Stavert Zigomala

October 17, 2008 07:33 ET


                                         Stavert Zigomala plc
                                      Statement to Stock Exchange

The Directors regret to inform the Stockholders  that the Company holds a deposit account at Kaupthing
Singer & Friedlander ("KSF") with a balance of approximately £695,000.   The Directors have been
advised that KSF has been placed in Administration by the Financial Services Authority.

The Directors do not consider that the deposit is likely to be protected under the guarantees given by
the UK Government in relation to retail deposits, but that the Company may qualify as a small business
under the Financial Services Compensation Scheme to the extent of the first £50,000. Unless wider
support is given to wholesale depositors then any return in relation to the balance is of uncertain
amount and is unlikely to become available in the near future.

Further information will be supplied to Stockholders in due course.

Edward N. Cooper

17th October 2008

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