OAS Reverse Takeover

IP Group PLC
31 December 2007



Immediate Release                                                 31st December 2007

                                  IP GROUP PLC

  IP GROUP PLC - OXFORD ADVANCED SURFACES GROUP PLC FIRST DAY DEALINGS ON AIM
                             AFTER REVERSE TAKEOVER

IP Group plc (LSE: IPO) ('IP Group'), the intellectual property
commercialisation company, is pleased to note that Oxford Advanced Surfaces
Group plc ('OAS' or 'the Company'), a specialist coatings and materials company
held within the IP Group portfolio and a spin-out company from the University of
Oxford, has today joined AIM via a reverse takeover of Kanyon plc (AIM: KNYN)
('Kanyon') (the 'Reversal'). First day dealings on AIM of Ordinary Shares
('Ordinary Shares') in OAS commence today. Concurrent with the Reversal, OAS has
completed a placing raising proceeds (before expenses) of £3 million.

OAS (AIM: OXA) is engaged in the development and commercialisation of technology
which enables the modification of the surface properties of a broad range of
materials. Initial applications for the technology include colouration,
adhesion, bio-activity and tailored wetting properties.

IP Group is the registered owner of 27,995,045 Ordinary Shares in OAS (worth £7
million at the placing price of 25 pence per share), representing 15.7% of OAS'
enlarged issued share capital. The Reversal will result in a total fair value
gain to IP Group of £6.4 million.

OAS is the twelfth of IP Group's portfolio companies to have floated on either
AIM or PLUS Markets and is the fourth IP Group portfolio company to have
achieved a flotation this year. Green Chemicals plc floated on PLUS Markets in
January while Modern Water Plc and Tracsis plc floated on AIM in June and
November respectively.

For further information, please contact:

IP Group plc 0845 074 2929
Alan Aubrey, Chief Executive Officer
Liz Vaughan-Adams (Communications) 020 7444 0062/07979853802

Buchanan
Tim Anderson, Mary-Jane Johnson, Mark Court 020 7466 5000

Notes for Editors

About IP Group

IP Group Plc is an intellectual property (IP) commercialisation company that
specialises in commercialising university technology. Founded in 2001, IP Group
listed on AIM in October 2003 and moved to the Official List in June 2006. It
has made two acquisitions to date - Techtran, a company set up to commercialise
university intellectual property under a long term contract with the University
of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early
stage technology venture capital funds, in 2004.

IP Group has formed long-term partnerships with ten universities - the
University of Oxford, King's College London, CNAP/University of York, the
University of Leeds, the University of Bristol, the University of Surrey, the
University of Southampton, Queen Mary (University of London), the University of
Bath and the University of Glasgow.

As at 30 June 2007, 60 spin-out companies had been created among IP Group's
university partners. Of those, ten have listed on the AIM market of the London
Stock Exchange, one on PLUS Markets and there have been two trade sales. IP
Group also has three 'Modern-themed' subsidiaries - Modern Biosciences, Modern
Water and Modern Waste. Modern Water was the first of these subsidiaries to
float on AIM in June 2007.

For more information, please visit our website at www.ipgroupplc.com.

ENDS



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