30 November 2007

Placing raises £930,000

The Board announces today that it has conditionally raised £930,000, before expenses, from a Placing by John East & Partners Limited (“JEP”) of 62,000,000 ordinary shares in the capital of the Company (“Ordinary Shares”) at 1.5p per share (the “Placing Shares”) with institutional and other investors.

The net proceeds of the Placing, amounting to £846,750, will provide additional working capital to support the expected growth of the Company, repay overdue trade creditors and provide working capital generally.

Following the issue of the Placing Shares, the Company will have 247,633,087 Ordinary Shares in issue. Application will be made for the Placing Shares to be admitted to trading on AIM. Dealings in these shares are expected to commence on 6 December 2007.

Commenting on today’s update, Simon Crisp, CEO, said: “The result of this placing will provide the Company with the necessary resources and working capital to optimise the opportunities we have created in particular with respect to the pilot project with a FTSE 100 “Fast Moving Consumer Goods” company.”