News

Pre-close update   -   9 May 2008

ANGLE plc

(‘ANGLE’ or the ‘Company’ or the ‘Group’)

Pre-close update


The Board of ANGLE is pleased to provide the following pre-close update ahead of its preliminary results for the year ended 30 April 2008.

The Company’s interim results for the six months ended 31 October 2007, announced on 31 January 2008, illustrated that ANGLE made significant further progress in the first half of the year. The Group moved into profitability for the period, fair value of the investment portfolio on the balance sheet increased and the management services business moved back into profitability for the period.

A strong outcome for the year as a whole is now expected with EBITDA before expenditure on controlled investments in line with management expectations.

In line with the Group strategy, ongoing investment in portfolio companies continues to be controlled with third party investors brought in to manage risk and maximise ANGLE shareholder value. ANGLE’s cash position at the year end is now expected to be substantially ahead of management expectations.

The Board believes that there is substantial value to be realised from ANGLE’s portfolio companies. In the last two years, the Group has been able to announce significant progress within its portfolio companies at each set of half year and full year results. The Board once again looks forward to being able to update shareholders on further developments when the Group announces its 2008 preliminary results on 10 July 2008.

On 7 April 2008, ANGLE confirmed that it had received an approach which may or may not lead to an offer being made for the Company. The Board confirms that discussions continue with the party concerned on a non-exclusive basis. A further announcement will be made as and when appropriate.


Enquiries:
ANGLE plc 01483 295830

Andrew Newland, Chief Executive
Ian Griffiths, Finance Director

Collin Stewart Europe Limited 0207 523 8350
Mark Connelly, Stewart Wallace

Scott Harris 0207 653 0030
Stephen Scott, James O'Shaughnessy, Harry Dee

Buchanan Communications 0207 466 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 quoted on AIM (AGL.L); further information can be found on www.ANGLEplc.com

9 May 2008