Statement re. Suspension

Lupus Capital PLC
03 February 2006

                             For immediate release


                                2 February 2006


                          Lupus Capital plc ('Lupus')


                        Temporary suspension of listing


Further to its announcement of 1 February 2006, Lupus has requested a suspension
of the trading of its ordinary shares as the potential acquisition, if
completed, would be classified as a reverse takeover under the Listing Rules.

The suspension will continue pending the publication of a listing document in
relation to the transaction or in the event that discussions are terminated an
announcement to that effect.


Alan Frame (Equity Development)

0207 405 7777

Nick Donald (HSBC)

0207 992 2151


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