Mobestar Holdings Plc (the "Company" or "Mobestar")

Appointment of Administrators and Resignation of Advisers

Appointment of Administrators

Further to the announcement made by the Company on 7 October 2008, the Board
announces that Joint Administrators have been appointed to the Company.

The contact details for the Joint Administrators are set out below:-

Chris Latos and Stephen Holgate

PKF (UK) LLP
Pannell House
Park Street
Guildford
Surrey GU1 4HN

Telephone: 01483 56 45 46

Resignation of Advisers

Dowgate Capital Advisers Limited, the Company's nominated adviser, and Midas
Investment Management Limited, the Company's broker, announce their resignations
with immediate effect.

Pursuant to AIM Rule 1, if an AIM company ceases to have a nominated adviser,
the London Stock Exchange will suspend trading in its AIM securities. If within
one month of that suspension the AIM company has failed to appoint a
replacement nominated adviser, the admission of its AIM securities will be
cancelled.