Beam International Limited (ASX: BEM) today sought the voluntary suspension of trading in its shares, as a result of its plans to sell its game businesses.
 The Company announced that it is in advanced negotiations for the sale of the game development and publishing businesses.
"These discussions follow from our previously announced plans to seek additional equity investment in the company, subsequent tothe withdrawal of equity funding proposals by Australian Mezzanine in November 1998," commented Mr. Alfred Milgrom, Chairman ofBeam International Limited.
As the games development and publishing activities are a major business unit of the Company, the Directors have requested that trading in the Company's shares be suspended until the sale is finalised and further information can be provided to the market concerning the sale and the financial impact of the sale on the Company.
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"This move will allow the Company to concentrate and expand on its initiatives in Internet online activities and 3D animation activities," continued Mr. Milgrom.
"Beam's hotgames.com website, for example, is an established website that delivered over 4.8 million page impressions in December 1998 as a result of 834,000 user visits. Hotgames.com also has 38,000 subscribers to its twice-weekly email newsletter. Hotgames is one of the world's leading game review sites and there are enormous opportunities to expand this site into e-commerce," said Mr. Milgrom.
Mr. Milgrom indicated that additional equity is likely to be sought by the Company to further advance the non-game businesses.
Sale of the computer games business is conditional upon shareholder approval or ASX waiver of listing rule 11.2.
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