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Greenchip Investment (XEN)

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Friday 28 November, 2003

Greenchip Investment


Greenchip Investments  PLC
28 November 2003

Greenchip Investments plc ("Greenchip" or the "Company")


The Directors of Greenchip announce that the Company has now disposed of its
entire interest in Programmable Life Inc ("PLI"), its loss-making US subsidiary.
This loss-making business has been sold to Highlander Acquisitions LLC as a
going concern for a nominal consideration and the acquirer has assumed all
liabilities of PLI.  Furthermore, the contract of sale contains mutual "hold
harmless" provisions which ensure that Greenchip has no continuing obligations
of any kind to PLI.

The effect of this transaction is that Greenchip is now a non-trading shell with
a minimal net asset base and de minimis operating costs. The Directors are
continuing to seek a suitable business which  they hope will deliver some future
value to shareholders by means of a reverse takeover transaction.  Whilst there
can be no certainty of finding a suitable opportunity in a defined time frame,
shareholders will be informed as soon as such an opportunity has been

For further information please contact:

Colin Hill, Non Executive Chairman on 020 7389 5010
Graeme Thom, Grant Thornton, on  0207 383 5100

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