Issue of Equity and Management Changes

RNS Number : 0603A
Applied Intellectual Capital Ltd
29 July 2008

29 July 2008
APPLIED INTELLECTUAL CAPITAL LIMITED (AIC) (AIM: AINC)
FUNDRAISING AND MANAGEMENT CHANGES

Applied Intellectual Capital Limited announces that yesterday it entered into a placing agreement with Mirabaud Securities Ltd and
Nomura Code Securities Ltd for the placing of 2,250,000 new ordinary shares at a price of 120p to raise a total of �2,700,000 gross,
(�2,500,000 net of expenses). Application has been made for the shares being placed to be admitted to trading on the AIM market of the
London Stock Exchange, and it is expected that such admission will take place and trading will commence on 1 August 2008.

The proceeds of the placing will be used to further develop AIC's three near-commercial technologies and for working capital.

In conjunction with that focus, the Company announced the following management changes, effective immediately:

Tony Amor, one of the Company's non-executive directors, has assumed the role and responsibilities of Chief Executive Officer, on an
interim basis. All AIC's senior management will report directly to him, and he has full executive authority, as delegated by the Board.

Darron R. Brackenbury, one of the Company's founders, has expressed a wish to reduce his level of commitment to AIC. Accordingly, he has
resigned from the positions of Chief Operating Officer of AIC and non-executive Chairman of EverClear Solutions, Inc. (in which AIC holds a
45% equity ownership). He will remain a Director of AIC, carrying out special assignments for the CEO and Board.

Robert L. Clarke, also one of the Company's founders, has elected to step down as Chief Technology Officer. He will, for a period of
time, continue to work for AIC on a limited schedule, advising the company on its technology development programs and chairing the Technical
Advisory Board.

Dr. Stephen R. Clarke, the third member of the AIC's founding team and the Company's lead executive throughout its formative years, will
become Vice-Chairman. He will focus primarily on innovation, strategic business relationships, and developing AIC Technica's consulting
business.

The roles of Robert A. Stoffregen, Chief Financial Officer, and Selwyn Mould, Chief Executive Officer of AIC Labs, are unchanged. Kim
Ogaard-Nielsen, who joined the Company to head the RedOx business, was recently made Chief Executive Officer of AIC Ventures, with
responsibility for all AIC's major projects.

Three founder Directors, Stephen Clarke, Robert Clarke and Darron Brackenbury, have each subscribed to 83,333 new ordinary shares in the
placing at the placing price. These Directors have also agreed not to dispose of any shares for a period of 12 months without the consent of
Mirabaud Securities Ltd.

Commenting on the management changes, Sir Andrew Likierman, AIC's Chairman said "We are grateful to Tony Amor for accepting this
assignment, which we anticipate will last no more than 3 months. During that time he will focus heavily on empowering the new organization
to deliver key business objectives. With assistance from the Board and Steve Clarke, he will also lead the search for a new CEO, which will
start immediately.

The Board recognizes and is deeply appreciative of the vision, tenacity and many substantial business contributions of the Company's
founders. Even though Rob Clarke and Darron Brackenbury are reducing their time commitment, we welcome their continuing involvement and
thank them for their guidance and contributions to date. And we are grateful to Steve Clarke for his past leadership, for his current
support, and for the promise of all that his energy, inspiration and creativity will contribute to AIC's future.

We are confident that the Company's portfolio of technologies is on the verge of creating significant value for our shareholders. We
believe that we have a talented, experienced team that is capable of driving that value, and that, once we have fully implemented the
proposed management changes, AIC's results will lead to a period of sustained growth and profitability."

ENQUIRIES:
Applied Intellectual Capital: Tony Amor Tel +1 510 701 7755

Perlgut Group: Mark Perlgut Tel +1 212 799 0026

Nabarro Wells: Marc Cramsie Tel +44 (0)20 7634 4858

NOTES FOR EDITORS:
AIC is an AIM listed company that funds, develops, patents and commercialises electrochemical and advanced separations technologies in
clean electricity storage, water treatment, metals recovery and other emerging markets. AIC listed in AIM in January 2007 and now has a
market capitalization of approximately �54 million.
Background on Tony Amor:
After graduating from Cambridge in 1967, he worked for Shell International in London, Australia, and Venezuela. While earning an MBA at
Harvard, he worked for Arthur D. Little, and in 1976, joined Natomas Company, an energy and transportation company based in California.
Eventually, he worked as a senior officer for Natomas Energy's oil, gas, and coal interests. Tony has also served as president for Thermal
Power, a geothermal and renewable energy company. In 1984, he founded the Diablo Executive Group, an interim management, consulting, and
investment business focused on the environmental technology, energy, and utility sectors. In 2003, he was appointed CEO of ITI Energy
Limited, which invests in research, development, and commercialization of new energy technologies. He also served as a director of the
parent organization, ITI Scotland Limited, until 2005. Tony is now a Partner of Pulsar Energy Capital LLP, a private equity firm that
invests in the energy sector.

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

END

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