Bluehone Holdings Plc

December 31, 2009 02:00 ET

Strategic Investment Update

                                           Bluehone Holdings plc
                                              (the "Company")

                                        Strategic Investment Update

The  strategic investment in St Helen's Capital Plc ("St Helen's") and the associated issue of  equity,  as
announced on 23 November 2009, was conditional upon the St Helens's shareholders passing both ordinary  and
special  resolutions  to  allow  the issue of equity. Despite a majority of  the  St  Helen's  shareholders
supporting  the  transaction, a minority voted against a number of resolutions and the special  resolutions
were  not  passed. As St Helen's will be unable to satisfy the terms of the agreement, the investment  will
not now go ahead on the terms agreed but may be revisited in the future.

The  Company  confirms that following the issue of equity this month to Winterflood Securities Limited,  as
previously  announced on 14 December 2009, the total issued share capital of the Company as at 31  December
2009  is  118,920,411. The Company holds no ordinary shares in treasury. Therefore,  the  total  number  of
voting  rights  in the Company is 118,920,411. The above figure may be used by shareholders in  determining
whether they are required to notify their interest in, or a change to their interest in, the Company  under
the Disclosure and Transparency Rules.


Bluehone Holdings plc
John Wheatley                              07836 601938
Bill Brown                                 020 7496 8929

Charles Cunningham              020 7600 1658
Ed Frisby

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