1,884)
impairment

Operating income 22,276 5,147 (8,009) 13,156

Financial income 2,437 1,005 - 1,005
and expense, (net)
Gain on foreign 593 648 - 648
exchange
Equity in income of 787 810 - 810
affiliates

Income before tax 26,093 7,610 (8,009) 15,619
and minority
interest

Tax (5,960) (1,972) 254 (2,226)

Minority interest (374) 190 - 190
(expense) / income

NET INCOME 19,759 5,828 (7,755) 13,583

Jetix Europe N.V.

Earnings per Share

for the years ended September 30, 2005 and September 30, 2004

Cents per share Year to Year to Year to
30
30 September 30
September September
2004
2005 2004

Pro
forma[10]

Basic Earnings per share 23.7 7.1 16.4
Diluted Earnings per share 23.5 6.9 16.1

Basic weighted average 83,502 82,618 82,618
number
of ordinary shares
outstanding, in thousands

Diluted weighted average 84,065 84,156 84,156
number
of ordinary shares
outstanding, in thousands

Jetix Europe N.V.

Consolidated Balance Sheet

as at September 30, 2005 and September 30, 2004

In US $'000 30 September 30 September
2005
2004
Assets

Cash and cash equivalents 124,278 86,022
Accounts receivable net of allowances 61,988 49,051
Prepaids & other assets 6,391 5,798
Amounts due from related parties 12,539 20,412
Programme rights, net 112,366 116,207
Investments in equity affiliates 1,486 2,134
Property and equipment, net 2,174 3,054
Deferred income taxes 9,092 12,101
Goodwill, net 28,016 28,016

Total Assets 358,330 322,795

Liabilities, Minority Interests &
Shareholders' Equity

Accounts payable 12,337 10,253
Accruals, deferred revenues and other 60,748 63,068
payables
Amount due to related parties 23,363 10,477
Other liabilities 10,847 16,200
Minority Interests 1,720 1,184

Total Liabilities and Minority Interests 109,015 101,182

Ordinary shares 21,876 21,629
Additional paid in capital 457,170 449,751
Other reserves (204,114) (204,114)
Accumulated other comprehensive income 6,752 6,475
Accumulated deficit (32,369) (52,128)

Total Shareholders' Equity 249,315 221,613

Total Liabilities, Minority Interests & 358,330 322,795
Shareholders' Equity

Jetix Europe N.V.

Consolidated Cash Flow Statement for the

years ended September 30, 2005 and September 30, 2004

In US $'000 Year to Year to

30 September 30 September

2005 2004
OPERATING ACTIVITIES
Net income 19,759 5,828

Adjustments to reconcile net income to net
cash flows used in operating activities:
Depreciation and impairment 1,443 2,796
Programme amortisation and impairment 41,748 43,008
Provision for doubtful debts (341) (472)
Equity in income of affiliates (787) (810)

Dividends from equity affiliates 1,500 -
Minority interest (expense) / income 374 (190)
Deferred tax 3,009 (1,331)

Changes in operating assets and liabilities
Working capital 2,804 12,898
Non-current assets and liabilities (717) 3,126
Programme rights (37,907) (33,990)
Net cash flows generated by operating 30,885 30,863
activities

INVESTING ACTIVITIES
Purchases of property and equipment (669) (1,169)
Net cash flows used in investing activities (669) (1,169)

FINANCING ACTIVITIES
Issuance of ordinary shares upon exercise of 7,666 4,295
stock options
Net cash flows provided by financing 7,666 4,295
activities

NET INCREASE IN CASH AND CASH EQUIVALENTS 37,882 33,989
FROM OPERATING, INVESTING AND FINANCING
ACTIVITIES

NET INCREASE IN CASH DUE TO FOREIGN CURRENCY 374 583
FLUCTUATIONS

NET INCREASE IN CASH AND CASH EQUIVALENTS 38,256 34,572

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 86,022 51,450

CASH AND CASH EQUIVALENTS, END OF YEAR 124,278 86,022

Jetix Europe N.V.

Operating Results by Business Segment for the

years ended September 30, 2005 and September 30, 2004

In US $'000 Year to Year to Year to Year to

30 30 30 September 30
September September 2004 September
2005 2004
Non-recurring 2004

Relocation

Charges[11]

Pro
Forma[12]
BUSINESS SEGMENT

Revenues
Channels and online 144,547 127,332 - 127,332
Programme distribution 24,852 24,681 - 24,681
Consumer products 18,439 13,332 - 13,332
Total Revenue 187,838 165,345 - 165,345

EBITDA

Channels and online 57,552 42,118 (5,534) 47,652
Programme distribution 17,090 15,551 (162) 15,713
Consumer products 6,335 5,170 (361) 5,531
Shared costs not allocated (15,510) (11,888) (1,040) (10,848)
to segments
65,467 50,951 (7,097) 58,048

Operating Income

Channels and online 26,875 13,565 (6,247) 19,812
Programme distribution 8,583 2,256 (188) 2,444
Consumer products 2,401 1,508 (418) 1,926
Shared costs not allocated (15,583) (12,182) (1,156) (11,026)
to segments
22,276 5,147 (8,009) 13,156

Jetix Europe N.V.

