MUNRO GLOBAL ACQUIRES M-LAB RESEARCH

NEW ADDITION ADDS MEDIA SECTOR RESEARCH CAPABILITIES TO CLIENT SOLUTIONS OFFERED BY EXPANDING GROUP

Independent research-focused marketing services group Munro Global has acquired London-based specialist media sector agency Media Lab Research (M-Lab), it was announced today [Friday 31st August].

Formed in June last year, Munro, which is substantially funded by Electra Quoted Management, the specialist asset management company, adds M-Lab to a portfolio which already includes three established market research firms: FDS International, Maven Research and field research specialist, acefieldwork. Enlarged group turnover, with M-Lab, is forecasted to exceed £10million in 2007.

Richard Hepburn, Chief Executive of Munro, said: “M-Lab is a fast growing business with an experienced team and an excellent track record in delivering research solutions to a range of blue-chip media clients. This acquisition adds proven expertise in media research to complement both FDS, with its focus on telecoms, utilities and the public sector, and Maven which focuses on automotive, financial services, business services and employee engagement research. The stable field and delivery resources within the current Munro businesses will support further growth in M-Lab and strengthen its capabilities to undertake larger scale projects.”

M-Lab was formed in 2004 and has grown organically to an annual turnover of over £1/2 Million in the year to July 2007. Recent clients include GCap Media, Emap Radio, Readers Digest and Channel 4. M-Lab was lead quantitative research partner for Channel 4 in supporting their successful bid for the UK’s second DAB multiplex digital radio franchise confirmed by OFCOM in July 2007.

As a specialist media research boutique within Munro, M-Lab will retain its name and brand identity. Founders Graham Williams and Louisa Livingston (both formerly with NOP Media) will continue to lead the business, supported by their existing team and the wider resources of the Munro Group.

Louisa Livingston and Graham Williams commented: “We have had an exciting three years building the M-Lab business but recognised that to reach the next stage of our development we needed to find a complementary strategic partner with a shared vision. Munro very much ‘fits the bill’ in this regard and we look forward to working with the teams at FDS, Maven and acefieldwork in strengthening and broadening our offer to a wider range of media clients.”

Richard Hepburn, added: “We are continuing with our stated strategy of growing both organically and through acquisition. The addition of M-Lab further enhances Munro’s capabilities to deliver client-focused, business-enhancing solutions across a range of research focused marketing services disciplines.”

For more information, visit www.munroglobal.net.

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CONTACT DETAILS For more press info, photos or to set up an interview, please contact Emma Bennett, Marketing Manager, tel. 01494 688208 or email ebennett@maven.co.uk

Notes to Editors: Munro Global was formed in June 2006. It aims to become a recognised centre of excellence in the provision of research-focused marketing services solutions.

Its companies include:

• FDS International - a recognised leader in customer satisfaction, benchmarking and mystery shopping research, founded in 1972, which has grown to become one of the UK's Top 25 agencies
• acefieldwork – a provider of excellence in face-to-face field-based research
• Maven Research – a specialist in automotive, financial services, business services and employee engagement research, has pioneered the use of web and other technologies in building new and flexible client interfaces.

Electra Quoted Management Limited is a specialist asset management company established in 1981, and is a subsidiary of Electra Partners. It manages three Electra Kingsway VCTs, Electra Active Value and EQMC European fund. It concentrates on both the quoted and unquoted UK smaller companies arena, targeting both retail and institutional investors. As at 31 December 2006 Electra Quoted had funds under management of over £140m.