Directorate Change

TUNGSTEN CORPORATION PLC 

("Tungsten" or the "Company")

For Immediate Release

9 October 2018

Board Changes

Tungsten Corporation plc, a global business transaction network, announces changes to the directorate of the Company, resulting in the appointment of Tony Bromovsky as Chairman.

Following the completion of the induction of Tony Bromovsky and Duncan Goldie-Morrison as non-executive directors, Nick Parker and Peter Kiernan have informed the Board that they wish to retire as non-executive directors of the Company with effect from 31 October 2018.

Tony Bromovsky will succeed Nick Parker as Chairman with immediate effect.

In addition, David Benello will succeed Peter Kiernan as Senior Independent Director and Duncan Goldie-Morrison will become Chair of the Audit Committee with effect upon Peter's retirement from the Company on 31 October 2018.

Nick Parker commented:

"On behalf of the Board, I should like to thank Peter for his service to Tungsten over several years during which time he has demonstrated the highest standards of independence, objectivity and integrity. I should also like to offer Tony and Duncan my best wishes in their new roles and their efforts on behalf of all shareholders."

Tony Bromovsky said:

"I should like to echo Nick's comments about Peter, and also to thank Nick for his significant contributions to Tungsten. I should particularly like to thank Nick for the constructive welcome he has afforded Duncan and me since we joined the Board."

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About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) aims to be the world's most trusted business transaction network by using data intelligently to strengthen the global supply chain.

Tungsten Network is a secure business transaction network that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers access to trade finance through Tungsten Network Finance.

Tungsten Network processes invoices for 74 percent of the FTSE 100 and 71 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 48 countries, and last year processed transactions worth over £164bn for organisations such as Alliance Data, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Mondelēz International, Henkel, IBM, Kellogg's and the US Federal Government.