Issue of Equity

Noventa Limited

("Noventa" or the "Company")

Issue of Equity

1 October 2010

The Company has today issued 489,961 Ordinary Shares at a price of 7.28 pence per share to certain members of the current Board of Directors and to a consultant to the Company who have elected to receive a proportion of their remuneration from Noventa in the form of new Ordinary Shares (the "Remuneration Shares"). These payments are calculated quarterly and the Remuneration Shares are issued at a price equivalent to the average of the closing mid-market price for the 30 days prior to the end of the quarter. Of the Remuneration Shares, the following were issued to Directors of the Company for the quarter ending 30 September 2010:

The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the Remuneration Shares and the new Ordinary Shares.

* These shares are held by Barons Financial Services Limited, a company in which Mr. Kohn has a beneficial interest.

** These shares are held by Ekasure Limited, a company in which Mr. Allan has a beneficial interest

*** 5,500,000 of these shares are held by a family trust of which Mr. Chung is a potential beneficiary

The following table sets out details of Significant Shareholders (as defined in the AIM Rules) of the Company following the issue of the new Ordinary Shares and the Remuneration Shares.

# Highland African Ventures Limited is owned by a trust whose trustee is Fleming Family & Partners Liechtenstein and Mr. R J Fleming is one of the potential beneficiaries. Fleming Family & Partners Liechtenstein has a total interest, including through Highland African Ventures Limited, in a total of 89,203,154 shares (27.88% of the issued shares). Mr. R J Fleming has an interest, including through Highland African Ventures Limited, in a total of 85,208,892 shares (26.63% of the issued shares).

An application has been made to admit the Remuneration Shares to trading on AIM, with trading expected to commence on 8 October 2010

Due to a clerical error, the total number of Ordinary Shares in issue had, since 15 July 2010, been understated by 296,390 Ordinary Shares. As such, and following the issue of the Remuneration Shares, the Company will have 319,982,848 Ordinary Shares in issue and following the issue of all of the 29,859,511 Additional Subscription Shares (as defined in the Company's 'Issue of Equity' announcement of 3 September 2010) the Company will have 349,842,359 Ordinary Shares in issue. The Company does not hold any shares in treasury.

Further to the Company's 'Issue of Equity' announcement on 3 September 2010, the subscriber for the Additional Subscription shares has renegotiated with Noventa the terms of the first tranche of the Additional Subscription. The payment for the first tranche subscribing for 9,953,170 new ordinary shares of 0.04 pence each ("Ordinary Shares") will now be made on 15 October 2010. The subscriber has agreed to pay interest at a rate of 10% per annum for this 15 day period.

An application will be made to admit the first tranche of the Additional Subscription Shares to trading on AIM with effect from 15 October 2010. Applications will be made to admit the remaining Additional Subscription Shares to trading on AIM within two working days of each of the two remaining tranches being subscribed. The Company will make further announcements in this regard at the time each of the subscription tranches are made.

For further information please contact:

Eric F. Kohn TD

Chairman

Noventa Limited

+41 22 8500560

+41 79 5030150

www.noventa.net

Nick Harriss/Emily Staples

Religare Capital Markets (Nomad)

+44 20 7444 0800

Daniel Briggs Religare Capital Markets (Broker) +44 20 7444 0500