AIM Admission - Update

Cubus Lux plc
31 August 2004

                                 Cubus Lux Plc

                                Admission to AIM



Cubus Lux Plc, the Croatian gaming group, announces the commencement today of
trading in its ordinary shares on the Alternative Investment Market of the
London Stock Exchange.  The company recently raised £1.38m through an Offer for
Subscription of 6,152,000 ordinary 1p shares.



•  SUBSCRIPTION DETAILS:

   Subscription price                                               22.5p

   Number of ordinary shares in issue following subscription   22,102,001

   Gross proceeds of the subscription                          £1,384,200

   Net proceeds available to the Company                       £1,003,236



• The company, which runs the Las Vegas Casino in the Histria Hotel in
the Croatian tourist resort of Pula, will use the money to open new seasonal
casinos and to repay a bridge loan.  It is already in negotiation to open
casinos in three hotels in the Istrian Peninsula by 2005.  Two more are planned
by 2006, and the company is actively seeking acquisition opportunities.



• Cubus Lux has a strong management team headed-up by Chief Executive
Yaron Yenni, a former Price Waterhouse auditor, with fifteen years experience in
the tourist and leisure related industries.  The non-executive Chairman David
Gray is an ex-director of Crockfords with forty years gaming experience in
London, and the principal shareholder, Moshe Har Adir, has spent 25 years
running a series of gaming operations.



• The company's first operation, the Las Vegas Casino, is a year round
operation in the four-star Histria Hotel, sited in the Istrian Peninsula - known
as the Croatian Tuscany and benefits from its close proximity to Italy.  It was
acquired by the present management team in 2003, since then it has been
completely refurbished, and now offers a range of gambling games including Black
Jack, Roulette, Stud poker and slot machines.



• Numerica is the nominated adviser to the company and Rowan
Dartington is acting as broker.



Yaron Yenni, Chief Executive, commented: 'We are delighted with the support that
we have received from investors.  The proceeds will help us achieve our strategy
of opening more gaming facilities and actively look for acquisitions.  The
Croatian gaming industry is really fragmented and comprises a number of small
operators.  This provides us with opportunities to grow organically as well as
by acquisitions.'



For further information, contact:


Cubus Lux Plc                                                  [phone]
Haggai Ravid/Yaron Yenni                                                                

Numerica Capital Markets Limited                               020 7467 4000
Jeff Ward


Rowan Dartington                                               0117 933 0011
Barrie Newton


Threadneedle Communications                                    07793 839 024
Graham Herring/Alex White                                      020 7531 2620




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