Issue of Equity

EW GROUP LIMITED

("EW Group" or "the Company")

Issue of Equity

The Company announces that as at 23 April 2013, it has received notices to convert £575,000 ("Conversion Notices") of the loan note constituted on 17 October 2012 ("Convertible Loan Notes").

Between 17 October 2012 and 4 February 2013, a total of £1.0 million Convertible Loan Notes were issued. The first opportunity for holders of the Convertible Loan Notes to choose to convert commenced on 17 April 2012, at a conversion price of 0.7p, with the Conversion Notices being received on 22 April 2013. Holders of the remaining £425,000 of Convertible Loan Notes have until 17 May 2013 to choose to convert or wait until the next conversion period in six months time, at a higher conversion price.

Conversion of the Convertible Loan Notes the subject of the Conversion Notices will result in the issue of 82,142,857 new Ordinary Shares ("Conversion Shares") and a reduction of £57,500 in the Company's annual interest charge. Under the terms of the Convertible Loan Notes, the Company has 12 days from the end of a notice period in which to issue any shares arising from the receipt of a conversion notice, it is therefore expected that the Conversion Shares will be issued and admitted to trading on AIM by 5 June 2013.

Assuming no other notices to convert the Convertible Loan Notes are received the Company's Enlarged Share Capital following the issue of the Conversion Shares will be 504,620,326 Ordinary Shares. The Conversion Shares will rank pari passu with existing Ordinary Shares and will constitute approximately 16.3% of the Enlarged Share Capital.

Directors' Dealing

Hearth Investments Limited ("Hearth"), a trust of which Tim Revill, a non-executive director of the Company, is a potential beneficiary, has issued a Conversion Notice in respect of £300,000 Convertible Loan Notes which will be converted at the Conversion Price into 42,857,143 Ordinary Shares, increasing Hearth's shareholding in the Company to 76,390,476 Ordinary Shares, representing 15.14 per cent of the Company's Enlarged Share Capital.

Courvoisier & Associés S.A ("Courvoisier"), a company of which Kishore Gopaul, a non-executive director of the Company, is a director, has issued a Conversion Notice in respect of £70,000 Convertible Loan Notes which will be converted at the Conversion Price into 10,000,000 Ordinary Shares, increasing Courvoisier's shareholding in the Company to 105,288,951 Ordinary Shares, representing 20.86 per cent of the Company's Enlarged Share Capital.

Further information please contact:

EW Group Limited

Paul Everitt: +44 (0)14 8173 2888

Daniel Stewart & Company Plc - Nominated Adviser and Broker

Antony Legge and James Thomas: +44 (0)20 7776 6550