Tungsten Corporation appoints Executive Director

TUNGSTEN CORPORATION PLC 

("Tungsten" or the "Company")

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For Immediate Release 22 October

TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

Directorate Change

London, 22 October - Tungsten Corporation plc (LSE:TUNG)

Tungsten Corporation is delighted to announce the appointment of Richard M. Hurwitz, 50, as an executive Director of the Company effective from 22 October 2014.

Rick Hurwitz will remain CEO for Tungsten Americas and will take on additional responsibilities as Head of Global Client Development, focusing on multi-national companies that are expanding their use of Tungsten's network around the world.

Previously, Rick was Chief Executive of Pictometry International where he led the business' strategic transformation. He was a partner at Aegis Investment Partners, a private investment firm and a Managing Partner with Bancorp Services where he ran the firm's subsidiary broker-dealer. Earlier, Rick was the Chief Executive of Bridge Information Systems' European operations.

Edmund Truell, Group CEO of Tungsten Corporation Plc, commented "Rick is a critical member of Tungsten's management team, developing and leading our growth strategy in the US which is an important market for us. We will benefit from his experience growing financial service and technology companies as he assumes responsibility for developing Tungsten's relationships with existing and new multi-national corporate clients. I am delighted to welcome Rick to the board."

Enquiries:

Tungsten Corporation plc

Edmund Truell, Chief Executive Officer +44 20 7280 7807

Juliana Wheeler, Head of Global Communications

Charles Stanley Securities

(Nominated Adviser and Joint Broker)

Marc Milmo/Dugald Carlean +44 20 7149 6000

Canaccord Genuity Limited

(Joint Broker)

Simon Bridges/Peter Stewart/Cameron Duncan +44 20 7523 8000

Equus Group (Communications)

Piers Hooper / Sam Barton +44 20 7223 1100

Details of directorships that Rick Hurwitz currently holds or has held in the previous five years, are given below:

Current directorships:

Manning & Napier Advisors LLC

Symbility Solutions Inc.

Past directorships:

Pictometry International Corp.

Manning & Napier Funds

Pioneering Technology Corp.

Save for the declarations above there is no further information to be disclosed under Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies.

About Tungsten Corporation plcTungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.

Buyer organisations that join Tungsten Network, built on OB10 e-Invoicing, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing through Tungsten Bank and helps buying organisations profit by applying real-time spend analytics to its $750bn repository of line-level invoice data. Tungsten Corporation's services now include DocuSphere, a provider of accounts payable automation solutions.

Tungsten serves 53% of the Fortune 500 and 66% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It is compliant in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and US Federal Government.

Tungsten Corporation joined forces with OB10 in 2013 to create the world's largest electronic trading network.

Contact: James Culverhouse, Equus Group, +44 20 7223 1100. [email protected]