SVR.L Regulatory News (SVR)

16 May 2007 10:10

16th May 2007 SERVICEPOWER TECHNOLOGIES PLC ("SERVICEPOWER" OR THE "Company") ISSUE of EQUITY

ServicePower Technologies plc , the innovative supplier of outsourcing solutions and software to the mobile repair and installations industry, has placed 7,926,000 ordinary shares of 10 pence each (the "Placing Shares") at 14.4p per share (the "Placing Price").

The Placing Price represents a discount of 12.73 per cent to the closing middle market price of the Company on 15th May 2007 (being the latest practicable date prior to this announcement). The Placing Shares represent approximately 9.83 per cent. of the current issued share capital of the Company. The Placing is conditional upon receipt of funds by the Company and the admission of the Placing Shares to the Official List and trading on the London Stock Exchange.

The Placing Shares have been issued using the authorities given to the Directors to allot shares for cash at the AGM on 25th May 2006. Admission of the Placing Shares is expected to become effective on 23rd May 2007.

The Placing Shares will raise approximately ‚£1.1million in new cash for the Company. There will be no costs incurred in the placing of the shares. The new shares have been bought by the existing shareholders, new investors, Directors, management and staff of ServicePower. The cash will be used to further develop the Company's GPS tracking and navigation solution for corporate clients and independent service companies, including integration with ServicePower optimiser and support for vehicle diagnostics and strengthen the balance sheet.

The Directors together have subscribed, in aggregate, for 974,000 Placing Shares through the Placing and following these subscriptions, they will have the following beneficial interests:

Name Subscription Number of Ordinary Percentage of enlarged Shares after the issued share capital Placing after the Placing Barry Welck 200,000 2,653,815 2.98% David Brisco 200,000 4,426,466 4.97% Ian MacKinnon 174,000 2,647,392 2.97% Lindsay Bury 400,000 3,592,000 4.03%

David Brisco, Chief Executive said "As we announced in the Preliminary Results announcement our GPS tracking and navigation solution, launched in 2006 was sold to two large corporate clients. We have begun making sales to our independent servicer network in the US. The GPS sector of the Mobile Resource Management market is currently seeing substantial growth in the US and the Directors believe this small investment to enhance the product and secure the IPR will deliver a positive return on investment in 2007".

For further information please contact:

David Brisco, Chief Executive Officer Tel: 0161 476 2277

Barry Welck, Non-executive Chairman Tel: 07831 396539

ServicePower Technologies PLC

Bobbie Hilliam Tel: 020 7071 4300

Evolution Securities Limited

Tom Moriarty, Laura Cocker Tel: 020 7651 8688

ICIS Limited

About ServicePower

ServicePower, publicly traded on the London Stock Exchange , allows companies to locate their employed field resources in the right geography, ensure they have the right mix of skills, and outside this geography create a network of independent, authorised service contractors whose costs are efficiently managed by our sophisticated warranty management software. The schedules and routes for both the employed field resources and the independent servicers are optimised by ServicePower's technology to ensure the right balance between the cost of operations and ensuring customers receive a superior service experience. For more information, visit the Web site at www.servicepower.com.