Notice- EGM of Warrantholders

RNS Number:2486U
Xceldiam Limited
02 April 2007





                                Xceldiam Limited

                         ("Xceldiam" or the "Company")


        Notification of Extraordinary General Meeting of Warrant Holders


Xceldiam confirms that a notice of an extraordinary general meeting of the
holders of the tradable warrants in Xceldiam (the "Warrant holders") including
an explanatory letter from the Xceldiam Board, has been dispatched to its
Warrant holders today. The meeting is to be held at the registered office of
Xceldiam at Clarendon House, 2 Church Street, Hamilton, HM 11 Bermuda at 9:00
a.m. (Atlantic DST) on 24 April 2007 (the "Warrant holder's EGM").

The Warrant holder's EGM has been convened by the board of Xceldiam, who are
proposing a change to the Warrant Instrument created by the Company and dated 10
November 2005 (the "Warrant Instrument"). In accordance with the terms of the
Warrant Instrument, such changes require the approval of the Warrant holders at
an extra ordinary general meeting.

The directors of the Company are proposing that the subscription price of the
Warrants be changed from 50p to 1.7p and that the period in which the warrants
can be exercised, be extended by four months to 19 March 2008 (which would bring
the exercise period in line with the timeframe for implementing the Company's
investing strategy, notified to shareholders on 2 March 2007).


EGM Notice

The EGM Notice contains two extraordinary resolutions ("the Resolutions") as set
out below;


1.      THAT clause 1.1 of the Warrant Instrument be amended so that the
definition of "Subscription Period" which currently reads "the period commencing
on the date of Admission and terminating 24 calendar months thereafter "be
amended so as to read: "the period commencing on the date of Admission and
terminating on 19 March 2008"; and

2.      THAT clause 5 of the Warrant Instrument which currently reads "Subject
to adjustment pursuant to clause 7, the Subscription Price for each Warrant
Share shall be the price of 50p"  be amended so as to read "Subject to
adjustment, pursuant to clause 7, the Subscription Price for each Warrant Share
shall be the price of 1.7p".


All other terms in the Warrant Instrument shall remain unaffected





For further information please contact

WH Ireland Limited                                         Tel: [phone]
David Youngman/Katy Mitchell
Xceldiam Limited                                           Tel: [phone]
Mark Summers





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