Adjournment of General Meeting: 2 June 2009

Adjournment of General Meeting

Panmure Gordon announced on 20 May 2009 that the General Meeting (the “BlueGem
Meeting”) called to consider and, if thought fit, approve the proposed
subscription for shares in the Company by BlueGem Water Holding B.V. originally
scheduled for 08 May 2009 and adjourned to 20 May 2009 had been further
adjourned until 03 June 2009 to allow the Company to consider alternative
proposals regarding a subscription for new shares representing a minority stake
in the Company. On 21 May 2009 the Company announced that it had entered into a
conditional agreement with QInvest LLC in respect of such a subscription.As announced earlier today, the Company has called a new General Meeting for
2.00 p.m. on 18 June 2009 to consider and, if thought fit, approve the
subscription by QInvest LLC. Accordingly, at the adjourned BlueGem Meeting
(which is due to be held on Wednesday 3 June 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 indefinite adjournment of that meeting.

A further announcement will be made in due course.

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