Update re Banking Covenants

ILX Group PLC

("ILX" or "the Company")

Update Re Banking Covenants

ILX Group plc (AiM: ILX), the AIM quoted provider of e-learning software and business training, announces that, following the investment by Praxis Trustees and Ken Scott, Chief Executive, announced on 1st August and approved at the General Meeting on 21st August, the Company is no longer in breach of any of its banking covenants. All previous breaches have been waived.

03 September 2012 

Ken Scott, Chief Executive, ILX Group plc commented:

"With the additional funding, ILX now has a firm base on which we can securely grow the Company."

ILX Group plc 020 7751 7100

Ken Scott, Chief Executive

FinnCap 020 7600 1658

Marc Young/ Charlotte Stranner

Lothbury Financial Services Limited 020 7868 2010

Michael Padley / Chris Roberts