AXIS Axismobile

RNS Number:2075F
Axismobile PLC
05 October 2007

Date: 5 October 2007
On behalf of: AxisMobile PLC ("AxisMobile" or "the Company")
For immediate release

AxisMobile PLC
Secures $800,000 follow-on loan facility

AxisMobile PLC (AIM: AXIS), the hi-tech specialists in consumer mobile email,
today announces it has signed loan agreements worth $800,000 led by Plenus
Venture Lending and includes Pitango Venture Capital and Concord Ventures. The
Company investigated a large number of funding options before entering into the
follow-on loan facility. The loan was awarded from existing lenders as follows:
Plenus Venture Lending awarded a loan of $400,000, Pitango Venture Capital
awarded a loan of $300,000 and Concord Ventures awarded a loan of $100,000.

The loans are repayable over 24 months, with a grace period of 6 months, with
interest charged at LIBOR plus 5.5%. 470,000 warrants were also granted at 25p
and finance charges were incurred.

Both the initial loan and the follow on loan will be subject to a grace period
of six months and can be converted to AxisMobile shares at a 20% discount to
market price or 51p.

The funds will enable the Company to accelerate the roll out of its services and
solutions to its growing client base and provide working capital ahead of
revenues generated from its customers . As part of the loan facility is being
provided by existing shareholders of the Company, Pitango Venture Capital and
Concord Ventures, the loan is classified as a related party transaction under
the AIM Rules for Companies. The directors, having consulted with the Company's
nominated adviser, Canaccord Adams Limited, consider the terms of the loan are
fair and reasonable insofar as shareholders are concerned.

Sharon David, CEO of AxisMobile, commented: "The additional funds provided by
the follow on loans from Plenus, Pitango and Concord will enable AxisMobile to
continue to expand its customer base and concentrate on driving the business
forward to a position where our working capital requirements will be satisfied
by revenues generated from our customers."



Enquiries to:

Hugo Goldman                             Tel: + 972 3 768 5555
AxisMobile                               www.axismobile.com
                                         

Emma Kane/Paul Dulieu                    Tel: +44 (0)20 7822 0200
Redleaf Communications



Notes to Editors

About AxisMobile

* AxisMobile was founded during early 2000. It is a leader in the emerging
  market of consumer mobile email which allows consumers to access email via
  mobile telephone handsets.

* AxisMobile's objective is to provide software that drives the mass market
  adoption of mobile email and related products by making multimedia
  information portable, ubiquitous and easy to access on subscribers' existing
  mobile handsets at an attractive cost. AxisMobile's email platform provides a
  'one-stop-shop' for consumer mobile as it supports Web, WAP, IMAP4, MMS, SMS
  and J2ME interfaces. Such interfaces cover most methods of transmitting mobile
  data communications. AxisMobile's platform means that mobile operators no
  longer need to integrate platforms from different vendors. This reduces costs.
  AxisMobile aims to leverage customer relationships by offering additional
  products and services based on its technology platform, hence producing
  cross-sales and increasing the value to customers and to its shareholders.

* Consumer mobile email represents a huge growth opportunity for mobile
  operators and vendors. The success of mobile communications has become a
  worldwide phenomenon with approximately 1.7 billion subscribers globally. In
  2005, Forrester research estimated that the number of Western European
  consumer mobile email users will increase from 12.3 million in 2005 to 62.7
  million by 2008. During the same period, revenues from consumer mobile mail
  will grow from Euro120 million per year to Euro1.15 billion per year in Western
  Europe alone. In the US, Forrester estimates that the number of consumer
  mobile email users will increase from 12.1 million in 2005 to 38 million in
  2008 and that revenues will soar from $13 million per year in 2005 to $406
  million in 2008.

* Publication quality photographs are available from Redleaf Communications


* Further information on AxisMobile is available from the AxisMobile website:
  www.axismobile.com



About Plenus

Plenus is Israel's only Venture Lending Fund, providing fully secured equity
based credit facilities/loans (up to 3 year duration) to revenue stage
technology companies. Plenus currently manages approximately $200mm and is
backed by Israel's largest financial institutions as well as US based investors.
To date, the fund has provided its portfolio companies credit facilities
totalling over $150mm in over 40 deals and has participated in 8 significant
exits, 6 in 2006 alone including: Followap (NYSE: NSR), Identify (NYSE: BMC),
Whale (Nasdaq: MSFT), Insureworx (Nasdaq: FISV), XMPie (NYSE: XRX), and StoreAge
(NYSE: LSI). Alongside Plenus Venture Lending, Plenus also manages Plenus
Mezzanine, aimed at the non-high-tech middle market in Israel.

For more information on Plenus, please visit www.plenus.co.il or contact +972 9
952 0700.






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            The company news service from the London Stock Exchange

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