ICU IN Cup

RNS Number:3380Z
In Cup Plus PLC
29 June 2007


29 June 2007



              In Cup Plus Plc ("In Cup Plus" or the "Company")
      Announcement regarding Pacific Continental Securities (UK) Limited


As part of the fundraising undertaken by the Company in July 2006, three option
agreements were signed between Pacific Continental Securities (UK) Limited
("Pacific Continental") and the Company, giving the Company and Pacific
Continental, the right but not the obligation, to put and call respectively an
agreed financial quantum of In Cup Plus' ordinary shares between certain pre-
agreed dates. As announced on 17 April 2007, the Company has exercised the first
of these options with the remaining two options, each for #100,000, currently
remaining unexercised. 

The directors of In Cup Plus have been advised that Pacific Continental has been
placed into administrative receivership. The Board intends to exercise the first
of these remaining options on 2 July under the previously agreed terms of the
agreement and has held discussions with the administrative receiver. In the
event that Pacific Continental's current position does not allow the exercise of
the option agreement to become effective, the impact on the Company's working
capital position would cause the Board to investigate the alternative financing
options available to the Company.

Pacific Continental is still acting as corporate broker to the Company.

The Board will make a further announcement to shareholders when appropriate.



Enquiries:

In Cup Plus
Martin Colenutt/Barry Marks                                       0870 746 1888

Deloitte Corporate Finance (nominated adviser to In Cup Plus)
James Lewis                                                       020 7936 3000


Pacific Continental Securities (UK) Limited (broker to In Cup Plus)
David Morgan/Glynn Reece                                          020 7769 7769





                      This information is provided by RNS
            The company news service from the London Stock Exchange
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