Re Gordian Investments

Blue Star Capital plc
01 March 2005


For immediate release                                               1 March 2005

                              BLUE STAR CAPITAL PLC
                         ('Blue Star' or 'the Company')

                 Proposed Investment in Gordian Investments plc


Blue Star Capital plc (AIM: BLU), the company created to provide seed capital
for early stage companies, is pleased to announce it is planning to invest in
Gordian Investments plc ('Gordian'), a company that today revealed plans to
float on AIM.

Gordian is a newly formed company that intends to acquire one or more related
businesses in the technology, media and telecoms sector in the UK or mainland
Europe.

Gordian marks Blue Star's fourth investment and flotation candidate. Its first
investment, India Outsourcing Services plc, floated on AIM in December 2004 and
its second, Black Raven Properties plc, floated on AIM in early February 2005.
Last month Gasol plc, Blue Star's third investment, announced its intention to
float.

Blue Star intends to invest £275,000 in Gordian in return for approximately 24.4
per cent of Gordian's shares.

Nigel Robertson, Blue Star Capital's Chairman, commented: 'Gordian marks Blue
Star's fourth investment and represents the further diversification of our
portfolio into the technology, media and telecoms sector. I am confident that
the management team at Gordian is well placed to identify and complete
acquisitions in the sector. At Blue Star, we continue to evaluate investment
opportunities and look forward to further developing our portfolio.'


ENDS


For further information:

 Blue Star Capital plc                                     Tel: [phone]
 Nigel Robertson, Chairman
 Haresh Kanabar, Chief Executive

 Durlacher Limited                                         Tel: [phone]
 Jonathan Retter
 Katherine Roe

 Buchanan Communications                                   Tel: [phone]
 Mark Court
 Elly Williamson



The full text of Gordian's press announcement follows:

                             GORDIAN INVESTMENTS PLC
                          ('Gordian' or 'the Company')

       Intention to Float on the AIM market of the London Stock Exchange


Gordian plc, a company established to capitalise on acquisition and investment
opportunities in the technology, media and telecoms sector, is pleased to
announce its intention to seek admission to AIM by way of an Introduction.


Highlights

  • Gordian intends to acquire one or more related trading businesses in the
    technology, media and telecoms sector in the UK or mainland Europe.

  • Gordian has an experienced management team with a track record of
    successfully completing acquisitions. David Barton, Non-Executive Chairman,
    is a chartered accountant with commercial experience in many sectors, while
    Alan Pereira, Finance Director, worked as finance director of the Internet
    Technology Group plc, Keystone plc, e-capital investments plc and ukbetting
    plc. Haresh Kanabar, Non-Executive Director, is Chief Executive of Blue Star
    Capital.

  • On admission, the Company will have no trading businesses, but the
    Directors are aware of a number of appropriate prospects available to the
    Company.

  • The Company intends to make its first acquisition within 12 months of
    admission to AIM.

  • Gordian is joining AIM by way of an Introduction. The Company will have
    30.7 million Ordinary Shares in issue immediately following admission,
    giving the Company a market capitalisation of £1.535 million at the
    admission price of 5p.

  • It is expected that trading in Gordian's shares will commence on AIM in
    early March.

  • Teather & Greenwood is the Company's nominated adviser and broker.


On the plans for the flotation, David Barton, Gordian's Chairman, said: 'I am
delighted that Gordian intends to join AIM as it gives us the opportunity to
capitalise on our transaction and sector experience with the intention of
delivering an exciting first acquisition. We believe there is significant
potential in the technology, media and telecoms sector, which we look forward to
exploiting.'

                                      ENDS


For further information:

 Gordian Investments plc
 David Barton, Chairman                                    Tel: [phone]
 Alan Pereira, Finance Director                            Tel: [phone]

 Teather & Greenwood                                       Tel: [phone]
 Stephen Austin
 Harry Nicholas

 Ghaliston Ltd                                             Tel: [phone]
 Tony Fabrizi
 
 Buchanan Communications                                   Tel: [phone]
 Mark Court
 Elly Williamson




                      This information is provided by RNS
            The company news service from the London Stock Exchange