Merger Update

11 February 2010

Trading Emissions plc

Merger update

On 17th December 2009 the Boards of Trading Emissions plc and Leaf Clean Energy Company announced a recommended merger of the two companies.

Included in this announcement were details of a letter of intent from Moore Capital Management L.P. ("Moore Capital") in which it stated that Moore Capital intended to support the merger and to vote, or to procure votes, in favour of resolutions to be considered at the forthcoming EGMs on 19th February in respect of its holdings in Trading Emissions and Leaf Clean.

The Boards of Trading Emissions and Leaf Clean have been informed that it is Moore Capital's current intention not to vote in favour of the Merger.

According to subsequent disclosures under Rule 8.3 of the Takeover Code, Moore Capital currently holds 41,276,623 ordinary shares in Trading Emissions (representing approximately 16.0 per cent of the voting rights of Trading Emissions) and 6,008,000 ordinary shares in Leaf Clean (representing approximately 3.3 per cent. of the voting rights of Leaf Clean).

--ENDS--

For further enquiries, please contact:

Trading Emissions PLC (via Haggie Financial PR)

Neil Eckert

Malcolm Gillies

Liberum Capital Limited (nominated adviser and Rule 3 adviser to Trading Emissions)

Steve Pearce

Tom Fyson

+44 (0) 20 3100 2000

Leaf Clean Energy

Bran Keogh (via Cenkos)

Cenkos Securities plc (nominated adviser to Leaf Clean)

Ivonne Cantu/Liz Bowman

+44 (0) 20 7397 8900

Haggie Financial PR (PR adviser to Trading Emissions)

Peter Rigby

Alexandra Parry

+44 (0) 20 7417 8989