Funding Update

30 November 2011

Cosalt plc

("Cosalt" or "the Group")

Funding update

On 23 November 2011, the board announced that Cosalt had sufficient working capital until 30 November 2011. The board is continuing to manage the Group's working capital position in order to remain within its available banking facilities and is grateful for the support of the Group's customers and suppliers. The board is also maintaining an ongoing, constructive dialogue with David Ross regarding his financial support during the period up until 20 December 2011, the earliest date by which Mr Ross' offer could be declared unconditional.

 Enquiries: 

Cardew Group Tel: +44 (0) 207 930 0777

Tim Robertson / Sophie Leigh Pemberton