Market Update

TUNGSTEN CORPORATION PLC

("Tungsten")

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN NOR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

For Immediate Release 10th June, 2014

MARKET UPDATE

Tungsten Corporation plc completes acquisition of FIBI Bank (UK) plc

London, 10 June - Tungsten Corporation plc (LSE:TUNG) is delighted to announce that it has completed the acquisition of FIBI Bank (UK) plc following approval from the Prudential Regulation Authority on 29 May.

FIBI Bank will now be known as Tungsten Bank plc, registered at 6 Pountney Hill House, Laurence Pountney Hill, London, EC4R 0BL, UK.

LONDON, 10 June 2014

About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.

Buyer organisations that join Tungsten Network, built on OB10 e-Invoicing, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing to suppliers and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.

Tungsten connects the world's largest companies and government agencies to their thousands of suppliers around the globe. It is compliant in 45 countries, and processes transactions worth over $180bn per year for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and US Federal Government.

Tungsten Corporation joined forces with OB10 in 2013 to create the world's largest electronic trading network.

Enquiries:

Tungsten Corporation plc

Edmund Truell, Chief Executive Officer +44 20 3435 5680

Sandra Higgison, Head of Global Communications +44 20 7406 5772

Equus Group (Communications)

Piers Hooper / Sam Barton +44 20 7223 1100