Press release by European — lavish and bold (12)
I believe the answer is:
presumptuous
'bold' is the definition.
(thesaurus)
'press release by european lavish' is the wordplay.
'press release' becomes 'pr' (public relations).
'by european' becomes 'e' (abbreviation e.g. EU. I am not sure about the 'by' bit.).
'lavish' becomes 'sumptuous' (I've seen this in another clue).
'pr'+'e'+'sumptuous'='PRESUMPTUOUS'
'and' is the link.
Can you help me to learn more?
(Other definitions for presumptuous that I've seen before include "Assuming too much" , "Impertinent" , "Bold - forward" , "Impertinently bold" .)