Issue of equity & holding in company

Jelf Group plc

(the "Company")

Issue of Equity and Holding in Company Announcement

The Board announced in the circular sent to shareholders on 24 February 2010, that Jon Manson had agreed that all deferred consideration due and payable and all deferred consideration (based on performance) which had not then been agreed or determined as being due to him pursuant to the Manson Share Acquisition Agreement would be satisfied (up to a maximum of £2.8 million) by the issue of new ordinary shares, at price of 36 pence per share, with the remainder of any consideration being payable in cash.

The Board today confirms that it has issued and allotted 371,112 new ordinary shares to Jon Manson pursuant to such agreement. Application has been made to the London Stock Exchange for these ordinary shares to be admitted to trading on AIM. It is expected that admission will occur on 28 September 2011.

Following this transaction Jon Manson has voting interests in 8,620,712 Ordinary Shares of the Company representing 10.1% of the Company's issued ordinary share capital (following the ordinary shares being admitted to trading).

Following the admission of the ordinary shares on 28 September 2011 the Company's total issued ordinary share capital will be 85,333,525 ordinary shares of 1p each. This figure (85,333,525 ordinary shares) 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, the Company under the Disclosure and Transparency Rules.