HICH Hichens Harr.

RNS Number:2061J
Hichens Harrison & Co PLC
05 December 2007


                          Hichens, Harrison & Co. plc
                     ("Hichens, Harrison" or the "Company")


                         PANCELTICA PRE-IPO FUNDRAISING


Hichens, Harrison, the City of London's oldest firm of Stockbrokers is pleased
to announce that it has today completed a pre-IPO financing on behalf of
Panceltica Limited raising in excess of US$50m net of costs, of which in excess
of $45m was raised in the Middle East.

Panceltica Limited ("Panceltica") is a fast track steel construction business
operating throughout the Gulf and neighboring region. This placing values
Panceltica at $394 million. It is Panceltica's intention to come to the AIM
market in the first quarter of 2008.


Adam Wilson Chief Executive commented:-


"We are delighted to have completed this deal in the Middle East - demonstrating
our increasing ability to raise funds from investors in that region. This
progress, coupled with the existing regional projects that are already showing
positive results, further strengthens our position as a growing player in the
Middle East. The international business outlook continues to remain encouraging
and we strongly feel that this emphasises the positive returns on the
investments made in our global strategy of focusing on Emerging Markets"



                                      ENDS

For further information, please contact:

Hichens, Harrison            Ruegg & Co Ltd          Hansard Group
Daniel Briggs                Brett Miller            Adam Reynolds
T: 020 7382 7776             T: 020 7584 3663        T: 020 7245 1100





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