Issue of Equity & Options to Management & Others

Noventa Limited

("Noventa" or the "Company")

Issue of Shares to Directors & Others

19 August 2011

The Company has today approved the issue of 50,277 ordinary 0.8p shares ("Ordinary Shares") at a price of 51.87 pence per share to certain members of the board of directors of Noventa (the "Directors") and to other persons supplying consultancy services 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. The following were issued to Directors of the Company for the quarter ending 30 June 2011:

The Company has today also approved the issue of 166,044 Ordinary Shares at 27.375 pence per share (today's closing mid-market price on AIM) to three members of staff as a bonus, including 55,348 Ordinary Shares to Fernando Fernandez-Torres, a director of the Company (the "Bonus Shares"). The Company has also issued 15,949 Ordinary Shares to a supplier in settlement of an invoice.

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 Bonus Shares (and inclusive of the shares to be issued under the placing announced on 19 August 2011).

* 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

An application will be made to admit the Remuneration Shares and the Bonus Shares to trading on AIM, with trading expected to commence on 26 August 2011. The Remuneration Shares and Bonus Shares will also commence trading on the PLUS Quoted Market on 26 August 2011. Application will also be made to list the Placing Shares on the Toronto Stock Exchange.

The Company has today approved the issue to Mr Fernando Fernandez-Torres of options to subscribe for 200,000 Ordinary Shares at a price of 27.375 pence per share, today's closing price on AIM, at any point in the next seven years. The Company has also today approved the issue of share options to Messrs Martin, Berglund, Benning and Eggers. They will each receive options to subscribe for 24,280 Ordinary Shares at a price of 27.375 pence per share, today's closing price on AIM, at any point in the next seven years.

The Company will be issuing US$20,000 of new Ordinary Shares to Mr Zeca de Barros on his appointment as the Company's CFO. This will be calculated by reference to the closing share price on AIM on 5 September 2011 when he assumes his new role. Mr de Barros will also receive options to subscribe for 100,000 Ordinary Shares at the closing share price on AIM on 5 September 2011, exercisable at any point in the next seven years.

Following admission to trading of the Remuneration Shares and the Bonus Shares, the Company will have 100,385,434 Ordinary Shares in issue. The Company also has 2,822,290 convertible redeemable £1 preference shares ("CPS") in issue. The Company does not hold any Ordinary Shares or CPS in treasury.

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/Phil Davies

Religare Capital Markets (Nomad and PLUS Corporate Adviser)

+44 20 7444 0800

Daniel BriggsReligare Capital Markets (Broker)+44 20 7444 0500

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information contained or incorporated by reference in this release, including any information as to the Noventa's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, constitutes "forward-looking statements" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements can often, but not always, be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words; or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.

Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Noventa as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are also cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Noventa to differ materially from those expressed or implied in the forward-looking statements. Certain of these risks and uncertainties are described in more detail in Noventa's Annual Information Form dated March 15, 2010, which is available on SEDAR at www.sedar.com.

Although Noventa has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this document based on the opinions and estimates of management on the date statements containing such forward looking information are made, and Noventa disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information.