Statement re Suspension

    9 June 2008

                               Pine Ventures plc                               

                                (the "Company")                                

                            Statement re Suspension                            

Further to previous announcements regarding the search for a potential
acquisition target in accordance with the Company's investment strategy, as
approved by shareholders on 6 June 2007, the Company has, to date, been unable
to complete any such acquisition and in accordance with Rule 15 of the AIM
Rules the Company's shares have been suspended with effect from 7.00 a.m.
today.

The Company's investment strategy is to acquire another company or business in
the software sector in the UK, Europe or North America and the Board is
currently in discussions with various parties which may or may not lead to a
successful acquisition.

Commenting, Lord Beaverbrook, Chairman said

"It is disappointing that we have been unable to complete an acquisition within
the requisite time frame stipulated in the AIM Rules. However, the Board is
committed to completing a transaction and believe that additional funds will be
available to the Company once a suitable target has been identified. We
continue to actively negotiate with various parties and anticipate making an
announcement before trading in the shares is cancelled."

There is no guarantee that the Company will make an acquisition. In accordance
with the AIM Rules, in the event an acquisition has not been made within six
months of the date of this announcement trading in the Company's shares will be
cancelled.

                                   - ends -                                    

Enquiries:

Lord Beaverbrook, Chairman              020 7235 3131                          
                                                                               
Pine Ventures plc                                                              
                                                                               
Simon Clements                          020 7628 2200                          
                                                                               
John East & Partners Limited                                                   
                                                                               
Trevor Phillips                         020 7929 5599                          
                                                                               
Square1 Consulting Limited                                                     



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