TVSN LIMITED (TVN)

name changed to TVN Corporation Limited

the Deed of Company Arrangement is fully effectuated

company advises that the resolutions contained in the Notice of General Meeting were approved at the meeting of shareholders held today on a show of hands - the company also releases its new constitution

company provides notice of annual general meeting to be held at 10:00am on 15/1/2007 at the History Function House Room, 133 Macquarie St Sydney

ASIC grants relief from compliance with certain financial reporting requirements

deed administrators have executed an agreement to sell the listed shell - it is expected the shell will be re-listed on the ASX by the end of the year

liquidator's examinations of TVSN directors begin

the Deed administrators are currently in negotiations that may lead to the recapitalisation of the company

Deed Administrator advises that he is unable to confirm the current value of shares (while admitting it is unlikely there will be a return) - they may potentially have value if there is a sale of the shell and a recapitalisation - he anticipates that he should know if that is going to happen by the end of November 2005

company enters into a Deed of Company Arrangement

following the creditors meeting today, two companies within the group will go into liquidation and four will be placed under a Deed of Company Arrangement - creditors may receive between 4.5 cents and 6.5 cents in the dollar

administrators (and receivers) report to creditors, recommending that the company enter into a Deed of Company Arrangement - this will be considered at a meeting of creditors on 19 July 2005

an application to hold the meeting of creditors is extended to 19 July

court grants an extension of time to hold the second meeting of creditors to 21 June 2005

administrator advises of his intention to apply for an extension of time to hold the second meeting of creditors to 21 June 2005

creditors resolve that the second meeting of creditors be adjourned for a period of up to 60 days

creditors to meet 21 February

administrators advise that the Altona Engine Block Project will not be completed - the divestment process for the remainder of the ION Group's businesses is continuing with a promising level of interest shown to date

court grants an extension of time to hold the second creditors meeting to 14 February 2005 - shares will be suspended at least until then

receivers and managers announce a Heads of Agreement with Interfine Holdings Pty Ltd for the sale of the TVSN and Expo Channels for an undiclosed price

company appoints PA Billingham and TM Pogroske of Grant Thornton as administrators - administration never augurs well for shareholders but it is too early speculate on the outcomes

receivers David Winterbottom and Martin Midden of KordaMentha appointed receivers and managers by St George Bank

shares suspended from quotation

we understand that on or about this date the company consolidated its shares 1 for 10