Placing Price Agreement

    HILL STATION PLC ("HILL STATION" OR THE "COMPANY")               

 PLACING PRICE ANNOUNCEMENT, MINIMUM SUBSCRIPTION SATISFIED AND RELATED PARTY  
                                  TRANSACTION                                  

On 30 July 2007, Hill Station, the Cwmbran based ice cream manufacturer
announced its intention to raise a minimum of £3,000,000 in order to provide
additional working capital to the Company and the cash element of the
consideration of The So Real Ice Company Limited ("Real Ice").

The Company today announces it has conditionally raised £3,300,000 (before
expenses), by the placing of 1,320,000,000 new Ordinary Shares to institutional
and other investors in connection with the proposed placing (the "Placing") at
a price of 0.25 pence per Ordinary Share (the "Placing Price").

The Placing is conditional, inter alia, upon shareholder approval at the EGM
which has been convened for later today.

SUMMARY OF THE PLACING

  * Gross proceeds of the Placing £3,300,000;
   
  * £650,000 of the net proceeds will be used as the cash consideration
    component for the Real Ice acquisition and the balance, net of expenses of
    approximately £300,000, will be applied to pay overdue creditors and to
    provide additional working capital for the Group;
   
  * The issued share capital as enlarged by the shares, the conversion of the
    July 2007 Loan Stock and the issue of vendor consideration for the
    acquisition of Real Ice will be 2,325,188,070 Ordinary Shares. The Placing
    shares will represent approximately 57 per cent. of the enlarged issued
    share capital;
   
  * Based on the Placing Price, the market capitalisation of the Company on
    admission of the new ordinary shares would be approximately £5,812,970;
   
Dealings in the new ordinary shares are expected to commence on AIM at 8:00
a.m. on 22 August 2007.

RELATED PARTY TRANSACTION

Of the 1,320,000,000 new Ordinary Shares issued pursuant to the Placing, a
total of 47,000,000 new Ordinary Shares have been placed with VCTs administered
by Rathbone Investment Management Limited ("Rathbone").

Rathbone, together with their respective underlying funds, have been deemed to
be a substantial shareholder for the purposes of this transaction. Rathbone has
subscribed for £117,500 of new Ordinary Shares in the Placing and this is
therefore a Related Party Transaction as defined in the AIM Rules for
Companies.

Where a company whose shares are listed on AIM enters into a Related Party
Transaction, AIM Rule 13 requires the directors of the Company to consider,
having consulted with the Company's nominated adviser, that the terms of the
transaction are fair and reasonable insofar as its shareholders are concerned.
The Directors consider, having consulted with CFA, the Company's Nominated
Adviser, that the terms of the related party transaction with Rathbone is fair
and reasonable insofar as the Company's shareholders are concerned.

Commenting on today's announcement, Bill Mapstone, Chairman of Hill Station,
said:

"We believe that the fundraising will enable the Company to have a viable
future and it is capable of creating shareholder value in the medium term
through growth by acquisition."

Enquiries:

Bill Mapstone, Chairman

Hill Station Plc

Tel [phone]

Tony Rawlinson, Nominated Adviser

City Financial Associates Limited

Tel [phone]



END