Completion of Bank Sale

TUNGSTEN CORPORATION PLC 

("Tungsten" or the "Company")

For Immediate Release

22 December 2016

Tungsten Completes Sale of Tungsten Bank

Tungsten Corporation plc (LSE: TUNG), the global e-invoicing, purchase order services, analytics and financing company, announces that the sale of Tungsten Bank plc, now renamed Wyelands Bank plc (the "Bank") completed on 21 December 2016.

In completing the disposal of the Bank to Wyelands Holdings Limited, Tungsten received £25.0 million in cash which, together with £4.6 million of cash already received in connection with the disposal, amounts to an aggregate cash consideration for the business of £29.6 million.

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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, 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.