Regulatory News Announcement - Update on meeting with Minerva

UPDATE ON MEETING BETWEEN KIFIN, MINERVA PLC'S LARGEST SHAREHOLDER, AND MINERVA'S CHAIRMAN

16 July 2010

After consulting with a number of major institutional shareholders of Minerva PLC ("Minerva" or the "Company"), a representative of KiFin Limited ("KiFin") held a private meeting with the Company's chairman and key advisors to discuss topics that are of ongoing concern. 

At this meeting, KiFin was seeking to obtain answers to certain rudimentary questions which have remained unanswered, despite attempts to open a constructive dialogue with the Company over a period of around six months.

Minerva's announcement on 14 July 2010 misrepresents the focus of these discussions which centred on the lack of disclosure of important financial information, strategy and the Company's future viability under the present management.

For the benefit of all shareholders, KiFin is seeking appropriate disclosure, transparency and a management team that is prepared to provide this information to all shareholders.  KiFin has no desire to obtain control of Minerva as is alleged in their statement.

The continual failure of the Board to provide adequate information to all shareholders leaves KiFin with little option but to take further steps.

A further announcement will be made in due course.

KiFin Limited

Michael Segerman

msegerman@guardiantrust.ch