Disposal

25 March 2015

Findel plc ("Findel" or the "Group")

COMPLETION OF THE SALE OF KLEENEZE

Further to the announcement made on 6 February 2015, the Board of Findel is pleased to announce the completion of the sale of its subsidiary Kleeneze Limited ("Kleeneze"), the leading network marketing company, to Trillium Pond AG, a subsidiary of CVSL Inc, the NYSE-listed Group of direct-to-consumer operations ("CVSL"). The total consideration was £3.4 million in cash which will be used to further reduce the Group's bank debt.

As previously announced, as part of an arms-length agreement, Express Gifts will also continue to provide Kleeneze with distribution and other support services on an exclusive basis for a minimum period of 18 months.

Kleeneze is one of the UK's leading home shopping businesses supplying a broad range of household and health & beauty products across the UK and Ireland. Following an approach from CVSL, the Board assessed the opportunities and prospects for Kleeneze and concluded that it was in the best interests of shareholders and members of the Kleeneze network to proceed with this transaction.  This sale of Kleeneze will streamline the Group and enable it to focus its resources on growing its core businesses. Further, the Board believes that Kleeneze will benefit from the extensive expertise and support that CVSL would bring.

For the half-year ended 26 September 2014 Kleeneze reported a loss before tax and exceptional items of £0.4 million (2013: profit of £0.6 million). For the full year ended 28 March 2014 Kleeneze reported a profit before tax and exceptional items of £1.3 million and a loss before tax after exceptional items of £2.4 million. The gross assets of Kleeneze at 26 September 2014 were £47.3m (which includes £19.0m of intragroup loan that was waived at completion, £7.7m of cash that was subsequently transferred to Findel during the year and £8.4m of intangible assets).

Enquiries

Findel plc  Roger Siddle, Chief Executive

Tim Kowalski, Finance DirectorT: +44 (0)161 303 3465

Tulchan Communications LLPStephen Malthouse / Will SmithT: +44 (0)20 7353 4200

Notes to Editors

The Findel Group contains market leading businesses in the UK home shopping and education supplies markets. It is primarily a retailer and distributor, handling and supplying specialist products manufactured by third parties.

The Group's activities are focused in three main operating segments, together with a small overseas sourcing operation:

· Express Gifts - one of the largest direct mail order businesses in the UK;

· Findel Education - the largest listed independent supplier of resources and equipment (excluding information technology and publishing) to schools in the UK; and

· Kitbag - a leading retailer of sports merchandise.

CVSL (NYSE MKT: CVSL) is a growing group of micro-enterprise companies that connect social media networks into an ever-expanding virtual "community" of social commerce. Within CVSL, each company retains its own separate brand identity, sales force and compensation plan. 

CVSL companies currently include The Longaberger Company, a 42-year old maker of hand-crafted baskets and other home décor items; Your Inspiration At Home, an award-winning maker of hand-crafted spices and other gourmet food items from around the world; Project Home, a direct seller of tools designed for women as well as home security systems; Agel Enterprises, a global seller of nutritional products in gel form as well as a skin care line, operating in 40 countries; Paperly, which offers a line of custom stationery and other personalized products; My Secret Kitchen, a U.K.-based seller of gourmet food products; and Uppercase Living, which offers an extensive line of customizable vinyl expressions for display on walls in the home. In addition, CVSL and Golden Girls, a purchaser of gold and tradable jewelry, have signed a definitive purchase agreement, which is subject to customary closing conditions.