ARX Aerobox

RNS Number:1643F
AeroBox plc
12 November 2004


                    AeroBox plc ("AeroBox" or the "Company")

                  Placing of Shares to Raise #4.8 million and
                    Notice of Extraordinary General Meeting

AeroBox is pleased to announce a placing of new shares to raise #4.8 million
before expenses. The Company proposes to place a total of 34,285,715 new
ordinary shares at 14p per share with investment institutions and other
investors.

Under the placing, the Company will immediately issue 18,554,064 shares at 14p
to raise approximately #2.6 million, and subject to obtaining shareholder
approval at an Extraordinary General Meeting ("EGM") to re-new the directors'
authority to allot shares and dis-apply statutory pre-emption rights, the
Company will place a further 15,731,651 shares at 14p to raise approximately
#2.2 million.

The purpose of the fund-raising is to provide working capital, particularly to
finance the development and certification of different types of Aerobox ULD
(unit load devices), including an actively refrigerated ULD (under joint venture
with Kelvin Technologies Inc.), and application of the AeroBox technology to
develop other non-aviation products. The funds will also be used in marketing
expenditure for expansion and revenue generation.

In the placing, subject to obtaining the shareholder approvals at the EGM,
Richard Scott, Finance Director, will subscribe for 100,000 shares and Anthony
Leon, Non-executive Director, will subscribe for 35,000 shares.

The Company will today post to shareholders a notice convening an EGM of the
Company on 9 December 2004 at 5.30p.m. At the EGM, resolutions will be put to
shareholders for the purpose of substituting and renewing the existing authority
of the Directors pursuant to sections 80 and 95 of the Act (authority to allot
shares and dis-application of statutory pre-emption rights).

Copies of the notice of EGM will be available from the offices of Seymour Pierce
Ltd, at Bucklersbury House, 3 Queen Victoria Street, London EC4N 8EL and from
the Company's website, www.aeroboxplc.com.

Enquiries:

AeroBox plc                                         +44 20 7929 5599
David Sebire, Chairman
Bob Bushman, CEO
Richard Scott, Finance Director

Seymour Pierce                                      +44 20 7107 8000
Jeremy Porter/Jonathan Wright

HolbornPublic Relations Limited                     +44 20 7929 5599
David Bick/Trevor Phillips

Web site:          www.aeroboxplc.com

Notes to Editors:

The Aerobox air cargo container is the result of a decade of research and
development into composite structure panels. The strength and thermal resistance
of the AeroplazTM thermoplastic composite panels enables Aerobox to develop
custom made solutions for a wide range of applications. The unique construction
of AeroplazTM provides for improved strength and durability that can reduce
costly repairs by over 75% as well as improving reliability, utilisation and
safety.



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

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