Aspartus plc

July 31, 2009 07:25 ET

Issue and conversion of loan notes

                                               ASPARTUS PLC
                       Issue of convertible loan notes and conversion of loan notes
Aspartus  Plc  ("Aspartus"  or "the Company") is pleased to announce that it  has  issued  GBP40,889.40  of
Convertible  Unsecured  Loan  Notes  2012  which, once the monies  are  advanced  by  the  noteholder,  are
convertible at a subscription price of GBP0.00045 per Ordinary Share. The balance of the principal  of  the
loan which has not been repaid or converted into Ordinary Shares by 30 June 2012 is repayable on that date.

The  funds  will  be used to provide working capital for the Company the maintenance of  the  listing  and
administration while we continue to actively seek new opportunities to enhance shareholder value.

The  Company  is  also pleased to announce it has simultaneously accepted a conversion notice  from  Cairns
Investment Holdings Limited, the holder of Convertible Unsecured Loan Notes 2010, to convert GBP800 of loan
notes into 16,000,000 ordinary shares and a conversion notice from Westward Consultants Limited, the holder
of  the  Convertible Unsecured Loan Notes 2012 referred to above, to convert GBP7,200 of  loan  notes  into
16,000,000 ordinary shares.

Accordingly, 32,000,000 new Ordinary Shares in the Company have been issued in satisfaction thereof.

Following the issue of these shares, the shareholdings of the directors has not changed but the percentage
holdings are now as set out below:

DIRECTOR             NO. OF SHARES          %
Leo Knifton          5,166,667             9.7
Nigel Weller         5,166,667             9.7
Stephen Oakes        5,166,666             9.7

The Company has been notified of the following interests in its issued share capital:

SHAREHOLDER                               NO. OF SHARES                 %
Cairns Investment Holdings Limited        16,000,000                   29.9
Westward Consultants Limited              16,000,000                   29.9

The  beneficial  owner of Cairns Investment Holdings Limited is Mr David Rowland. The beneficial  owner  of
Westward Consultants Limited is Mr Stephen Wheatley.

The Company now has 53,459,350 shares in issue.

The Directors of the Issuer accept responsibility for this announcement.


Nigel Weller, Director
Aspartus plc
Tel: 020 7309 2281

Nick Michaels
Alfred Henry Corporate Finance Limited
Tel: 020 7251 3762

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