Green Chemicals plc - Change in notifiable interest in ordinary share capital

22 Jul 2008

The IP Venture Fund ("IP Ventures") and Techtran Limited ("Techtran"), subsidiaries of IP Group Plc, are interested respectively in 454,545 and 1,950,545 ordinary shares of 5 pence each ("Shares") of the Company, formerly representing 5.71 per cent and 24.50 per cent of the issued share capital of 7,961,817 Shares. IP Ventures and Techtran are connected and between them held a controlling interest as defined in the City Code on Takeovers and Mergers of 30.21 per cent, or 2,405,090 Shares.

On 3 July 2008, the Company announced that it had placed 64,935 new Shares with a third party.  The Shares due to be issued under the placing have been allotted and the issued share capital of the Company now consists of 8,026,752 Shares. Following this capital increase, IP Ventures' interest now represents 5.66 per cent of the issued share capital and that of Techtran now represents 24.30 per cent, bringing their aggregate interest to 29.96 per cent. IP Ventures and Techtran are accordingly no longer deemed collectively to hold a controlling interest in green chemicals plc.

 David Norwood          Clemmie Carr              Graham Atthill-Beck
 Stephen Winston        Simon Hudson
 green chemicals plc    Tavistock Communications  Hichens Harrison & Co. plc
 Tel: +44 20 7873 2190  Tel: +44 20 7920 3150     Tel: +971 50 856 9408 or
                                                    +971 4 343 1330