Trading Update and Proposed Change of Strategy

3 August 2011

Mentum Inc

("the Company")

Trading Update and Proposed Change in Strategy

Mentum Inc (MEN.L), announces that it intends to report its unaudited interim results for the six months ended 30 June 2011 during the week commencing 26 September 2011. The Board expects to report a small trading profit from its existing LME trading activities but will record a loss at Group level reflecting the impact of the run-off of executive salaries through notice periods and some restructuring costs against lower activity levels from the closure of all ancillary activities including the asset management business. The period post 30 June will reflect the results of LME trading activities against a lower cost base as the majority of these run-off costs will cease during H2 2011.

Having considered the size and nature of the business which will remain following this period of restructuring, the Board is seeking a purchaser for the LME trading activities and has received an expression of interest which is being considered by the Board. A disposal of the LME trading activities will allow the Company to focus on an alternative investment proposition that can deliver enhanced value to shareholders

Such a disposal would constitute a fundamental disposal pursuant to Rule 15 of the AIM Rules and would require the approval of shareholders. Following such disposal, Mentum will be classed as an Investing Company under Rule 15 of the AIM Rules and the proposed investing strategy will be included in a circular to be sent to shareholders in due course, assuming an acceptable offer is forthcoming for the LME trading activities Having reviewed a number of potential business sectors and potential opportunities it is the opinion of the Board that the Company's investing strategy should be to seek business opportunities in the Oil & Gas sector and is confident that it will be able to identify a suitable business to acquire.

The Company will update shareholders in due course with further progress.

Graham Porter, Chairman commented "We believe that the proposed change in strategy is in the best interests of shareholders and are confident that we can identify a suitable business which can deliver value for shareholders."

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