Adjournment of General Meeting: 20 May 2009

Adjournment of General Meeting

Panmure Gordon announced on 08 May 2009 that the General Meeting scheduled for
08 May 2009 was to be adjourned until 20 May 2009 due to the receipt of
alternative proposals regarding a subscription for new shares representing a
minority stake in the Company, certain of which it considered had sufficient
merit to warrant further consideration.The Company subsequently solicited and received revised proposals which the
Company is currently considering.

Accordingly, at the adjourned General Meeting (which is due to be held on
Wednesday 20 May at 11.00 a.m. at the offices of Panmure Gordon, Moorgate Hall,
155 Moorgate, London EC2M 6XB) the Chairman of the Board intends to propose an
adjournment of that meeting until 11.00 a.m. on 03 June 2009.

A further announcement will be made in due course.

Advisers to Panmure Gordon: ING Corporate Finance as corporate finance advisor;
Berwin Leighton Paisner LLP as legal advisor; Grant Thornton as Nominated

Tim Linacre, Chief Executive: 020 7459 3600
Mark Garrood/William Marle, ING Corporate Finance: 020 7767 1000