Beam secures $6 million funding for NASDAQ plans

Beam International Limited ('Beam') (ASX:BEM) today announced that it had entered into a Heads of Agreement with Australian Mezzanine Investments and Trusts ('AMIT') for an investment by AMIT (and other associated parties) of $6 million in the Beam Group. 'This is a major step for Beam towards achieving its stated ambition of listing the company on the NASDAQ stock exchange and maximising the value of the company for all shareholders,' Mr Alfred Milgrom, Beam's Chairman, said. 'The principal use of these funds will be to increase Beam's capacity to develop and publish more titles and to establish its operations in the US market. These are essential if the company is to be listed on the NASDAQ market', continued Mr Alfred Milgrom. It is proposed that the investment will be in the form of Convertible Notes which will be interest free and convertible into equity in the Beam Group on the basis of 40 cents for each share in Beam International Limited. AMIT will also have the option to subscribe a further $2 million for convertible notes to be issued on the same terms.

The Trust, through its manager, Australian Mezzanine Investments Pty. Limited ('AMIL') is currently working with Beam and its advisers to finalise the structure and terms of the investment. The agreement is subject to completion of appropriate documentation, regulatory approvals and approval by Beam shareholders. Full details will be forwarded to shareholders as soon as practicable. Mr Adam Lancman, Managing Director of Beam, said: 'We are extremely pleased to be working with Australian Mezzanine to grow Beam to the next level. As well as the funding which AMIT will provide, we see as just as important their management expertise, their understanding of the hi-tech market and their contacts in the US financial markets.' Mr Su-Ming Wong, Director of AMIL said: 'It is our aim at Australian Mezzanine to support innovative Australian companies to become globally competitive players. We see Beam as an Australian success story in the international computer games market and we are excited to work with them to become one of the top international game publishing companies.'

Australian Mezzanine is one of Australia's leading private equity managers with over $170 millon under management and it currently has over $140 million to invest in fast growing Australian companies. Successful AMIT investee companies include Fingerscan, Austal Ships and Datacraft.
For further information concerning Australian Mezzanine, please contact
Mr. Su-Ming Wong
Australian Mezzanine
By tel: +61 2 9241.444
By fax: +61 2 9247 5551
Or by email at amil@ozemail.com.au
Beam International Limited is Australia's only multimedia development company listed on the Australian Stock Exchange (and trades under the symbol BEM). More information about Beam International Limited, Melbourne House and Beam Software can be found on the Web site at http://www.beam.com.au.
For further information concerning Beam International Limited, please contact Ms. Crystal Eid
Beam International Limited
By tel.: +61 (0)3 9866.8300, ext, 207,
by fax on +61 (0)3 9866.8674
or by email at crystale@beam.com.au
Press release:- Friday September 11, 1998