Placing raises EUR9.8million

Accsys Technologies PLC 02 November 2006 London, 2nd November 2006 AIM: AXS Placing of New Ordinary Shares, Raising €9.8M Accsys Technologies PLC ('Accsys' or 'the Company') announces today that it has raised €9,802,295 (before expenses) by way of a placing of 6,623,172 new ordinary shares of €0.01 each ('Placing Shares') at €1.48 per Placing Share (the 'Placing'). The net proceeds of the Placing, which was arranged by Collins Stewart Europe Limited, will provide the Company with additional funds to accelerate the development and expansion of its business. Willy Paterson-Brown, Chairman of Accsys, commented, 'We have seen significant development in our business during 2006. The focus of the Company's work has been on our solid wood product, AccoyaTM, which has received a fantastic reception from our target customers. Tests have met or exceeded all expectations, confirming that AccoyaTM wood offers performance attributes that are equivalent to or better than the best tropical hardwoods and even superior to the many artificial material alternatives used today. The combination of durability, stability and reliability with sound environmental credentials - AccoyaTM is completely non-toxic and made exclusively from sustainably forested wood - is proving very attractive. 'Alongside AccoyaTM wood we have also been progressing other new and promising technologies. The majority of funds raised by this new placing will be used to accelerate the launch of our engineered wood products business (based on wood fibre, e.g. MDF). We believe this has as much potential as our solid wood business. 'We are extremely confident about the future and are very close to start-up of the world's first full-scale commercial acetylation production plant for Accoya TM wood. This plant will provide much needed supplies of high performance wood both for our customers across Continental Europe and for our overseas licensees. It will also serve as a demonstration of the process for those companies wishing to add value to their existing products and create new market outlets. 'The Board are very pleased at the high level of interest we had from investors to the Placing, which was oversubscribed. Accsys continues to attract an enviable list of blue-chip investors who clearly support the Company's long-term objectives'. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AiM. It is expected that such Admission will occur at 08:00am on 8th November 2006. For further information, please contact: Accsys Technologies PLC William Paterson-Brown, +44 20 7598 4040 Executive Chairman Collins Stewart Limited Tim Mickley / Michael O'Brien +44 20 7523 8000 Parkgreen Communications Justine Howarth +44 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange
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