Placing

8th Feb 2007 07:15

Gas Turbine Efficiency PLC08 February 2007 8 February 2007 Gas Turbine Efficiency plc Placing Gas Turbine Efficiency plc ("GTE" or the "Company"), a leading supplier ofadvanced high pressure gas turbine cleaning systems for the aviation and powergeneration industries, announces that it has conditionally allotted 2,888,890new ordinary shares ("Subscription Shares") of 0.2 pence each in the capital ofthe Company ("Ordinary Shares") at 45.0 pence per share (the "SubscriptionPrice") to raise approximately £1.3 million (before expenses). The SubscriptionShares have been allotted out of the Company's existing share allotmentauthorities. Completion of the subscription is conditional on admission to trading on AIM ofthe Subscription Shares occurring on or by 20 February 2007. Application foradmission is being made today and admission is expected to occur on 14 February2007. Enquiries: Gas Turbine Efficiency plcSteven Zwolinski, CEO +44 20 7929 8989 on the day +46 8 546 10 528Libertas CapitalAamir Quraishi, Charles Goodfellow + 44 20 7569 9650 Corfin CommunicationsNeil Thapar, Harry Chathli +44 (0)20 7929 8989 About GTE GTE, whose shares are trading on the AIM market of the London Stock Exchange,develops, assembles and markets cleaning systems, as well as other associatedequipment, for the internal cleaning of gas turbine compressors. The Companysells its products globally to international blue chip customers in the aviationand industrial sectors and to date its products have been used on over 1,000 gasturbines across 34 countries in Europe, the Middle East, Asia and the Americas.Its operational centres are located in Stockholm, Sweden; St Petersburg, Russiaand Houston, Texas, USA. This information is provided by RNS The company news service from the London Stock Exchange

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