Revenue Assurance Services

Spice PLC
15 October 2007


                                                                                

15 October 2007

 

                                   Spice plc                                    

                                                                                

                  Update on Revenue Assurance Services ("RAS")                  

                                                                                
On Friday 12 October 2007, Spice plc ("Spice") the provider of outsourced 
infrastructure support services to the Commercial, Public and Utility Sectors, 
received final clearances on the acquisition of RAS. We would like to thank the 
former plc management of RAS for their co-operation throughout the months that 
these clearances have taken. During this period we have been able to work with 
the divisional management team which has allowed us to "hit the floor running" 
with RAS. We are pleased to welcome Clive Musgrave and his entire operational 
management team to Spice.
 
The contracts for Scottish Power and British Energy, announced by RAS prior to 
Spice's offer, are now both being successfully delivered. During the offer 
period, RAS' Eon contract has been expanded and successfully renewed in the 
form of a two year rolling contract.
 
We are pleased to announce a pilot electricity contract with Npower for 
Consultancy and imbalance services. This represents RAS' second electricity 
contract and we hope to move onto a longer term footing in due course. Within 
Collections, there has also been a new contract win with Bizz Energy.
 
Progress is already being made to cross sell RAS' services into Spice's existing 
clients in the electricity sector. We are hopeful that this work will shortly 
bear further fruit. We expect to provide an update on RAS at the time of the 
announcement of our interim results in December 2007. 
 
A presentation for analysts on the RAS acquisition is being held today on 
15 October at 12pm. This will be followed by a presentation for shareholders on 
16 October at 12pm. Both presentations are taking place at the offices of KBC Peel 
Hunt.
 
A presentation for shareholders in Scotland will be held on 17 October at 12pm 
at the Prestonfield Hotel, Edinburgh.
 
                                      Ends
 
Enquiries:
 

Spice plc                                           Tel: [phone] 
            
Simon Rigby          Chief Executive Officer                                       
Oliver Lightowlers   Group Finance Director                                        
Carl Chambers        Corporate Development Director                                
 

Financial Dynamics                                  Tel: [phone]     
        
Billy Clegg                                                                        
Caroline Stewart                                                                   
 

KBC Peel Hunt                                       Tel: [phone] 
            
Julian Blunt                                                                       
 

NOTES TO EDITORS

 

Spice plc

 

Spice is a support services business operating in the Commercial Services,
Public Services and Utility Services sectors. The Group's operations were
founded in 1996 and have their origins in the electricity industry, though the
range of activities has since been expanded into the water sector, niche
telecommunications services, the public sector, energy management and commercial
facilities management. Spice's businesses have a common theme of delivering and
co-ordinating infrastructure services to customers, and the technological
element within the product mix has been built up significantly over the course
of the last three years.



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