re: good announcement as predicted by horace DESTRA CORPORATION...

re: good announcement as predicted by horace DESTRA CORPORATION LIMITED 2003-06-30 ASX-SIGNAL-G
HOMEX - Melbourne
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Destra Corporation Limited (ASX: DES) The MusicPoint deal with RCS
Inc., which was announced to the market in April, has now been
concluded in New York today with Destra receiving a AUD$250,000 cash
payment.
MusicPoint is the web-based service for Record Companies to deliver
their new music to Radio Stations, which will now be rolled out to
nearly every Radio Station in the world following this major
international agreement between RCS Inc and Destra.
Destra's CEO, Mr Domenic Carosa said, "We are very happy that the
RCS deal has now been concluded so we can role out MusicPoint across
the globe.
In Australia, MusicPoint will now be a joint venture between RCS Inc.
(49%), the world's leading provider of broadcast software
(rcsworks.com) and WIE (51%) effective 1st July 2003.
Internationally, WIE will own 20% of MusicPoint and RCS Inc. will
have an 80% stake with RCS inc. providing a US$1 million loan
(interest free) to MusicPoint and AUD$250,000 cash which has now been
paid to Destra.
WIE is Australia's largest Digital Rights Management provider (DRM)
is now a joint venture between and Destra Corporation Limited (ASX:
DES) 80% and Eurofin Technologies 20% shareholding.
OzHosting.com (wholly owned division of Destra) will be the preferred
hostingprovider for MusicPoint worldwide.
At the same time, research firm Aegis Equities (www.aer.com.au) has
released a report valuing Destra at 10 cents per share using a DCF
(Discounted Cashflow Model). The report can be downloaded from
www.destra.com/research
For media information contact: Richard Jabara 0418 319 067 or Domenic
Carosa 0411 196 979
For more media information on RCS Inc: In Australia contact Lianne
Williams on 0416 197 085 or in the USA contact Tom Zarecki on+ 1 914
548 4948 or email: (newsroom @ rcsworks.com)