Update on financial position

Hardy Amies plc ('Hardy Amies' or the 'Company')

The Board of Hardy Amies (the 'Board') announces that, following the suspension of Hardy Amies shares on 26 September 2008 pending clarification of the Company's financial position, the Board has approached and has been approached by various parties in relation to the potential provision of funding to support Hardy Amies' working capital requirements. The Board has, as yet, been unable to finalise an offer that would secure the future of the Company. The Board has therefore today taken the decision to file a notice of intention to appoint an Administrator.

The Board continues to work to find a solution for the Company's financial issues and is in ongoing discussions with various parties, although it is not clear at this stage what the outcome of these discussions will be. 

A further announcement will be made in due course. 

Enquiries

Hardy Amies

Andrew Manders

Tel: 020 7734 2436

Shore Capital 

Guy Peters

Tel: 020 7408 4090