Grant of options and employee share loan scheme

red24 plc ("red24" or "the Group")

Grant of options and employee share loan scheme

red24 plc is pleased to announce that it has granted options over 500,000 ordinary shares of 1p each to Mr Maldwyn Worsley-Tonks, chief executive, at an exercise price of 8p per share. The options have been granted in recognition of his success in developing the Group's special risk business in North America.

These options may not be exercised before 31st March 2013 and will lapse if not exercised before 31st March 2016.

As a result of this grant, the total number of shares over which Mr Worsley-Tonks holds options is 675,000.

red24 is also pleased to announce that, under its employee share loan scheme, seventeen employees have in aggregate, subscribed for 450,000 new ordinary shares of 1p each in the Company. Under the terms of the scheme, these have been issued at a price of 7.8p per share.

Application has been made to the London Stock Exchange for admission of the 450,000 new ordinary shares to be admitted to trading on AIM. Admission is expected to occur on 10 March 2010.

For the purposes of the Disclosure and Transparency Rules, red24's total issued share capital following the issue of these shares consists of 44,891,083 ordinary shares of 1 penny each.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, red24, under the Disclosure and Transparency Rules.

Simon Richards, Chairman, commented: "We are delighted with how the business is developing under Mal's stewardship and the options granted to him recognise his contribution to the Group's success. It is also very pleasing to see such a strong take up from employees under the share loan scheme which I believe demonstrates the confidence our staff have in the future success of the Group."

ends