Operating Results by Geographic Segment for the

Years ended September 30, 2005 and September 30, 2004

In US $'000 Year to Year to Year to Year to

30 30 30 September 30
September September 2004 September
2005 2004
Non-recurring 2004

Relocation

Charges[13]
[14]
Pro
forma[15]
GEOGRAPHIC SEGMENT
Revenues
United Kingdom and Ireland 55,505 49,567 - 49,567
Italy 24,182 18,018 - 18,018
Benelux 21,286 20,217 - 20,217
France 21,115 20,510 - 20,510
Central and Eastern Europe 15,599 13,690 - 13,690
Germany 15,403 13,813 - 13,813
Spain and Portugal 9,608 9,031 - 9,031
Middle East 8,433 8,106 - 8,106
Nordic Region 8,653 6,944 - 6,944
Poland 6,314 3,738 - 3,738
Other 1,740 1,711 - 1,711

Revenue 187,838 165,345 - 165,345

EBITDA

United Kingdom and Ireland 33,434 25,915 (1,999) 27,914
Italy 10,309 7,765 - 7,765
Benelux 7,057 7,985 - 7,985
France 6,223 4,812 (1,197) 6,009
Central and Eastern Europe 3,956 2,976 (1,452) 4,428
Germany 5,921 3,981 - 3,981
Spain and Portugal 5,545 4,944 - 4,944
Middle East 2,636 2,871 - 2,871
Nordic Region 2,105 732 (912) 1,644
Poland 2,594 (231) (497) 266
Other 1,197 1,089 - 1,089
Shared costs not allocated (15,510) (11,888) (1,040) (10,848)
to segments
EBITDA 65,467 50,951 (7,097) 58,048
Less: depreciation, (43,191) (45,804) (912) (44,892)
amortisation and impairment

Operating income 22,276 5,147 (8,009) 13,156

(c) 2005 Jetix Europe. JETIX name and logo (c) and (TM) Disney
Enterprises, Inc.

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[1] Throughout this release, revenues exclude our share of
non-consolidated joint ventures. In order to facilitate comparison with our
prior releases, revenue including our share of non-consolidated joint
ventures was $193.1 million, compared to $170.7 million in the year ending
September 30, 2004.

[2] All comparisons and percentage changes are stated versus the year
ending September 30, 2004.

[3] Consistent with prior years, EBITDA is stated before
programme amortisation, impairment and depreciation. EBITDA less programme
amortisation, impairment and depreciation is equal to Operating Income.

[4] Source : B.A.R.B. in UK; Mediametrie in France, Spain and Germany;
AGB Italia - Italy; all sources cover the key kid demographic in all
television households; time period covers when the programmes aired between
October 1, 2004 and September 30, 2005.

[5] A volume deal is when a broadcaster agrees to buy a defined volume of
programming over a number of years with some programmes undefined, versus a
package deal when one or more specific titles are acquired.

[6] Source : NPD Group / Eurotoys / EPoS Tracking Service

[7] Consistent with prior years, EBITDA is stated before
programme amortisation, impairment and depreciation. EBITDA less programme
amortisation, impairment and depreciation is equal to Operating Income.

[8] Charges recognised during the prior year in respect of the
relocation of our UK and French based operations to Disney's premises within
these markets. The charges recognised include a provision in respect of the
anticipated costs of disposing of our existing lease commitments, I.T.
reconfiguration, move costs, additional depreciation charges incurred as a
result of the relocation as well as redundancy costs resulting from the
contracting out of certain functions to Disney.

[9] Pro forma results are stated after excluding non-recurring relocation
charges

[10] Pro forma results are stated after excluding non-recurring
relocation charges

[11] Charges recognised during the prior year in respect of
the relocation or our UK and French based operations to Disney's premises
within these markets. The charges recognised include a provision in respect
of the anticipated costs of disposing of our existing lease commitments, I.T.
reconfiguration, move costs, additional depreciation charges incurred as a
result of the relocation as well as redundancy costs resulting from the
contracting out of certain functions to Disney.

[12] Pro forma results are stated after excluding non-recurring relation
charges.

[13] Charges recognised during the prior year in respect of
the relocation of our UK and French based operations to Disney's premises
within these markets. The charges recognised include a provision in respect
of the anticipated costs of disposing of our existing lease commitments, I.T.
reconfiguration, move costs, additional depreciation charges incurred as a
result of the relocation as well as redundancy costs resulting from the
contracting out of certain functions to Disney.

[14] Our channel and online operations covering Central and
Eastern Europe, Scandinavia and Poland have been allocated a share of the
relocation charges as they are based in the U.K..

[15] Pro forma results are stated after excluding non-recurring
relocation charges.

Source: Jetix Europe N.V.

Contact details: Polly Faber, Press and PR Assistant, Jetix Europe, Tel: +44-(0)20-8222-5925, Email Polly.Faber@jetix.net

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