Director/PDMR Shareholding

23 January 2009

                            Panther Securities PLC                             

                                (the "Company")                                

                           Directors' Shareholding

The Company was notified today that, on the same day, Simon Peters (Finance
Director), John Doyle (Executive Director), John Perloff (Executive Director)
and Peter Kellner (Non-executive Director) (together, the "Directors") have
each purchased ordinary shares in the issued share capital of the Company (the
"Ordinary Shares"). The respective purchases were each at the price of 205
pence per share.

The purchases were made in the following quantities;

                                        Number of Ordinary Percentage of issued
                                                    Shares        share capital
                                                                               
Simon Peters                                        45,000                 0.27
                                                                               
John Doyle                                          45,000                 0.27
                                                                               
John Perloff                                        15,000                 0.09
                                                                               
Peter Kellner                                        5,000                 0.03

Mr Doyle, Mr Perloff and Mr Peters were each loaned the necessary funds
(unsecured and on commercial terms) to facilitate the respective share
purchases by Portnard Limited, a company controlled by Andrew Perloff and his
family trusts.

Following the above purchases, the Directors will have the following aggregate
holdings, respectively;

                                        Number of Ordinary Percentage of issued
                                                    Shares        share capital
                                                                               
Simon Peters                                       117,000                 0.69
                                                                               
John Doyle                                          57,000                 0.34
                                                                               
John Perloff                                        85,000                 0.50
                                                                               
Peter Kellner                                       17,000                 0.10

For further information:

Andrew Perloff, Panther Securities plc:                    Tel: [phone]
                                                                             
Simon Peters, Panther Securities plc:                      Tel: [phone]