Amendment of Director Call Option Agreement

Plutus PowerGen Plc / Ticker: PPG / Index: AIM

19 February 2016

Plutus PowerGen plc ('PPG' or 'the Company')

Amendment of terms of Director Call Option Agreements

Plutus PowerGen plc, the AIM listed power company focused on the development, construction and operation of flexible stand-by electricity generation in the UK was advised that Paternoster Resources Plc has today agreed to an amendment of the terms of its call option agreements with Paul Lazarevic and Philip Stephens.

The call option agreements referred to above were granted to Philip Stephens and Paul Lazarevic by Paternoster Resources plc ("Paternoster") on 5 August 2014. The call options were granted over a total of 10,000,000 existing ordinary shares of 0.1 pence each ("Ordinary Shares") for each of Mr Stephens and Mr Lazarevic and were exercisable up until 22 February 2016, exercisable at a price of 0.6 pence per Ordinary Share.

Following the amendments to the above call option agreements, Paternoster has agreed to extend the exercise period of the call options over 10,000,000 existing Ordinary Shares for each of Mr Stephens and Mr Lazarevic to 22 May 2016, exercisable at a price 0.75 pence per Ordinary Share.

**ENDS**

For further information, please visit www.plutuspowergen.com, or contact:

Notes to Editors

Plutus PowerGen plc is an AIM listed company focused on the development, construction and operation of flexible stand-by power generation sites in the UK. At present, the market dynamics for flexible power generation are positive as a result of the continued downward pressure on capacity available to National Grid to balance supply and demand, leading to their announcements about possible power shortages over the next few years.

Flexible Power generators such as PPG offer a viable and timely solution to the power capacity shortfall in the UK. To this end, PPG is initially focusing on delivering 200MW of capacity by the end of 2017 and currently has a project pipeline of potential development sites with 700MW of power generation capacity.

PPG has a straightforward multi-revenue stream model with large and stable counter-parties and is using project/EIS funding through SPVs to finance construction of the generation assets. This structure has the benefit of limiting dilution to plc shareholders as the assets are financed and built.