WTG.L Regulatory News (WTG)

 For release on RNS 0800 on Tuesday 21 June 2011

Mission Capital PlcTrading Update & Contract Wins

Mission Capital Plc ("Mission Capital" or the "Company") is pleased to provide its first half year pre close period Trading Update following the acquisition of the whole of the issued share capital of Quindell Limited, a reselling and sales outsourcing company with expertise in technology, telecoms, utilities, leisure and franchise, which the Directors believe has significant potential for growth.

Trading has continued to be strong with positive cash generation since the Company's last Trading Update on 17 May 2011. The business has completed a number of key milestones in leveraging its technology and business process consultancy within both its own operations and with third party clients.

Strategic Agreements, Initial Proof of Concepts and Contract Wins across all three main areas of the business during the first half of the year, have provided confidence for the Directors that the Company will continue to demonstrate significant growth in the second half of the year and beyond. First half key milestones include

·; STRATEGIC ALLIANCE AGREED with 360 Global Limited ("360") to work in partnership in certain consultancy engagements in the Insurance Sector. The 360 Group provides innovative decision-support technology, products and services primarily to the financial services industry:

- INVESTMENT of circa £0.3m made by the Company to acquire specialist technology to use in Model Office Environments to demonstrate the potential benefits of the application of disruptive technologies and leading practice techniques in reducing the cost of claims and enabling business process re-engineering within the supply chain; and

- INITIAL PROOF OF CONCEPTS We are working directly or indirectly with half of the top ten UK general insurers and we have completed successful proof of concepts for two of the three largest Insurance Brokers in the world.

·; STRATEGIC REVIEW of the Company's Finance, Insurance, Telecoms and Utilities product offerings has aligned the business strategy with a focus on delivery of benefits and quality of service to clients through two key principles:

- 'WATCH' & 'ADVISE' - Watching market trends and drivers and Advising Clients of which market propositions will most benefit them;

- INDEPENDENCE to adopt this strategy the Company and its associates have to be independent of any supplier when dealing with business customers. Therefore any contract or agreement that potentially restricted the offering of best advice to clients or moving a client to another supplier has been terminated. Notwithstanding this, the Company remains in a position to access, directly or indirectly, all major suppliers and networks within the Utilities and Telecoms Market; and

- BILLING PLATFORM IMPLEMENTED the Company is now in a position to offer its own Fixed Line Telecoms Offering and Mobile Virtual Network Offering where these provide better value for our clients or major Affinity Groups.

·; MAJOR CONTRACT WINS the Company and its associates have signed a number of major Affinity Group contracts for Utilities and Telecoms including:

- An agreement to provide Utilities contracts to circa 3,000 members of the Good Garages Scheme. The results of the first 9 weeks following the first customer contact were 213 requests. 52 of these requests were out of contact and therefore eligible for signing and 92% of these were transferred to a new supplier, with an average saving of 22% for Electricity and 17% for Gas. Additional signings are expected to continue as requests escalate and existing contracts expire throughout the second half of the year;

- In June a contract was agreed to allow access to a base of circa 15,000 customers of a major Telecoms Fixed Line Provider. Historic work with this partner's customer base with circa 20 of its larger clients is already generating approximately £100,000 of gross profit for recognition over a 3 year period; and

- Two contracts have been signed with major Food and Beverage chains, the first with circa 425 outlets being Robinsons Brewery and the other with over 180 franchise outlets being Wimpy.

·; LEISURE AND FRANCHISE business area has agreed, subject to final contract terms, its first franchise for the Indoor Golf City concept with initial franchise fee of £0.2m and contractual revenue of a further £0.2m over the initial five year period.

·; ACQUISITION OF BUSINESS ADVISORY SERVICE LIMITED ("BASL") As announced earlier today, the Company has acquired the entire issued share capital of BASL. This augments the Company's existing Finance, Insurance, Telecoms and Utilities product offerings.

For further information:

Notes to Editors

About Quindell and Mission Capital Plc

Mission Capital Plc is the holding company of Quindell which was founded in 2000 and develops, provides and utilises its own multi-channel e-business based Enterprise Resource Planning and Business Process Management solutions and related services to facilitate efficient and effective management of customer acquisition and servicing within finance, insurance, telecoms, utilities and other related industries. Quindell also develops and operates a leisure business model utilising its Enterprise Resource Planning solutions as a reference environment for its own technology and cross selling solutions, to be resold to third parties leisure businesses or via franchise models. Quindell provides consultancy on, and fully utilises within its own operations, online strategies, permission based marketing, membership models and cross selling to maximise revenue per customer.

For further information, please visit www.quindell.com or www.missioncapitalplc.co.uk

About 360 Global Limited

The 360 Group provides innovative decision-support technology, products and services primarily to the financial services industry.

For further information, please visit Error! Hyperlink reference not valid.www.360globalnet.com