Half Year Trading update

5 October 2012

Avarae Global Coins plc

("Avarae" or the "Company")

Half year trading update

The Directors of Avarae plc (AIM: AVR.L), the UK's only publicly traded company dedicated to purchasing, holding and selling rare and high quality coins, are pleased to announce a trading update for the six months ended 30 September 2012.

The Company expects to report revenues for the six months ended 30 September 2012 of not less than £0.45 million (2011: £1.58 million) and a gross profit margin on coins sold of not less than 15% (2011: 44%). Administrative expenses for the period are expected to be broadly in line with prior years.

Diane Clarke, a director of Avarae, commented:

"As we've previously stated, our investing and divesting activities are largely dependent on our consignments in the major auctions throughout the world. Whilst the Company did not benefit this year from the strong performance of our coins in the Hong Kong auction of August last year, a 15% gross profit margin still represents a significant uplift from the carrying value of coins as of 31 March 2012.

The highest quality coins continue to attract strong prices around the world, as evidenced by the recent £780,000 (including buyer's premium) paid for one of Australia's rarest coins, a George V 1920 Sydney mint gold sovereign, which was sold for more than three times the price paid the last time such a coin was available for sale in 2006.

The Company continues to purchase only the highest quality coins to add to its significant portfolio, such as a Charles II Two Guinea acquired during the period. The Directors look forward to updating shareholders with the half-year results in due course." 

-Ends-

For further information on Avarae Global Coins plc, please contact:

Avarae Global Coins plc

Diane Clarke/Matt Wood +44 (0)16 2461 5614

Westhouse Securities Limited

Tom Griffiths/Paul Gillam +44 (0)20 7601 6100

GTH Media Relations

Toby Hall/Suzanne Johnson Walsh +44 (0) 20 3103 3903

Notes to editors:

Avarae Global Coins plc ("Avarae") provides access for institutions and individuals wanting to diversify their investment portfolios away from the traditional asset classes such as equities, property and bonds without the need to be an expert in the coin-collecting sector.

The Company's investment policy is to invest in rare, high quality antique coins and coin collections from across the world. It continues to build up an impressive portfolio of extremely high quality, rare coins which it intends to hold both for the long-term (i.e. 3 to 5 years), in order to achieve long-term capital growth for our shareholders, and also the short-term, in order to take advantage of short-term trading opportunities, as the market for rare coins continues to grow.

A principal objective of the Company is to achieve long-term capital growth through the appreciation in the value of the coins acquired. Since 31 March 2007, being the date of the Company's first audited accounts, the Company's audited NAV has increased by 50% per cent.