TUNG.L Regulatory News (TUNG)

TUNGSTEN CORPORATION PLC 

("Tungsten" or the "Company")

For Immediate Release

1 November 2016

Update on Sale of Tungsten Bank

Tungsten Corporation plc (LSE: TUNG), the global e-invoicing, purchase order services, analytics and financing company, today provides an update on the sale of Tungsten Bank (the "Bank").

The Company announced in September that the sale of the Bank was advancing and it expected it to complete by the end of October 2016. The sale is in the final stages of the necessary regulatory approvals and the planned separation of the Bank operations from the Group is well advanced.

Tungsten will provide a further update on receipt of these regulatory approvals and completion of the transaction.

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About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) aims to be the world's most trusted business transaction network by using data intelligently to strengthen the global supply chain.

Tungsten Network is a secure e-invoicing and purchase order services platform that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow management. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.

Tungsten Network processes invoices for 70% of the FTSE 100 and 72% of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 47 countries, and last year processed transactions worth over £133bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's and the US Federal Government.

Trusted, passionate and proven, Tungsten is making the digitisation of global commerce between buyers and suppliers faster, easier and smarter.