Placing and further subscription of loan notes

7 February 2011

mirada plc ("mirada" or "the Company")

(AIM: MIRA)

Placing and further subscription of loan notes

mirada plc, the AIM-quoted audiovisual interaction specialist, is pleased to announce that it has conditionally placed with Richard Alden, Non-Executive Chairman, Francis Coles, Non-Executive Director and other investors 1,335,000 new ordinary shares of 1p each ("Placing Shares") at a placing price of 20p ("the Placing"), raising gross proceeds of £267,000. In addition, certain outstanding creditors of, in aggregate, £33,000, are to be converted into 165,000 new ordinary shares of 1p each, credited as fully paid at 20 pence per share ("the Capitalisation").

Further to the announcement on 23 March 2010, the Company has issued a further £200,000 of loan notes, at par value, under the terms of the existing Secured Convertible Loan facility. The terms of the existing Secured Convertible Loan facility remain as set out in the announcement of 23 March 2010.

The net funds raised from the Placing, the Capitalisation and the additional subscription of loan notes under the terms of the existing Secured Convertible Loan facility will be used for working capital purposes and continued investment in product development.

Following the Placing, Richard Alden and Francis Coles will have an interest in the following ordinary shares in the Company:

Application has been made to the London Stock Exchange for admission of the 1,500,000 new ordinary shares to be issued pursuant to the Placing and the Capitalisation to be admitted to trading on AIM. Admission is expected to occur on 9 February 2011.

For the purposes of the Disclosure and Transparency Rules, mirada's total issued share capital following the issue of the 1,500,000 new ordinary shares consists of 21,305,485 ordinary shares of 1 penny each.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, mirada, under the Disclosure and Transparency Rules.

Under AIM Rule 13 the participation in the Placing by Richard Alden and Francis Coles (who are subscribing 125,000 Placing Shares and 125,000 Placing Shares respectively) are related party transactions for the purposes of the AIM Rules. José Luis Vázquez, Rafael Martín Sanz, Javier Casanueva, Francisco Javier Herrero and Carlos Vizcayno consider, having consulted with Seymour Pierce Limited, that the terms of that transaction (being those Directors' participations in the Placing) are fair and reasonable insofar as the Shareholders are concerned.

As part of the Placing, t1ps Smaller Companies Growth Fund subscribed for 910,000 Placing Shares and has informed the Company that they now have an interest in 910,000 ordinary shares in the Company representing approximately 4.27 per cent. of the enlarged issued ordinary share capital of the Company.

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About mirada

mirada creates and manages services which enable consumers to interact with and purchase digital content on television, mobile, online and bespoke devices. mirada's products and solutions are used worldwide to deliver interactive TV, VOD, multi-player gaming, digital marketing and payment services. Its products and services have been deployed by some of the biggest names in digital media and broadcasting including Disney International TV, Sky, ITV and MTV Networks. Headquartered in London, mirada has commercial offices across Europe and Latin America and operates technical centres in the UK and Spain. For more information, visit www.mirada.tv.