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XCHANGING PLC WINS L'ORÉAL PROCUREMENT CONTRACT Xchanging plc ('Xchanging'), the business process and technology services provider and integrator, has won a three-and-a-half year procurement services contract with L'Oréal. The contract commences on 1 August 2011 and runs to 31 December 2014. It is expected to generate revenues in excess of €25 million (c. £22 million) over the life of the contract. The contract reinforces Xchanging's established position in the global procurement services market where the Company manages over £4 billion of indirect procurement spend on behalf of a broad range of customers. Xchanging helps optimise the value their customers receive from the money they spend and simplifies the administration involved in the purchasing process. On behalf of L'Oréal Xchanging will manage a significant indirect procurement budget across five countries - France, UK, Germany, Italy and Spain. Xchanging will work alongside L'Oreal's purchasing team to help streamline their purchasing processes across various categories of spend and improve overall costs and quality of supply. The categories include: Information Technology and Telecommunications, Facilities Management, Human Resources, Light Transport and Logistics Supplies, Travel, Industrial Supplies & Services, Utilities and Laboratory Supplies. Xchanging will also provide procurement management activities including reporting, supplier and contract management.

http://www.investegate.co.uk/Article.aspx?id=201108010700124595L

On 28 July 2011 SkyePharma announced it had entered into an exclusive Development, License and Marketing Agreement with Sanofi in Mexico, Central and South America for Flutiform™, its lead development product for the treatment of asthma. Under the agreement, SkyePharma is eligible for initial, approval and sales milestones potentially worth several million US dollars and a high single digit percentage royalty on net sales. The European Marketing Authorisation application for Flutiform™ is currently under review and preparations continue to be made for the potential launch of Flutiform™ in Europe in H2 2011.

SkyePharma's Chief Financial Officer, Peter Grant, said: "This is the first of what we hope will be a number of initiatives to enhance the prospective liquidity position of SkyePharma. Retaining the proceeds of milestones and signing fees will assist with funding the working capital requirements related to the supply of Flutiform™ during its critical launch period."

SkyePharma Announces Amendment to CRC Finance Facility to enhance Anticipated Short-term Liquidity LONDON, UK, 1 August, 2011 - SkyePharma PLC (LSE: SKP) today announces that the Group ("SkyePharma") has entered into an amendment agreement in respect of its existing CRC Finance Facility ("Facility") to enhance the Group's anticipated short-term liquidity position. Under the amendment agreement, the obligation to pay 50% of further milestone payments or signing fees in respect of Flutiform™ licenses, up to approximately U.S.$9 million, will be deferred until 4 September 2013. The interest rate applicable to the Facility, which is variable based on Euribor and Libor, has been increased by 2 percentage points with effect from 1 July 2011. Prior to this amendment, the Board anticipated that U.S.$9 million of prepayments would fall due over the next two years, mainly out of launch milestones anticipated to be received following launches of Flutiform™ in major European countries. The obligation to make further mandatory prepayments out of Flutiform™ milestones and signing fees will be waived altogether if, by 4 September 2013, the Group's Convertible Bonds have been converted to equity or rescheduled or refinanced on certain terms, including that the earliest date on which the Bonds may be called for repayment is at least five years later than the date of such rescheduling or refinancing.

http://www.investegate.co.uk/Article.aspx?id=201108010700194588L

Week ahead. Trading systems developer Fidessa was a good investment in the first half of the year but profit-takers moved in during July, ahead of the group's interim figures on 1 August. Panmure Gordon is expecting the company to reiterate earlier comments about 2011 revenue growth likely to be at similar levels to those seen in 2010. "Fidessa is also likely to flag up the challenges of uncertain regulation, the macro-economic environment, structural pressure and hiring challenges. 'Regulation' plays well for Fidessa, in addition, the company's market leading products, dominant market position, competitive clout, resilient financial model and enviable customer base should enable it to continue to sign significant new orders. To be sure, there is a hiring impasse but, historically, this has been very elastic," the broker notes.

