ISSUE OF CIRCULAR AND NOTICE OF GM

21st Oct 2008 14:12

For immediate release: 21 October 2008

CREON CORPORATION Plc ("Creon" or "the Company") ISSUE OF CIRCULAR AND NOTICE OF GM

Creon Corporation Plc (AIM: CRO) announces that following its statement of 16 October 2008, a Circular convening a General Meeting of the Company is being posted to shareholders today. The meeting is to be held at 10am on 6 November 2008 at offices of the Company at 11 Grosvenor Crescent, London SW1X 7EE.

At the General Meeting, the following Resolutions will be proposed:

1. an ordinary resolution to increase the share capital of the Company from ‚£

500,000 to ‚£1,000,000 by the creation of an additional 50,000,000 Ordinary

Shares;

2. an ordinary resolution to authorise the Directors to allot relevant

securities (as defined in section 80 of the Act), inter alia, up to the

authorised but unissued share capital; and

3. a special resolution to allow the Directors, subject to the limits set out

in that resolution, to issue New Ordinary Shares for cash on a non

pre-emptive basis, including specific authorities to allot new Ordinary

Shares under (1) the Conversion, (2) the exercise of the Warrants and (3)

the issue of 21,007,337 new Ordinary Shares generally.

A copy of the Circular can be viewed at the Creon's website: www.creoncorporation.com.

Ends

For further information please contact:

Creon Corporation Plc Jonathan Freeman +44 (0)20 7752 0215

Daniel Stewart & Company Plc Oliver Rigby +44 (0)207 776 6550

GTH Media Relations Toby Hall +44 (0)20 7153 8039

Christian Pickel +44 (0)20 7153 8036

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