The Company is pleased to announce that all the resolutions, set out in the circular sent to shareholders on 14 October 2010 (the “Circular”), were duly passed at the General Meeting (“GM”) held earlier today. As a result the Company will receive an injection of up to £225,000 of new capital which will enable it to discharge its liabilities under the CVA and provide working capital for the foreseeable future.

The Company’s shares, which were suspended pursuant to Rule 1 of the AIM Rules for Companies, will recommence trading with effect from 7.30am on 2 November 2010.

Following approval of the resolutions, an application for the admission of the Enlarged Share Capital of 391,409,135 ordinary shares of 0.01p each has been made to the AIM Market of the London Stock Exchange consisting of 69,192,972 new ordinary shares issued pursuant to the Share Capital subdivision and 322,216,163 new ordinary shares issued as set out in the Circular. Admission of the Enlarged Share Capital will occur at 8.00am on 2 November 2010 (“Admission”).

Included within the Enlarged Share Capital are 11,738,361 shares being issued to the Directors in lieu of unpaid accrued fees. Following Admission Alex Lubin and Paul Seakens will hold 5,969,181 and 5,969,180 Ordinary Shares respectively representing approximately 1.5% of the Enlarged Share Capital each.

Following Admission the Company’s shareholders with a notifiable interest are as follows:

The Company is considering a number of opportunities, but it is unlikely that it will be in a position to announce a deal by 15 November 2010 and as a result the Company’s shares will be suspended from trading on that date in accordance with Rule 15 of the AIM Rules. The Company then has until 12 May 2011 to complete a reverse takeover or its shares will be cancelled from trading on AIM.