Placing

3 May 2007 14:00

Cubus Lux plc03 May 2007 CUBUS LUX PLC PLACING TO RAISE £1.56 MILLION Cubus Lux plc ("Company"), the Croatian leisure and tourism company, today announces the successful placing of 9,570,000 new ordinary shares of 1 penny each in the Company ("Ordinary Shares") at a price of 16.275p per new Ordinary Share, raising £1,558,000 for the Company, before expenses. The funds raised will be used for working capital purposes and for the development of two new real estate projects around Zadar, Croatia. The first project is a mixed commercial/residential building close to the city center of Zadar. The second project is also a mixed commercial/residential 5 storey building that is in close proximity to the Borik hotel and resort area and the Borik marina. Application has been made for the new Ordinary Shares to be admitted to AIM and dealings are expected to commence on 10 May 2007. Following the placing, the number of Ordinary Shares in issue will be 97,452,518. Gerhard Huber, Chairman of Cubus Lux, commented: "We are very pleased to raise these additional funds which will enable us to develop these interesting projects in Zadar. Whilst Cubus Lux's current focus remains on resorts, marinas and casinos, these projects present tremendous opportunities in close proximity to our existing sites on Dalmatian coast." For further information please contact: Cubus Lux Plc Stephen McCann, Director +385 (0) 99 214 9636 Blue Oar Securities* Oliver Cairns/Romil Patel 020 7448 4400 Threadneedle Communications Graham Herring/Alex White 020 7936 9605 *Blue Oar Securities was formerly Corporate Synergy and acts as Nominated Adviser & Broker for the Company This information is provided by RNS The company news service from the London Stock Exchange