Mission Capital PLC
30 April 2008


30 April 2008

Mission Capital Plc (the 'Company')

AGM Statement

The Company's interim results for the half-year to 31 March 2008 will be
released at the end of June. These will be the first results to which the new
IFRS standards will apply.

The Company has announced separately today the appointment of an additional
independent Non-Executive Director, Philip Goldenberg.

Karspace Management Limited, the Company's car-park operating business, has had
a satisfactory first half, retaining one of its major National Health Service
contracts which had been subject to review. The remainder of the year to 30
September 2008 will be challenging, but the management team continues to make
good progress and the outlook is positive.

The Athens portfolio (in which the Company has a 20% shareholding) which was
acquired by Athens at a cost of £38.25m in December 2006, was independently
valued by King Sturge, the original valuers, as at 31 December 2007 at £33.9m.
This has been updated by King Sturge with a desktop valuation as at 31 March
2008 of £32.66m. Given current property market conditions, the Board does not
expect that the Company will recover any of its investment in Athens.

It is also appropriate to update shareholders as regards the status of the
litigation relating to the former Executive Chairman, Neil Sinclair and the
former Managing Director, Emma Sinclair . Following the termination of their
service contracts on 5 February 2008, and despite being legally obliged to
return all Company property, provide Company computer passwords and leave the
Company's premises, the Sinclairs refused to do so. As a result, the Board was
forced that day to obtain a High Court injunction to ensure that the Company's
property and assets were returned to it, and that the Sinclairs left its
premises.

The Sinclairs then commenced their own proceedings against the Company and
sought various injunctions against it, including their restoration as executives
and employees of the Company and to obtain the Court's permission to bring a
derivative action (using the Company's money) against the non-executive
Directors of the Company. The Sinclairs lost these applications at the High
Court on 12 March 2008 when the Court made orders for costs in the Company's
favour against them. Despite the Company's solicitors' written requests for
payment, these costs have still not been paid by the Sinclairs.

In preparing its evidence in response to the Sinclairs' court applications, it
came to the Company's attention that Mr Sinclair and Ms Sinclair had improperly
applied the Company's funds in certain matters of their personal expenditure
(some of which have been admitted by the Sinclairs). The Company is now taking
action to recover these funds (approximately £35,000) from the Sinclairs while
continuing to investigate further personal expenditure by the Sinclairs .

As a result of this litigation, the Company has incurred exceptional legal and
other professional expenses, which to date exceed £ 200,000 which the Company
will seek to recover from the two former executive directors. Since 5 February
2008, the Board (in conjunction with the Company's auditors) established that
there were previously unrecognised liabilities of the Company of approximately £
225,000. Recognition of these legal and professional expenses and liabilities,
aggregating to approximately £ 425,000, is expected to result in a further
trading loss on a consolidated basis for the Group in the half year to 31 March
2008 and in an overall loss for the year to 30 September 2008.





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