Non deal making specialist LSE has seen its shares take a tumble via an island top on the 90 minute chart, a feature which could be enough to mark a lasting top. However, there is more than a hint of support coming in at the floor of a rising July price channel at 992p, something which suggests that while there is no end of day close back below the one month line there could be at least an initial rebound back to the top of this week's gap down at 1,032p over the next few sessions. So reckons Zak Mir

Michael Bonte-Friedheim, Chief Executive of Mediterranean Oil and Gas, commented: "We are extremely pleased regarding the progress at Guendalina, with current estimates for timing and expenditures in line with previous expectations. With regard to Malta, we are encouraged by the fact that a specialist explorer such as Dominion recognised the attractiveness of Area 4, which supports our own belief in the prospect."

2. Malta - Offshore Area 4 PSC Further to the statement released on 24 June 2011, announcing that Mediterranean Oil and Gas had entered into an Execution Agreement with Dominion Petroleum Limited ("Dominion Petroleum") to farm-out a 75% operated working interest in the production sharing contract for Blocks 4, 5, 6 and 7 of Area 4 Offshore Malta, MOG has been informed by Dominion Petroleum that Dominion Petroleum is not able to complete the transaction due to the relevant resolutions not being passed at Dominion Petroleum's SGM on 25 July 2011. MOG is to receive a non-refundable payment of US$225,000 from Dominion Petroleum. MOG will review its alternatives concerning Malta Offshore Area 4. Further announcements will be made in due course.

Update on Italy, Guendalina Gas Field and Malta, Offshore Area 4 1. Italy - Concession AC 35 AG - Guendalina Gas Field (MOG interest 20%, ENI 80% and Operator) The field development program continues to progress on schedule. The latest information received from ENI, the operator, is summarised below. The drilling phase terminated successfully and on schedule, with two development wells, Guendalina 2Dir ("GUE2Dir") and Guendalina 3 ("GUE3"), both completed as gas producers. The Transocean jack-up rig,"GSF Key Manhattan", left the drilling location on 14th July 2011. The Gue 2Dir and Gue 3 wells have been drilled respectively to target depths of 3290m and 3164m. All the expected gas bearing levels have been encountered and logged and the wells prepared for production. On well GUE2Dir, the level PL3-J3 has been completed for production, while the deeper exploration gas target (PL3-K) has not been completed. This level will be subject to future additional G&G studies (seismic inversion) to assess potential future development. GUE3 confirmed that the two main gas targets, PL3-I1 & PL3-J3, are gas bearing. Moreover, an additional gas level (PL3-J), which was not included in the original development plan, was also positively evaluated and will be completed to production. The layout of the sea line to connect the Guendalina platform to the other existing ENI offshore gas production infrastructure has been completed. The platform Deck installation was also completed on 27th July 2011. First gas remains on schedule between 25th September 2011 and 5th October 2011.

http://www.investegate.co.uk/Article.aspx?id=201108010700124422L

Matt Holmes Managing Director of Liquid Accounts added, "We're delighted to be able to support this initiative through our partnership with @UK, and offer our award-winning cloud accounting software as part of a cloud start-up package for new businesses under the new Enterprise Allowance Scheme. Statistics show that while 4 out of 5 new start-ups fail within the first three years, 4 out of 5 who use a computerised accounting system survive, simply because they can quickly and easily keep track of money coming in and going out and make sure that they don't run out! Our cloud accounting system helps them keep track of their figures and essential business information instantly from any device with an internet connection 24/7 and share them with their accountant, bank or advisors. "As a start-up ourselves we received invaluable support and grants from a wide variety of Government initiatives and have gone on to become a UK market leader in online accounting software. We know from experience that when you're starting out every penny counts!" New Enterprise Allowance provides the unemployed with both financial assistance and mentoring support. @UK and Liquid Accounts believe that the combination of an easy to use cloud package with all the elements required to get a business set up and running along with additional support in the form of the loan from UKPLC Charity will help more of the New Enterprise Allowance applicants in succeeding in the transition from Unemployment to running their own business.

