Nov 28 (Reuters) - TLA Worldwide PLC TLAT.L :
* UPDATE ON STRATEGIC REVIEW
* NOW ALSO ACTIVELY CONSIDERING SALE OF ITS AUSTRALIAN BUSINESSES COMPRISING AUSTRALIAN SPORTS MARKETING BUSINESS
* INDICATIONS ARE THAT SALE PROCEEDS FROM BOTH US AND AUSTRALIAN BUSINESSES WILL LEAVE A MODEST CASH BALANCE IN TLA
* UNIT HAS SIGNED A LETTER OF INTENT TO SELL GROUP'S US BUSINESSES TO FUND MANAGED BY GATEMORE CAPITAL MANAGEMENT LLP