Placing & Admission to AIM

RNS Number:5526E
Clerkenwell Ventures PLC
29 October 2004


                            CLERKENWELL VENTURES PLC
                                ("the Company")

29 October 2004

          CLERKENWELL VENTURES ANNOUNCES DETAILS OF #3.9 MILLION SHARE
                          PLACING AND ADMISSION TO AIM
                                        
Clerkenwell Ventures today announces details of its admission to AIM:

Highlights:
- Placing price: 7 pence per share
- Number of Placing Shares to be issued: 55,714,286
- Number of Ordinary Shares in issue on Admission: 68,911,145
- Market capitalisation following the Placing at the Placing Price: #4.8 million
- Strong institutional investor base

Expected timetable:
- Admission and dealings in Ordinary shares to commence on AIM today
- CREST accounts credited today
- Dispatch of definitive share certificates by 5 November 2004

Clerkenwell Ventures' strategy is to acquire established, high-growth businesses
of scale in the leisure sector which have been and can be expanded by organic
growth and/or acquisition.

The Company has a very experienced and ambitious management team who have a
number of potential targets under review across the leisure sector. However, it
is anticipated that any acquisition will have its own dedicated and experienced
executive board.

David Page, non-executive Chairman, is the former CEO of PizzaExpress PLC, who
over 10 years grew the company from 23 to more than 350 company restaurants.
David co-founded and is Chairman of Clapham House Group, a restaurants company
which floated on AIM in November 2003.

Tom Quigley, non-executive director, is a Chartered Accountant and former
Managing Director of Close Brothers Corporate Finance. He is a Managing Director
of ING Corporate Finance and head of the leisure, hospitality and retail sector
team.

Paul Campbell, non-executive director, is a Chartered Accountant and a former
director of Kunick and CEO of Relaxion, where he was a member of the management
team that grew the leisure management business from 10 to 110 sites. He is a
former Finance Director of PizzaExpress PLC and he is currently chief executive
of Clapham House Group.

The Directors and their families have all invested in the business and a small
group of anchor investors predominantly from the leisure industry have in total
invested more than #450,000.

David Page, non-executive Chairman of Clerkenwell Ventures, said:

"This placing positions Clerkenwell Ventures to generate attractive returns to
its shareholders through a subsequent acquisition. We have identified a number
of potential targets in the leisure sector, although discussions are clearly at
an early stage."

                                     -ends-

For further information please contact:

Clerkenwell Ventures
David Page                                    07836 346934

Seymour Pierce                                020 7107 8000
Louise Carpenter

Gainsborough Communications                   020 7841 1021
Andy Cornelius/Julian Walker




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