PINEWOOD SHARES DROP 20 PERCENT

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PINEWOOD SHARES DROP 20 PERCENT
Monday, June 20 2005

Shares in Britain's Pinewood Shepperton studios plummeted 20 percent today (Monday) after it filed a profits warning that it would miss its forecasts for the year. The studio cited fierce competition from studios in other countries, the government's foot-dragging on increasing tax incentives, and the lower value of the U.S. dollar.