HICH Hichens Harr.

    Embargoed Release: 07:00hrs Thursday 3 January 2008

                          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 on 31st December 2007 it completed a second pre-IPO financing
on behalf of Panceltica Limited raising in excess of US$50,000,000 net of
costs. This fundraising completes the second of two pre-IPO ("Panceltica")
financings, raising in total US$110,000,000 in advance of Panceltica's planned
Admission to AIM which is expected later in the first quarter of 2008.
Panceltica is a fast track steel construction business operating throughout the
Gulf and neighboring regions. This recent placing values Panceltica at
approximately $450 million.

Adam Wilson Chief Executive of Hichens, Harrison commented:-

"We are very happy to have successfully completed both these financings for
Panceltica before the end of 2007. Our Middle Eastern operations continue to go
from strength-to-strength building an important position for the Company in the
Middle East, which is a significant international investment market. We look
forward to introducing Panceltica to London's AIM later this year bringing
another highly successful international company to the London Market."

                                    -ENDS-                                     

For further information, please contact:

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



END

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