Transaction in Own Shares

Thalassa Holdings Ltd

(AIM: THAL)

("the Company")

TRANSACTION IN OWN SHARES

The Board of the Company is pleased to announce that it has privately placed 200,000 ordinary shares of US$0.01 each ("ordinary shares") out of Treasury at a price of 30p per ordinary share raising gross proceeds of £60,000. The transaction is expected to close on 26 August 2010. The placing price is at a 100 per cent. premium to the price at which the Company acquired the shares in June 2009.

Following the private placement the Company's issued share capital, excluding Treasury shares, comprises 7,200,000 ordinary shares of US$0.01 each. The total number of ordinary shares held in Treasury is 1,300,000.

Contact:

Duncan Soukup, Executive Chairman Tel: + 33 (0)6 78 63 26 89

Thalassa Holdings Ltd

Oliver Rigby Tel: + 44 (0)20 7776 6550

Daniel Stewart & Company plc