28 June 2010

Radicle Projects plc

("Radicle Projects" or the "Company")

Director Change, Trading Update and Proposed Corporate Transaction

Radicle Projects, the AIM quoted UK company which owns and operates Australian agribusiness assets, announced on 9 June and 25 June 2010 that the Board was continuing with the restructuring of the Company to reduce its cash outgoings.

The Company has approached the holders of the £15.1 million Series A Convertible Loan Note (the "Loan Notes") (XS0305254939) (the "Note Holders") with proposals to convert their Loan Notes into ordinary equity at or near the current Radicle share price. The Company is also considering the acquisition of certain other Australian operating agribusinesses and assets similar to those owned by Radicle to be satisfied by the issue of new ordinary shares in the Company at or near the current Radicle share price, in conjunction with a change to the Radicle Projects Board.

Tim Bennett has announced his intention to resign as CEO and Director of Radicle Projects, upon an irrevocable commitments from Note Holders representing at least 75% of the Loan Notes to support the proposals put forward.

The Board anticipates that if conversion of the Series A Convertible Loan Notes into ordinary shares in the Company take place, it will create a stronger platform for the future growth with a greatly expanded institutional shareholder base.

The Board anticipates that details of these proposals, which will be conditional upon shareholder approval at a General Meeting, will be announced shortly.

There can therefore be no certainty as to whether the proposals will be progressed nor as to the terms on which any such proposals will be made.

Further announcements will be made as and when appropriate.

Enquires: