Trading Statement

Not for release, publication or distribution directly or indirectly, in whole or in part, in or into or from the United States of America (including its territories and possessions, any state of the United States, and the District of Columbia), Canada, Australia, the Republic of South Africa, the Republic of Ireland or Japan, or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

This press release does not constitute or form a part of, and should not be construed as, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in MyCelx Technologies Corporation ("MyCelx" or the "Company").

THE COMPANY'S COMMON SHARES HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US SECURITIES ACT") OR ANY STATE SECURITIES LAWS (THE "STATE ACTS") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS THE SECURITIES ARE REGISTERED UNDER THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE US SECURITIES ACT AND ANY APPLICABLE STATE ACTS IS AVAILABLE.

MyCelx Technologies Corporation

("MyCelx" or the "Company") (AIM: MYX)

9 May 2012

Trading Statement

MyCelx Technologies, Inc (AIM: MYX), the clean water technology company providing patented solutions for commercial industrial markets worldwide, announces an update on trading in 2012. Progress has continued during the first half of the year, in particular with the securing, as announced on 23 April 2012, of two major separate Purchase Orders totalling US$2.65 million from the Middle East and India, both for delivery and installation during the current financial year. The Company continues to trade in line with management's expectations with continued sales to new as well as existing customers.

In addition, the Company has increased production capability in order to meet demand through adding warehouse and storage space, and appointing additional fabricators to accelerate equipment time tables.

In April 2012, the Company opened a new office and warehouse with additional personnel in Jubail Industrial City, Kingdom of Saudi Arabia, to service customers in that region. The Company has also made its first hire in Houston, USA to manage the Company's interface with global EPCs and as well as manage projects in the Gulf of Mexico.

The Company also announces that David Pattillo, who has served as a Director and Chief Financial Officer, has decided to step down from these positions with effect from 31 May 2012. Mr. Pattillo initiated and led the Company through its successful IPO on AIM in August 2011.The Board is delighted that David has agreed to stay on with the Company to work on specific priority projects and initiatives. The Board is grateful to David for the insight and leadership he provided during a critical period of the Company's growth.

Mark Clark, who is currently Financial Controller and joined MyCelx in October 2011 following a 14 year career at Invesco, has been appointed as Interim Chief Financial Officer with effect from 31 May 2012. The Board expects to make an appointment to the role of Chief Financial Officer in due course.

For further information please contact:

MyCelx Technologies Corporation

Connie Mixon, CEO

David Pattillo, CFO

Tel: +1 888 306 6843

Numis Securities Limited

Corporate Finance 

Alastair Stratton

Stuart Skinner

Jamie Loughborough

Corporate Broking

James Black

Ben Stoop

Tel: +44 20 7260 1000

Pelham Bell Pottinger

Mark Antelme

Nick Lambert

Henry Lerwill

Tel: +44 20 7861 3232

Notes for Editors

·; MyCelx Technologies Corporation is a clean water technology company that provides novel water treatment solutions to the oil and gas, power, marine and heavy manufacturing sectors

·; MyCelx invented and is the owner of the MyCelx polymer which is infused in the consumable media contained in equipment supplied by the Company

·; The technology produces treatment results that compare favourably to existing competition in effectiveness, cost and footprint. The MyCelx polymer and its use are protected by patents and other intellectual property rights

·; The defining difference of the MyCelx polymer as compared with alternative technologies currently available is that it is capable of permanently and reliably removing free, emulsified and dissolved hydrocarbons from water upon contact to levels between 0-10 parts per million (ppm) at any flow rate

·; MyCelx equipment has been installed successfully at the facilities of leading industry operators around the globe. The focus of the Company is now directed at the commercial application of MyCelx solutions in both upstream and downstream markets in the oil and gas industry

·; Over the last three years, the Company has sold its products primarily in North America, Asia, Australia, Middle East and Europe. Customers include such oil and gas companies as Chevron, BP, Anadarko Petroleum Corporation, SABIC, engineering, procurement and construction companies such as Mustang Engineering and global water treatment companies

·; Further information on MyCelx Technologies Corporation can be found at www.mycelx.com