Grant of Options

3 November 2010

Tricorn Group Plc 

("Tricorn" or the "Company")

Grant of Options

On 16 September 2010, following shareholders' approval being obtained at its Annual General Meeting held on 16 September 2010 (the "AGM") for the adoption of the Tricorn Long Term Incentive Plan 2010 ("LTIP") and the issue of shares under the Company's share option schemes, the Company granted the following options over ordinary shares of 10p each in the Company ("Ordinary Shares") pursuant to the terms of the LTIP and Unapproved Share Options Scheme respectively: -

Mike Welburn - 1,000,000 Ordinary Shares

Nicholas Paul - 300,000 Ordinary Shares

In addition, on 5 August 2010, conditional upon shareholders' approval being obtained at the AGM, the Company granted options over 921,000 Ordinary Shares to Philip Lee pursuant to the terms of the Company's Enterprise Management Incentives Plan 2001 as amended.

The vesting and exercise criteria of each of the above options are as set out in the Company's circular to shareholders dated 18 August 2010. The exercise price for each of the above options is 10 pence.

As previously announced, all resolutions were passed at the AGM, subsequent to which, the exercise price of all of Mike Welburn's existing options over Ordinary Shares, amounting in aggregate to 1,625,000 options, was amended to 10 pence.

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