Directorate Change

VELA TECHNOLOGIES PLC - Directorate Change

PR Newswire

London, March 5

Vela Technologies has received notification from Adrian Moss of his decision tostep down as a Non-Executive Director of the Company with immediate effect.

The Board wishes to thank Adrian for his contributions to the Company and inparticular the assistance he gave to the smooth transition to new managementafter the change in control following the recent refinancing transaction.

FOR FURTHER INFORMATION, PLEASE CONTACT

Vela Technologies plc is a UK incorporated investment Company looking toacquire and consolidate holdings in Small and Medium sized Enterprises (SME's)which are active in the development of emergent technologies, hi-techengineering and scientific advances to expedite company growth and expansion.As a result of the recent global financial crisis, and the ongoing period offinancial austerity, companies have become increasingly reliant on suchadvances to improve profitability or efficiency. These technologies areapplicable across a wide range of sectors including anything from Oil & Gas E&P, eCommerce to Aviation. Early acquisition of such innovative technologiesshould provide the opportunity to optimise returns for Shareholders.