Eatonfield Group plc

5 May 2010

Eatonfield Group plc

("Eatonfield", "the Group" or "the Company")

Issue of Equity and Equity Drawdown Facility

The board of Eatonfield announces that the Company has drawn down a further £100,000 against its previously notified equity drawdown facility ("the Facility") with Jenard Properties Limited ("Jenard"), to be satisfied by the issue of 10,000,000 new ordinary shares of 1 penny each ("Ordinary Shares") at a price of 1 penny per Ordinary Share. The £100,000 drawn down under the Facility will be used for working capital funding.

Following this drawdown, £800,000 remains available under the Facility for draw down at any time until 31 August 2010. However, as a result of the imposition of more onerous lending terms by one of the Company's banking partners, the board now expects that the Facility, if drawn down in total, will provide Eatonfield with sufficient working capital through to mid July 2010 rather than the previously notified 31 August 2010. The board continues to seek further equity funding and has confidence that additional equity funding will be made available to the Group and will provide an update at the appropriate time.

Application will be made for the admission of the 10,000,000 new Ordinary Shares referred to above to trading on AIM. It is expected that admission will become effective and that dealings will commence in the new Ordinary Shares on 11 May 2010.

On admission to trading of the 10,000,000 new Ordinary Shares referred to above, the Company will have 277,234,775 Ordinary Shares in issue with voting rights and Jenard's notifiable interest will be in 45,000,000 Ordinary Shares, representing 16.23% of the Company's enlarged issued share capital.

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