News

Pre-close update for the six months to 31 October 2007   -   13 November 2007

Angle PLC - Pre-close Update

RNS Number:5650H
Angle PLC
13 November 2007

For Immediate Release 13 November 2007

ANGLE plc

('ANGLE' or the 'Company')

Pre-close update

The Board of ANGLE is pleased to provide the following pre-close update ahead of its interim results for the six months ended 31 October 2007.

Solid progress has been made within the portfolio of Venture companies. In order to produce significant shareholder value in the future, large equity stakes are being retained in these potentially high growth portfolio companies. However, the introduction of third party investors is enabling ANGLE to reduce its ongoing cash contribution as well as demonstrating value on the ANGLE balance sheet.

As previously announced, portfolio company Geomerics completed a financing which lead to an increase in the net asset value of ANGLE's holding of £4.0 million.

ANGLE expects to report an overall profit from its venture investment operations in the first half.

The Management Services business is trading ahead of expectations and is contributing cash to fund investment activity. Cash balances at 31 October 2007 were ahead of management's expectations.

ANGLE will announce its interim results in January 2008 when a fuller report on progress will be provided.

Enquiries: ANGLE plc 01483 295830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director

Collins Stewart Europe Limited 020 7523 8350
Mark Connelly

Scott Harris 020 7653 0030
Stephen Scott, James O'Shaughnessy, Harry Dee

Buchanan Communications 020 7466 5000
Richard Darby, Suzanne Brocks, James Strong

Notes to Editors

Founded in 1994, ANGLE is an international venture management company focusing on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients. ANGLE is listed on AIM (AGL.L); further information can be found on www.ANGLEplc.com

This information is provided by RNS The company news service from the London Stock Exchange

13 November 2007