Exercise of Options

21 November 2014



Gamma Communications plc

("Gamma Communications plc" or the "Company")

Exercise of Options

The Company confirms that following the receipt of notices of exercise of options, it has today issued 202,381 Ordinary Shares (the "New Ordinary Shares"). Within this figure 118,381 relate to the exercise of options by Gerard Sreeves, a former director of the Company, and 84,000 relate to the exercise of options by employees.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 26th November 2014.

Following the issue of the New Ordinary Shares, the number of Ordinary Shares in issue will increase to 88,529,127. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following this allotment consists of 88,529,127 Ordinary Shares with voting rights attached. There are no Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, Gamma Communications plc under the DTRs.

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