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BOULDER, Colo.– New Frontier Media, Inc. (NasdaqGS: NOOF) has confirmed that it has received an unsolicited, non-binding, conditional acquisition proposal from Longkloof Limited.

Longkloof, an investment holding company, has indicated its interest in pursuing the acquisition of all of the outstanding shares of New Frontier Media not beneficially owned by Longkloof for $1.35 per share in cash, subject to due diligence and other conditions.

The Board of Directors of New Frontier Media has formed a Special Committee of independent directors to review and carefully evaluate the proposal received from Longkloof with its financial and legal advisors and determine the appropriate response to the proposal.

The Special Committee plans to evaluate the proposal in a timely manner, but no definitive time frame has been determined. The Special Committee and management have indicated that their review of the proposal will be conducted in a manner that will minimize any disruptions to New Frontier Media’s business operations.

The Special Committee is being assisted in its consideration of Longkloof’s proposal by its legal advisor, Blank Rome LLP, and is currently in the process of selecting a financial advisor. New Frontier Media is being advised by Holland & Hart LLP.

New Frontier Media advises shareholders that they need not take any action at this time in response to Longkloof’s proposal pending review by New Frontier Media’s Special Committee.