Further to the announcement issued on 20 November 2008, Hertford announces that 5,767,000 New Ordinary Shares of 1 pence each have been placed and application has been made for these shares to be admitted to trading on AIM from 30 January 2009. These new shares represent 11.90 per cent of the enlarged issued share capital of the Company. The shares were placed with institutional investors, directors of Hertford and Dexapoint at 15 pence each. The New Ordinary Shares will rank parri passu with the existing ordinary shares.

Dexapoint, who had agreed to underwrite the placing up to £850,000 was asked to subscribe for £515,000 of this. As a result Dexapoint will be interested in 8,088,333 shares, representing 17.6% of the enlarged outstanding share capital.

The below directors participated in the placing and their shareholdings after the admission of the New Shares will be as follows:

The proceeds of the placing will be deployed in conjunction with the proceeds of a convertible loan note issue, to complete Hertford's acquisition of Cheque Exchange Limited, a profitable nation-wide cheque cashing and money remittance business from Provident Financial Plc. The completion of the acquisition is expected tomorrow. Additionally, the proceeds will be used to accelerate the implementation of the Company's development strategy and provide additional working capital.

Timetable of principal events: