LPP Lapp Plats

RNS Number:5482L
Lapp Plats Plc
03 November 2006

Press Release

3 November 2006

                 Lapp Plats plc ("Lapp Plats" or the "Company")

                       Update on Acquisition Discussions

Further to the announcement made on 24 October 2006, the Board of Lapp Plats
have concluded their due diligence on a proposed acquisition and have decided
that it does not meet the investment criteria required by the Board and
consequently Lapp Plats have withdrawn from negotiations.

In exercising the Company's stated strategy to seek acquisition and development
prospects in the broader resource sector encompassing minerals, metals, oil and
gas opportunities, Lapp Plats confirms that it remains in negotiations with
third parties on a number of other target opportunities.  There can be no
certainty that any acquisition will be made nor as to the terms and conditions
on which any acquisition might be made in respect of these continuing
discussions.

Contacts:

Michael Nolan, Chief Executive Officer + 353 87 242 9221




                      This information is provided by RNS
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