AGM STATEMENT

New Licensing model launched

Senior industry specialists appointed as Non-Executive Directors

Updateon FTSE 100 FMCG Interactive Screen Roll-Out

At the Company's Annual General Meeting being held at 10.00a.m. today in Dublin, Simon Crisp, Chief Executive, will make the following statement to shareholders regarding the Company's key developments:

KEY POINTS

* Revised strategy for Adwalker Wearable Media & Interactive Digital Screen Networks;

* Appointment of senior media industry BoardDirectors;
* FTSE 100Fast Moving Consumer Goods (FMCG) progress; and

* Strengthened client list in the first quarter of 2008 with completed campaigns for Panasonic UK, Guinness, Gameloft UK , CW Network, Twenty 20 Cricket and Nintendo of America.

Strategy update

Following a business review carried out by the Board at the end of 2007, the Company is pleased to announce that it has launched 'Adwalker VAR (Value Added Reseller)'. The new model will allow global companies to lease, on a long term licence basis - typically 6-12 months, the Adwalker wearable media units. The new model is designed to offset the variable nature of the Company's current sales model and extend the Company's geographic market for the platform without incurring additional headcount and resource costs in those countries.

The model was launched in January 2008 and the Company has already seen significant interest. The Company has signed two licenses with companies situated in Australia and New Zealand and is advanced stages of discussions with several companies in other geographic areas.

Strengthened Client List

In the first eight weeks of the year the Board is pleased to announce completed client campaigns for Panasonic UK Ltd, Guinness in Hong Kong, Italy, Ireland and the UK, Game Group Plc, CW Network, Twenty 20 Cricket and Nintendo of America Inc.

Board Appointments

I am delighted to be able to announce that Mr Alan Rutherford and Mr Eric Newnham, two well-known and highly experienced industry leaders have been appointed to the Board as Non-Executive Directors with immediate effect.

Alan Rutherford is currently the CEO of Digitas Global, a division of one of the worlds largest marketing services group, Publicis Groupe plc. Alan leads the agency's expansion into major new markets around the world, building relationships with global clients and leveraging the agency's expansion platform businesses, which include Digitas' agencies, media operations, technology division and Prodigious Worldwide.

Prior to joining Digitas Global, Alan was VP of Global Media for Unilever plc. Prior to joining Unilever in 1998, Alan served as a Director at Ogilvy and Mather Europe

Eric Newnham is the Global CEO of Kinetic Worldwide Group Ltd, the world's leading out-of-home media agency. In April 2005, Eric spearheaded the creation of Kinetic, a merger between media groups Poster Publicity Holdings Ltd and Portland Ltd which is now 50 per cent. owned by Kinetic's management team and 50 per cent. by marketing services group WPP Group Plc. Kinetic Worldwide has rapidly expanded and now has a number of expert divisions, a network of 42 offices worldwide.

Eric's early career included positions at leading media companies Out Of Home advertising & media industry including Leo Burnett and Horizon Outdoor. In 1988 Eric was appointed managing director of WPP's Portland before leaving to join Poster Publicity.

FMCG Update

As previously announced, in July 2007 the Company commenced a pilot study on behalf of a FTSE 100 FMCG company for the rollout of an interactive fixed screen digital network. The Board can confirm that the results from the six month pilot study have been very encouraging and the Company is currently in negotiations regarding an initial roll out of the network into retail stores.

The Board looks forward to updating shareholders on the progress of these discussions in the near future.

The Company continues to apply the technological expertise gained from the creation of its wearable digital media platform into the development of interactive digital screen networks. The global relationship forged with IBM, as an accredited business partner, has enabled the Company to develop the target business channel for these types of networks more effectively. The Company is currently in early stage discussions with companies based in North America and Ireland for the provision of four separate interactive digital screen networks.

Outlook

The Board of Adwalker is encouraged by the interest seen in the new licence model for the Adwalker wearable media platform and is optimistic that the good start in the first weeks of 2008 can be maintained.

The Company has worked extremely hard to deliver the FMCG Pilot Study over the last 16 months and we are delighted that the results have led to negotiations regarding a rollout. While there can be no guarantee of concluding discussions with the FMCG company or the other companies that have expressed interest regarding interactive fixed screen networks, the Board remains confident that the Company will make further progress in this area in 2008.

I am privileged to be able to announce the appointment of our two new non-executives who both have a demonstrable track record in the media and advertising industry. I look forward to working with them in the future and I am sure that their advice and knowledge will be beneficial to the Company.

The Company is entering a particularly exciting phase of its development and I look forward to updating shareholders further in the coming year.'

Notes:

Adwalker is a digital media company specialising in the provision of multimedia digital platforms, which include, fixed screen digital networks and the patented Adwalker wearable media.

The Adwalker mobile out-of-home, interactive media platform is an advertising and media platform which is worn by its operators ('Adwalkers') as a compact body pack incorporating a LCD screen, wearable computer, touch screen and printer, enabling services and applications which include brand advertising, point-of-sale, data capture and promotions.

Further information required under the AIM Rules:

Mr Newnham currently holds 2,015,000 ordinary shares in the capital of the Company, representing 0.76 per cent. of the Company's issued share capital.

Mr Alan Seymour Rutherford (aged: 47) and Mr Eric Robert Newnham (aged: 48)

Listed below are the names of the companies of which Mr Rutherford and Mr Newnham have been a director or partner at any time in the past five years:

Mr Rutherford

Other Directorships / Partnerships Former Directorships held within Currently Held previous 5 Years
The Graylings Management Company Limited

Mr Newnham

Other Directorships / Partnerships Former Directorships held within Currently Held previous 5 Years
Kinetic Worldwide Limited
Total Premium Limited
Aviator Media Limited
Poster Publicity Holdings Limited
Cecilon Limited
Outdoor Connection Limited
En Alpha Limited
Onezeroone Media Limited
Kinetic Worldwide Group Limited
Primeads Interantional Limited
Signposter.com Limited

Save as disclosed below, there are no further details required to be disclosed pursuant to schedule 2(g) of the AIM Rules.