Eagle Eye Telematics plc

Issue of Equity

On 30 May 2008, Eagle Eye Telematics plc (the 'Company') announced that it had entered into conditional agreements with certain directors and shareholders relating to the satisfaction and full discharge of loans to the Company with an aggregate principal value of £2,504,190 in exchange for the issue by the Company of new ordinary shares of 0.1 pence each ('Ordinary Shares') at an issue price of 2 pence per share.

The conditions relating to these agreements have now been fulfilled and, accordingly, the Company has now issued 125,209,500 new Ordinary Shares. Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 25 June 2008. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue and increase the number of shares in issue to 326,576,611.

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