Rights Issue - Results of Rump placing

17 March 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA, SWITZERLAND, THE UNITED STATES OR ANY OTHER JURISDICTION OUTSIDE THE UNITED KINGDOM WHERE THE DISTRIBUTION OF SUCH MATERIALS MAY LEAD TO A BREACH OF ANY RELEVANT LEGAL OR REGULATORY REQUIREMENT

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO PURCHASE, OTHERWISE ACQUIRE, SUBSCRIBE FOR, SELL, OTHERWISE DISPOSE OF OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO SELL, OTHERWISE DISPOSE OF, ISSUE, PURCHASE, OTHERWISE ACQUIRE OR SUBSCRIBE FOR, ANY SECURITY

Findel plc ("Findel" or the "Company")

Rights Issue - Results of Rump placing

The Company announced on 16 March that it had received valid acceptances in respect of 1,045,489,113 New Ordinary Shares, representing approximately 85.44 per cent. of the total number of New Ordinary Shares offered to shareholders pursuant to the 5 for 2 Rights Issue announced by the Company on 11 February 2011.

The Board of Findel announces that, in accordance with the arrangements set out in Part III of the Prospectus dated 11 February 2011, J.P. Morgan Cazenove, acting as sole Underwriter and Bookrunner, has used its reasonable endeavours to procure acquirers for the 178,116,327 New Ordinary Shares for which valid acceptances were not received. However in the light of current market conditions it has not been possible to procure subscribers at a price in excess of the Issue Price and accordingly, J.P. Morgan Cazenove will subscribe for the remaining 178,116,327 New Ordinary Shares, at the Issue Price of 6.54 pence per New Ordinary Share.

This announcement should be read in conjunction with the full text of the Prospectus published on 11 February 2011. Definitions used in the Prospectus shall have the same meanings when used in this announcement unless the context otherwise requires.

For further information, please contact:

Findel plc T: +44 (0)161 303 3465David Sugden, ChairmanRoger Siddle, Chief ExecutiveTim Kowalski, Finance Director

Financial Dynamics T: +44 (0)20 7831 3113Jonathon Brill / Oliver Winters

Important notice:

Nothing in this announcement should be interpreted as a term or condition of the Rights Issue. Any purchase of or application for New Ordinary Shares under or in connection with the Rights Issue should only be made on the basis of information contained in the Prospectus.

The distribution of this announcement and information and documentation relating to the Rights Issue may be restricted by law in certain jurisdictions. Persons to whose attention this announcement comes are required to inform themselves about and to observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement and the information contained herein are not for release, publication or distribution in or into Canada, Japan, New Zealand, South Africa, Switzerland, the United States or any other jurisdiction outside the United Kingdom where the distribution of such materials may lead to a breach of any relevant legal or regulatory requirement (a "Restricted Jurisdiction").

This announcement (including the terms and conditions set out herein) does not constitute an offer of securities for sale in the United States or any of the other Restricted Jurisdiction and none of the New Ordinary Shares have been or will be registered under the United States Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state of the United States or any of the Restricted Jurisdictions. The New Ordinary Shares may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration or to any national, resident or citizen of any other Restricted Jurisdiction.

The New Ordinary Shares have not been approved or disapproved by the United States Securities and Exchange Commission, any state securities commission in the United States or any other United States regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offer of the New Ordinary Shares or the accuracy or adequacy of the Prospectus or this announcement. Any representation to the contrary is a criminal offence in the United States.