Joint Statement - Poss Offer

RNS Number:1500E
XploiTe PLC
19 September 2007


19 September 2007


           Red Squared plc ("Red Squared") & Xploite plc ("Xploite")


                        Joint Statement - Possible Offer


The Boards of Red Squared and Xploite have noted recent press speculation and
confirm that Xploite is in discussions with Red Squared which may or may not
lead to a recommended cash offer for the entire issued share capital of Red
Squared. It is envisaged that any offer, were it to be made is likely to be at
or around 10 pence.

Further announcements will be made in due course as and when necessary.

Red Squared confirms that it has 28,351,400 ordinary shares of 0.5p each in
issue with ISIN GB0002892635 in accordance with Rule 2.10 of the City Code.


Nominated Advisers:

Red Squared Plc

Daniel Stewart and Company plc
Paul Shackleton Tel. [phone]

Xploite Plc

KBC Peel Hunt Limited Tel. [phone]
Richard Kauffer
Nicholas Marren

Dealing Disclosure Requirements


Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"Code"), if any person is, or becomes, "interested" (directly or indirectly) in
1% or more of any class of "relevant securities" of the Company, all "dealings"
in any "relevant securities" of that company (including by means of an option in
respect of, or a derivative referenced to, any such "relevant securities") must
be publicly disclosed by no later than 3.30 pm (London time) on the London
business day following the date of the relevant transaction. This requirement
will continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the "offer period" otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
"interest" in "relevant securities" of the Company, they will be deemed to be a
single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of Red Squared by Xploite, or by any of their respective
"associates", must be disclosed by no later than 12.00 noon (London time) on the
London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel."

Daniel Stewart and Company plc is acting for Red Squared and no one else in
connection with the Offer and will not be responsible to anyone other than Red
Squared for providing the protections afforded to clients of Daniel Stewart and
Company plc or for providing advice in relation to the Offer or any matter
referred to in this announcement.

KBC Peel Hunt Limited is acting for Xploite and no one else in connection with
the Offer and will not be responsible to anyone other than Xploite for providing
the protections afforded to clients of KBC Peel Hunt Limited or for providing
advice in relation to the Offer or any matter referred to in this announcement.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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