Suspension Announcement

Vallares PLC ("Vallares" or the "Company")

The Company announced earlier today its proposed acquisition of the entire issued share capital of Genel Energy International. As the proposed acquisition will be treated as a "reverse takeover" for the purposes of the Listing Rules, at the request of the Company, trading of Vallares's ordinary shares on the main market of the London Stock Exchange has been suspended. The Company and its advisers intend to work closely with the Financial Services Authority to provide the required information for trading in the Ordinary Shares to re-commence at the earliest possible date. The Company will provide updates to the market as appropriate.