Further re: Board Appointments

8 Aug 2007 12:46

CUBUS LUX PLC (the "Company") Further re: board appointments

On 18 May 2007 the Company announced the appointment of Francisco Alvarez as a non-executive director of the Company.

The Company has received advice from its solicitors that the appointment was not legally valid or effective as the Company's articles of association provide that the Company cannot have more than 7 directors. The appointment of Francisco Alvarez would have resulted in the Company having a total of 8 directors.

The Company intends to seek shareholder consent at a forthcoming general meeting to amend its articles of association to permit further board appointments. The directors hope to invite Mr Alvarez to join the board when it becomes possible, either upon a vacancy arising within the board of directors, or following the passing of such a resolution by the shareholders.

The board apologises to Mr Alvarez for the inconvenience caused

For further information please contact:

Leon Nahon +44 (0)7920 834 156Cubus Lux plcLiam Murray/Simon Sacerdoti +44 (0)20 7090 7800City Financial Associates LimitedGraham Herring/Josh Royston +44 (0)20 7936 9605Threadneedle Communications Limited