Commenting on the NEA scheme, and the launch of cstart.com, @UK plc founder Ronald Duncan said: "Twenty years ago, I set up my business using the Enterprise Allowance. It was a great programme to get the unemployed working and we are delighted that the New Enterprise Allowance is here for other entrepreneurs. "As soon as we heard about the New Enterprise Allowance program, we wanted to help and support the relaunch of the scheme which helped get our business off the ground. "There is a lot to do when you start up. Our joint package with Liquid Accounts means that you can get everything done in a few hours and can focus on your business from day one, while we promote our startups to the 1 million buyers on the @UK ecommerce marketplace. "The Government made an investment of a few thousand pounds in us twenty years ago, which has resulted in a business whose software has been able to identify billions of pounds of potential savings for the Government. Many of our clients have achieved similar success, and I have no doubt that the New Enterprise Allowance will achieve the same ends."

@UK launches Cloud-Start-Up.com Service to be offered alongside a £1,000 loan from @UK to companies taking part in the Government's New Enterprise Allowance Scheme rolling out nationally today @UK PLC (AIM:ATUK.L), the cloud ecommerce marketplace, has teamed up with leading Cloud Accounting system 'Liquid Accounts' to launch Cloud.-Start-Up.com (cstart.com), offering a complete online business start-up solution to participants of the Government's New Enterprise Allowance (NEA) Scheme. @UK is also supporting the NEA with a matched funding loan of £1,000 per applicant from @UK's registered charity, UKPLC Charity. The national rollout of the NEA scheme by the Department of Work and Pensions starts today, Monday 1st August, and has been welcomed by @UK, the UK's the leading ecommerce marketplace, which was itself founded with an Enterprise Allowance. The NEA is aimed at giving unemployed people access to business mentors, start-up loans, and the opportunity to build their own business. It is available to anyone aged 18 or over who has been claiming the Jobseekers Allowance for more than 26 weeks, with the total package of support being worth up to £2,274 per participant. @UK is supporting the New Enterprise Allowance with a matched funding loan of £1,000 per applicant from @UK's registered charity, UKPLC Charity, to be used with @UK PLC, ensuring that NEA customers get the best ecommerce sites, along with a cloud start up package from £9.99 per month. This will provide the NEA participants with a complete startup solution covering Company Registration, Domain name, email, ecommerce and accountancy. The Department of Work and Pensions anticipates around 40,000 people will benefit from New Enterprise Allowance. This means that there could be an additional £ 40 million to be spent on start up services, and that @UK could get a reasonable share of this income since it is providing a matched funding loan to users of its Cloud-Start-Up.com (cstart.com) service. @UK is a leader in the start up field and the directors expect cstart .com to increase revenues in this area....................

http://www.investegate.co.uk/Article.aspx?id=201108010700134427L

Ken Lever, Chief Executive, commented: "This is a year of transition for Xchanging as we put in place a structure and strategy for renewed growth. I am pleased with the significant progress the Group has made with the Four Part Action Plan. We have disposed of the US BPO business, taken action to reduce costs and improve cash management, and secured our funding. In the second half of the year we will continue to develop our strategy focusing on our competitive strengths to ensure we return to profitable growth. For 2011 we are on track to achieve our financial expectations for the year as a whole."

Operational Highlights · Significant progress made against the Four Part Action Plan · Renegotiation of the Group bank facilities completed - new term of four years · Sold US workers' compensation business for £13.6 million · Acquired 100% ownership of Cambridge Solutions Limited's ("Cambridge") Australian workers' compensation and Indian BPO businesses · Stabilised Kedrios and introduced new management team · Re-focused senior management teams, eliminating duplication

Half Year Results for the six months ended 30 June 2011 In the first half of the year, considerable progress has been made with the Four Part Action Plan announced in March. Financial Highlights (continuing operations) · Reported revenue was £329.5 million (HY 2010: £333.9 million) · Adjusted operating profit was £13.8 million (HY 2010: £24.0 million) · After adjustments mainly related to restructuring costs statutory operating profit was £3.2 million (HY 2010: £21.7 million) · Adjusted operating margin was 4.2% (HY 2010: 7.2%) · Adjusted basic earnings per share was 1.63 pence (2010 HY: 5.54 pence

http://www.investegate.co.uk/Article.aspx?id=201108010700194585L