Reduction of Capital effective

31 January 2013

IPSO Ventures plc

(to be re-named Plutus Resources plc)

(the "Company")

Reduction of Capital effective

Further to the announcements made by the Company on, inter alia, 28 December 2012 and 14 January 2013, the Company is pleased to announce that following the confirmation of the Reduction of Capital by the High Court yesterday, the Reduction of Capital has today become effective. Completion of the Proposals remains subject only to admission of the Subscription Shares to trading on AIM.

Pursuant to the Proposals, the Company has raised £360,000 (before expenses) through a subscription for 104,000,000 new Ordinary Shares at 0.25p per Ordinary Share and the issue of £100,000 of Convertible Loan Notes convertible into 40,000,000 new Ordinary Shares. Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM and dealings are expected to commence at 8:00 a.m. tomorrow, 1 February 2013.

As previously announced, upon Admission, Nicholas Lee will join the Board in the role of Non-Executive Director and John Kelly will step down from the Board. Craig Rochford (currently Chairman) will remain on the board as a Non-Executive Director. Accordingly the Board on Admission will comprise Nicholas Lee (Non-Executive Director) and Craig Rochford (Non-Executive Director). In addition, upon Admission, Charles Tatnall and James Longley, both of whom are Subscribers, will join the Company in non-Board capacities with James Longley acting as Chief Financial Officer and Company Secretary and Charles Tatnall acting as a consultant to the Company. Updated information on the appointment of Nicholas Lee, in accordance with Schedule 2(g) and Rule 17 of the AIM Rules for Companies, is detailed in the appendix below.

The Company has applied to the Registrar of Companies to change its name to Plutus Resources plc. A further announcement will be made by the Company with regards to the timing for the Company's change of name and the change of the Company's ticker from "IPS" to "PLR" becoming effective. The ISIN and SEDOL numbers of the Company will not change.

Definitions in this announcement are consistent with those set out in the circular issued to Shareholders of the Company on 28 December 2012, a copy of which is available on the investor section of the Company's current website (http://www.ipsoventures.com).

For further information, please contact:

Appendix - Regulatory Disclosures

Nicholas Lee, aged 50, is or has been a director or partner of the following companies during the previous five years:

Current directorships or partnerships Directorships or partnerships held in the past five years

Paternoster Resources plc WPG Solutions Limited

Brady Exploration plc Paragon Diamonds Limited

Astar Minerals plc Sweet China Limited

ACL Capital Limited Gardener Holdings (Kent) Limited

Boustead Agriculture Limited Novus Capital Markets Limited

Viridas Limited Centurion Resources plc

Leed Resources plc

Nicholas Lee has no direct interest in the issued share capital of the Company. Paternoster Resources plc, a company where Nicholas Lee is Chairman, has subscribed for 40,000,000 of the Subscription Shares at the Subscription Price and £100,000 of the Convertible Loan Notes. On Admission Paternoster Resources plc will be interested in 40,000,000 new Ordinary Shares representing 27.9% of the enlarged issued share capital of the Company on Admission.

There are no further disclosures to be made in relation to Nicholas Lee under schedule 2(g) or Rule 17 of the AIM Rules for Companies.