Statement re Suspension

    Innobox Plc                                  

                         ("Innobox" or the "Company")                          

                           Statement re: Suspension                            

Innobox announces that trading in the Company's shares will be suspended with
effect from 7.00 a.m. today in accordance with AIM Rule 1 due to the
resignation of the Company's Nominated Adviser, Hanson Westhouse Limited
("HansonWesthouse"). The directors would like to take this opportunity to thank
HansonWesthouse for their support and guidance.

The directors are seeking to appoint a new Nominated Adviser for the Company in
conjunction with their search for a reverse takeover opportunity. The directors
are in discussions with a number of parties in connection with such a
transaction.

In accordance with the AIM Rules, the Company has a period of one month to
appoint a new Nominated Adviser. If the Company fails to appoint a replacement
adviser within this period, the admission of its shares to trading on AIM will
be cancelled.

As announced in the interim report on 30 January 2008, the directors had been
taking the advice of an insolvency practitioner with regards to the substantial
liabilities of the subsidiary companies Moss Cottage Hotels Limited ("MCHL")
and I M Hotels Limited ("IMHL"). Following these discussions the directors
proposed a Company Voluntary Arrangement ("CVA") for each company as a way to
provide the maximum return to members and creditors. The CVA approval meetings
were held for MCHL and IMHL on 20 March 2008 and both CVA schemes were
approved.

A further announcement will be made when appropriate.

Enquiries:

Arthur Baker                            07850 276928                           
                                                                               
Non-executive Chairman                  [e-mail]                     



END