CBX.L Regulatory News (CBX)

18 May 2007 16:41

Cubus Lux plc18 May 2007 For immediate release 18 May 2007 CUBUS LUX PLC "Cubus Lux" or "the Company" Board Appointments Cubus Lux, the Croatian leisure and tourism company, announces the appointmentsof Stephen McCann and Francisco Alvarez to its board of directors ("Board"). Stephen McCann has served as Chief Financial Officer of the Company sincejoining in March 2006. From 1991 Stephen was with Viktor Achter Ltd a UKautomotive trim producer, as finance director and company secretary. Followingthe acquisition of Viktor Achter Ltd by Milliken & Co, a private US Textilecompany, he relocated to Germany to become finance director of the enlargedgroup. He joined Viktor Achter Ltd from British Vita Plc, a polymers company inthe chemicals sector, where from 1986 to 1991 he was a senior manager coveringthe roles of international accountant and financial controller and later becameassistant group treasurer. Stephen John McCann, aged 47, was appointed as director of the Company on 8March 2007 and is currently a director of Crvena Ru?a d.o.o., Quibus Ltd, Quibusd.o.o., Cubus Lux Gradenje d.o.o., Cubus Lux Projektiranje d.o.o., Cubus LuxTenis d.o.o., Cubus Lux Usluge d.o.o.. Stephen McCann currently holds 300,000ordinary shares in the Company and has share options over a further 300,000ordinary shares in the Company. Francisco Alvarez joins the Board as a non-executive Director and brings withhim significant experience in financial markets, having held the position ofchief financial officer of the Valencia Stock Exchange from 1995 until 2000.Prior to that, he worked for the Paris Bourse Stock Exchange for 23 years. Asvice president between 1992 and 1995, he was responsible for the internationalrelationships of the Paris Bourse having previously headed the team whichdesigned and implemented the current trading platform NSC which has beenadopted by Euronext. Most recently, in 2003 Francisco set up ?TICA SolucionesFinancieras, an independent company offering financial services to entrepreneursand individual investors, after a spell as deputy manager of Banco Inversionwhich he joined in December 2003 to develop the bank's strategy in Spainfollowing its acquisition by the HVB Group. In addition, Francisco is the author of 3 economics books, has a PhD inelectronics applied to finance (Paris Sorbonne University), an MBA from theINSEAD (Fontainebleau) and has received the following accolades: • 1997 - president of the Fundacion de Estudios Bursatiles y Financieros • 1998 - President of the European Association of Financial Centres • 2000 - he was designated as "the economic man of the year" within the Valencia region by the regional government • 2001 - nominated "Chevalier de l'Ordre du Merit Civil" by the French government for the activities developed to promote the French economical aspects around the world. Francisco Alvarez-Molina, aged 60, was appointed as director of the Company on 8March 2007 and is currently a director of Etica Soluciones Financieras SA,Gesfesa SA, Hispanet SA, Openfinance SL, Coltec SL and Allveritas InversionesSL. Additional Information Save as set out above, there are no other disclosures in respect of StephenMcCann and Francisco Alvarez that fall to be made under Rule 17 or paragraph (g)of Schedule 2 to the AIM Rules for Companies. For further information please contact: Cubus Lux Plc Christian Kaiser, Director +44 7767 766 243 Threadneedle Communications Graham Herring/Josh Royston 020 7936 9605 This information is provided by RNS The company news service from the London Stock Exchange