Revenues up by 8% to $91.3 million
EBITDAup by 2% to $36.0 million
Operating Income up by 57% to $14.3 million
Net Income up by 45% to $13.9 million
Diluted EPS up by 42% to 16.5 cents per share
Operating cash flow up by 3% to $19.1 million
Channel subscribers grow by 2.4 million to 40.7 million households

Strong financial position: $109.1 million in cash balances and no debt
Amsterdam, The Netherlands and London, UK – Jetix Europe N.V. (Jetix Europe or the Company), formerly Fox Kids Europe N.V., (AMEX: JETIX; Reuters JETIX.AS; Bloomberg: JETIX.NA), the leading pan-European integrated kids’ entertainment company, today announced its financial results for the six months ended March 31, 2005. Revenues increased by 8% to $91.3 million and net income increased by 45% to $13.9 million. Subscribers increased by 2.4 million to 40.7 million households in 58 countries as at March 31, 2005.

Paul Taylor, Chief Executive Officer, said: "I am pleased to announce our first half performance. Recently the company has been through a period of change, and is emerging from this stronger and better positioned to continue its growth into the future.

During the last six months almost all of Jetix’s channels have relaunched under their new name and branding. The last channel to switch, Germany, renames tomorrow, June 10, 2005. In some markets this has had a positive effect on performance, particularly France, whilst in others the new name and brand are still building. The new name and on-air look has been well received by our distribution partners and I am looking forward to working with them to build on this success in order to maintain our position as the leading pan-European children’s channel.

I am also pleased with the progress in our global programming alliance with Disney. During the period four new series were commissioned to be co-produced with Disney. Three are new seasons of existing successful programme franchises and one is a new property which we are co-developing. Alongside these we have also commissioned two new series from third party producers. This slate of production has significantly strengthened our pipeline. The programme distribution division operates in a challenging marketplace, however I am confident that the quality of the new programming we are developing will soon return this division to growth.

Our consumer products division has seen strong revenue growth. This has been a particular focus of management, and I am delighted to see that dedicating resources to this area has brought early results.

During the period I have also completed a review of our management structure and the changes have now been completed. This will lead to better co-ordination across our different lines of business and a smaller, more focused senior management team. In particular I am very happy that Dene Stratton has joined us as Chief Financial Officer from our majority shareholder Disney, and that Etienne De Villiers and Andy Bird have joined our Supervisory Board.

I am looking forward to a strong second half year and to working with the talented team at Jetix as we continue to build the company and to capitalise on the substantial potential that has been developed through our recent changes."

Dene Stratton, Chief Financial Officer, added "I am happy with the significant growth in the channels and online division, which was achieved during our renaming effort. Our distribution division, however, suffered from the timing of programme sales, which are expected to be weighted towards the second half of financial year 2005 and into 2006.

We are pleased to have increased net income by 45% and continued to generate significant cash flow. The company remains financially strong with substantial cash balances and no debt."