Exercise of Option and Temporary Suspension

24 Dec 2007 11:00

Cubus Lux Plc (the "Company") Exercise of option and Temporary Suspension

Further to the announcements made by the Company on 13 March 2007, 13 July 2007 and 1 October 2007 the board announces that the Company has now exercised the option over the Olive Island land. The acquisition of this land will constitute a reverse takeover under the AIM Rules, and accordingly will be subject to shareholder approval.

The Company has requested that its shares are temporarily suspended from trading on AIM until such time as an admission document is posted to shareholders which will, inter alia, seek the consent of shareholders to enter into the transaction. The Company hopes to post this admission document to shareholders in the near future.

A further announcement will be made in due course.

For further information please see www.cubuslux.com or contact:

Steve McCannCubus Lux plc+385 (0)99 214 9636Simon Sacerdoti/Liam MurrayCity Financial Associates Limited+44 (0)20 7492 4777Kealan DoyleLewis Charles Securities Limited+44 (0)20 7456 9100Neil BadgerEllis Stockbrokers Limited+44 (0)1293 517 744