Investment/RPT/Trading Update

RNS Number:1885T
Secora PLC
28 April 2008


28 April 2008
Secora plc invests in Miller Harris Limited
Related Party Transaction & Trading Update

Secora plc, the investment company focusing on the development of consumer
lifestyle brands in the entertainment, leisure, fashion and health & beauty
sectors, is pleased to announce that it has agreed to subscribe for a 13.47%
equity stake in Miller Harris Limited ("Miller Harris") for a consideration of
#350,000 in cash.

Miller Harris is a specialist luxury, independent fragrance house in the UK
producing fragrances and ancillary products under the Miller Harris brand
(website www.millerharris.com). The business was founded in 2000 by Lyn Harris
and currently trades through two retail stores in London and department stores
in London, New York, Tokyo and Paris. For the 12 months ended 31 March 2007
Miller Harris generated turnover of #1.3m, a loss before tax of #0.3m and had
net liabilities of #0.1m.

The funds invested by Secora in Miller Harris will be used to support the growth
of the Company through furthering product development, opening a new store,
providing working capital and recruiting key members of the management team.
This includes the recent appointment of Ruth Harrison as managing director who
was previously general manager for Jo Malone UK & Ireland, part of the Estee
Lauder Companies. Her previous experiences include an international marketing
role at The Body Shop Middle East and operations manager at Elizabeth Arden UK.

Secora's investment is classified as a related party transaction for the
purposes of the AIM rules by virtue of the fact that Miller Harris is an
associate both of Richard Thompson and of Rupert Horner, Secora's Chief
Executive and Finance Director respectively, who together control approximately
29% of the shares in Miller Harris before Secora's investment and approximately
25% following Secora's investment.

The Board of Secora have also reached a separate agreement with Richard Thompson
that he will not sell his stake in Miller Harris to any third party for a period
of not less than six months from the date of the agreement without first
offering it to Secora. Furthermore, in the event that Mr Thompson receives and
accepts an offer for his stake from a third party at a valuation in excess of
that at which Secora has invested, he will ensure that Secora also has the
ability to sell its stake that higher valuation should the Board of Secora
determine that it is in the best interest of shareholders at that time.

In accordance with the AIM rules, the Independent Directors, having consulted
with the Company's Nominated Adviser Brewin Dolphin Limited, consider the terms
of the investment agreement with Miller Harris and the agreement with Richard
Thompson to be fair and reasonable insofar as the Company's shareholders are
concerned. In advising the Independent Directors Brewin Dolphin has taken
account of the Independent Directors' commercial assessment of the transaction.

Commenting on the investment, Marcus Yeoman, Chairman of Secora, said:

'We are extremely pleased to announce our first investment following shareholder
approval to broaden the scope of our investment strategy. We have been following
Miller Harris for some time and believe the business and its products have
significant market potential. Lyn Harris is extremely talented and has great
vision for the business. The appointment of Ruth adds significant strength to
the commercial team and the prospects for Miller Harris to develop into a
leading luxury brand in the next three to five years, thus validating our
investment strategy".

Secora trading update

Secora's retained investments have continued to perform in line with management
expectations and as a result of the non-recurring profit from the sale of the
Company's remaining holding in Premier Exhibitions Inc. (as announced in
November 2007), the profit before tax for the year to March 31, 2008 will be
ahead of market expectations.

The Company retains its investment via Old Vic Productions plc in Billy Elliot
the Musical and the directors are actively considering a number of new
investments in line with the recent broadening of the strategy endorsed by
shareholders at the Extraordinary General Meeting held on March 25, 2008.

For further information, please contact:

Secora plc                                                         0207 039 0187
Marcus Yeoman Chairman
Richard Thompson / Jemma George Executive Directors

Brewin Dolphin (NOMAD)
Richard Evans / Alison Barrow                                      0845 213 4852

END.



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