Eatonfield Group plc

26 May 2010

Eatonfield Group plc

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

Issue of Equity and Equity Drawdown Facility

The board of Eatonfield announces that on 25 May 2010, the Company drew down £77,650 against its previously notified equity drawdown facility ("the Facility") with Jenard Properties Limited ("Jenard"), to be satisfied by the issue of 7,765,000 new ordinary shares of 1 penny each ("Ordinary Shares") at a price of 1 penny per Ordinary Share. The £77,650 drawn down under the Facility will be used for working capital funding.

Following this drawdown, £572,350 remains available under the Facility for draw down at any time until 31 August 2010. As previously notified, draw down of the remaining funds available is subject to Eatonfield's shareholders approving the resolutions to be proposed at a general meeting of the Company convened for 28 May 2010, further details of which are set out in a circular to shareholders dated 12 May 2010. The board anticipates that the remaining funds available, if drawn down in full, will provide Eatonfield with sufficient working capital through to mid July 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 7,765,000 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 2 June 2010.

On admission of the 7,765,000 new Ordinary Shares referred to above, the Company will have 299,999,775 Ordinary Shares in issue with voting rights and Jenard's notifiable interest will be in 67,765,000 Ordinary Shares, representing 22.59% of the Company's enlarged issued share capital.

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