Inch Cape Wind Farm Interim Development Agreement

Date: 15 December 2010

SeaEnergy PLC

("SeaEnergy" or the "Company")

Interim Development Agreement for Inch Cape Offshore Wind Farm Project

SeaEnergy PLC is pleased to announce that its 80% subsidiary SeaEnergy Renewables Limited (SERL) has signed an Interim Development Agreement (IDA) with The Crown Estate regarding certain Inch Cape wind farm development activities.

The IDA formalises the Heads of Terms agreement announced in September 2010, stating that The Crown Estate will directly invest up to £1.4 million in key surveys and reports for the Inch Cape project, which will be directly contracted and managed by SERL.

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For further information contact:

SeaEnergy PLC +44 1224 748480

Steven Bertram - Managing Director

SeaEnergy Renewables Limited +44 1224 766100

Joel Staadecker - Chief Executive 

Ambrian Partners Limited - NOMAD & Broker +44 20 7634 4700

Andrew Craig, Ben Wright

Kreab Gavin Anderson +44 20 7074 1822

Kate Hill, Ken Cronin, Andrew Jones

The Crown Estate +44 20 7851 5311

Clare Lovett - Media Relations Manager

NOTES TO EDITORS

SeaEnergy PLC

SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited (SERL) is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world's first deep water wind farm development - the Beatrice Demonstrator offshore wind farm (10MW) (the "Beatrice Demonstrator Project") which is owned and operated by Talisman Energy. The Beatrice Demonstrator Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SERL team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.

Prior to the UK Round 3 award SeaEnergy had secured a 25% interest in two Scottish offshore wind farm sites, Beatrice and Inch Cape. The award of Zone 1 in the UK Round 3 leasing programme with partners EDP Renováveis takes SeaEnergy's net capacity in the UK to over 781MW. SeaEnergy has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation and a Strategic Cooperation Agreement with Nantong COSCO Ship Steel Structure Co. Ltd (NCSC) to develop and market steel structures for the offshore wind industry.

www.seaeenergy-plc.com

The Crown Estate

·; The Crown Estate manages a highly diverse property business valued at £6.6 billion.

·; The Crown Estate pay all of its surplus revenue (profit) to the Treasury for the benefit of the nation every year: in 2009/10 this was £210.7 million. Over the past ten years The Crown Estate has paid a total of £1.9 billion to the Treasury.

·; The Crown Estate's objectives, which are laid down by Parliament under the Crown Estate Act 1961, include enhancing the value of the estate and the revenue it produces.

·; The responsibilities of The Crown Estate is to maintain and enhance the value of the estate and its income over the long term and to do this having regard to good management. In summary, The Crown Estate is a successful business organisation guided by its core values - commercialism, integrity and stewardship.

·; The Crown Estate manages a diverse property portfolio which includes office, retail and industrial premises; housing; farmland; forestry and minerals; parkland; and around half the foreshore and almost all the seabed around the UK.

·; The Crown Estate's property comprises four estates: Urban, Marine, Rural and Windsor.

- The Crown Estate's marine properties include around half the UK's foreshore (17,00km), tidal river beds and estuaries and almost the entire seabed out to the 12 nautical mile (nm) territorial limit around the UK. It also includes the rights to the natural resources in the UK Continental Shelf, with the exception of oil, coal and gas. The Crown Estate issues leases for the development of windfarm sites within the 12 nm, whilst the Energy Act 2004 gives us the right to issue leases for development beyond the territorial limit within the Renewable Energy Zone (REZ) out to 200nm.

- In 1999 The Crown Estate established its programme of Marine Stewardship to provide funding to support practical projects, relevant research, and other initiatives that improve the status and management of the marine estate.

www.thecrownestate.co.uk