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Tuesday 26 September, 2006

AIM

Schedule 1-Raven Capital Inc

AIM
26 September 2006


          ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN 
                                       ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME: Raven Capital Inc

COMPANY ADDRESS:

Walker House

Mary Street

PO Box 908GT George Town

Grand Cayman, Cayman Islands



COMPANY POSTCODE: n/a

COUNTRY OF INCORPORATION: Cayman Islands

COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:

Raven's stated investment strategy at the time of its original AIM admission was to build, largely through
acquisition and joint venture transactions, a group specialising in the hedge fund sector.



Since then, the Directors have explored a number of potential opportunities of that type, although none were
sufficiently attractive to merit being put before Shareholders.



The Company has now agreed to acquire Upstream Asia Limited, a company which provides a range of corporate and
marketing communications services to multinational corporations and Asia-based clients throughout the
Asia-Pacific region, with a focus on Greater China. This will result in there being a fundamental change in the
business of the Company from that of an investment company specialising in the hedge fund sector to a company
providing international corporate and marketing communications services.



DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury shares):

133,541,670 ordinary shares of 0.25p each

CAPITAL TO BE RAISED ON ADMISSION:

£500,000 before expenses

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:

Directors

Graham Butt (Executive Director and current Chairman)

Joanna Barrett (Executive Director)



Proposed Directors

David Ketchum (Proposed Chief Executive Officer)

Jane McGuire Ketchum (Proposed Non-Executive Director)

Shahed Mahmood (Proposed Non-Executive Chairman)



PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:
Name                                         Existing    % of current Ordinary Shares      % of share
                                             Ordinary    issued share    on Admission      capital on
                                               Shares         capital                       Admission
David Ketchum                                       0               0      20,425,935           15.30
techpacific.com (BVI) Investments                   0               0      20,276,384           15.18
Limited
Jane McGuire Ketchum                                0               0      20,079,794           15.04
Jonathan Aiman Hakim                                0               0       7,135,126            5.34
Peter Kingsbury                                     0               0       4,079,049            3.05
Paul Adams                                          0               0       4,079,049            3.05
EP Singapore Pte Limited                   13,300,000           29.98      13,300,000            9.96
W B Nominees Limited*                      12,370,556           27.88      12,370,556            9.26
Pershing Keen Nominees Limited              4,956,611           11.17       4,956,611            3.71



*W B Nominees Limited holds 11,108,332 Ordinary Shares on behalf of Corvus Capital Inc.



NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:


Silk Route Investments Limited                                               6,750,000 Ordinary Shares

Codan Trust Company (Cayman) Limited

P.O. Box 2681 GT

Century Yard, Cricket Square

Hutchins Drive, George Town

Grand Cayman  Cayman Islands





The Ordinary Shares above will be issued in consideration of Silk Route having introduced the Company to
Upstream.



Penkenna Limited of Palm Grove House, PO Box 438 Road Town Tortola British Virgin Islands, will receive a fee of
5 per cent of the gross placing proceeds i.e. £25k in consideration of it introducing placees to Raven.



ANTICIPATED ACCOUNTING REFERENCE DATE:

30 September

EXPECTED ADMISSION DATE:

16 October 2006

NAME AND ADDRESS OF NOMINATED ADVISER:

Strand Partners Limited

26 Mount Row

London, W1K 3SQ



NAME AND ADDRESS OF BROKER:

Walker Crips Stockbrokers Limited

Sophia House

76/80 City Road

London EC1Y 2EQ

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Fladgate Fielder

25 North Row

London W1K 6D



The Admission Document is also available to be inspected at www.corvus.com

DATE OF NOTIFICATION:

26 September 2006

NEW/ UPDATE (see note):

New





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