Further re Placing

VERDES MANAGEMENT PLC (AIM: VMP)

Subscriptions to raise £550,000

Further Update

Further to the announcements of 29 October 2012 and 3 January 2013, Verdes Management Plc ("Verdes" or the "Company") is pleased to confirm it is in advanced discussions regarding further investment into the Company.

If terms are agreed, the investment will provide further working capital and is likely to be accompanied by a revision of the business model with the turnaround advisory business established by Adam Webb in September 2010 being hived down into a subsidiary company.

The Company also confirms that running costs have been cut to the minimum that is required to secure the services of the two directors and a part time financial controller. Adam Webb stepped up to become Chairman on the resignation of his predecessor last October. This is an interim and non-executive position pending finalisation of the new business plan.

A further announcement will be made as soon as is practicable.