Statement re Trading Update

    10 October 2008
                                                                         GB00B1G49D82/GBP/PLUS-exn
                                  Livewave Media plc
                                                 
                                  Trading Update
                                                 
                                                 
The Board of Livewave Media plc ("Livewave" or the "Company") today issues the following update on
trading:


The  Board has been working at raising capital for the Company for the last three months  to  fund
the expansion of its operating subsidiary Wavefinder Ltd  ("Wavefinder")and to cover the costs  of
making an acquisition. It has not been able to raise sufficient capital to cover the costs of both
activities and the Board has therefore decided to take the following action.

    1.       Negotiate a management buy-out of Wavefinder. Upon completion, this will involve  the
        cancellation of the 1,875,000 shares issued on the acquisition of Wavefinder and the 1,500,000
        warrants exercisable at 20p per share. Wavefinder will pay the Company an additional £35,000
        payable on the closing of the transaction which will be used to pay Livewave's creditors. The
        issued share capital of Livewave would then be 6,500,000

    2.      The Company is in negotiations which might lead to a possible reverse take-over of the
        Company. The Directors look forward to updating shareholders as soon as more news  becomes
        available.

        The shares in Livewave will remain suspended pending the outcome of the negotiations.

The  Board  believes  that  the above action is in the best interests of  shareholders  given  the
reluctance  of  investors  in  small capitalised companies in the current  financial  climate.  If
successful,  the Directors believe that the action will result in Livewave becoming  a  profitable
company with a positive cash flow.

The Directors of the Issuer accept responsibility for the announcement.

Contact
Gary Smith       Livewave Media plc                02078513800

Duncan Vasey     St Helen's Capital                02076285582



								
Livewave Media plc