PNA.L Regulatory News (PNA)

1 July 2015

PENNA CONSULTING PLC

("Penna" or "the Company")

Market Update

Penna Consulting Plc (PNA:AIM), the international human resources consulting group, is pleased to announce the extension of its product offering.

On 30 June 2015, the Company completed the acquisition of Career Café Limited, trading as 360 Degrees Advertising and 360 Education, market leaders in the area of recruitment in the higher education and student marketing sectors. These sectors are areas where the Penna management sees good growth potential and the acquisition will broaden the reach and depth of offering in the Company's Recruitment division.

In addition, Penna has entered into an agreement with the Chartered Institute of Public Finance and Accountancy ("CIPFA") pursuant to which it will take over CIPFA's recruitment business that places finance professionals into the public sector. The Company has also entered into a marketing arrangement with CIPFA under which the Company and CIPFA will combine their expertise and relationships to provide finance professionals for organisations in the public sector.

Commenting on the acquisition, Gary Browning, Chief Executive, said:

"These two small bolt on transactions are an excellent strategic fit for the Company and should prove beneficial to the Company's long term growth plans"

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