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RNS Number:4096C
Hot Tuna (International) plc
04 May 2006


Press Release                                                         4 May 2006


                          Hot Tuna (International) PLC

                         ("Hot Tuna" or "the Company")


             Acquisition of remaining stake in US licensee company

                         Key management hires in the US

Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authentic
surf heritage, is pleased to announce the acquisition of the remaining 49 per
cent. interest in its US subsidiary licensee company.  The purchase of the
remaining stake in Hot Tuna International Inc. is part of the Company's overall
strategy and follows the acquisition of a 51 per cent. controlling interest as
announced on 17 November 2005.

The Company has acquired the additional 49 per cent. holding of common stock in
Hot Tuna International, Inc. from Hot Tuna USA, LLC ("Hot Tuna USA").  Hot Tuna
USA initially acquired the stake pursuant to an Asset Purchase and Contribution
Agreement on 17 November 2005.  The Asset Purchase and Contribution Agreement
was in consideration for Hot Tuna USA assigning to Hot Tuna International Inc.
its exclusive licence, in the United States and Mexico, to use the intellectual
property for Hot Tuna logos to design, manufacture, distribute and sell products
bearing the logo.  Following the purchase of the remaining 49 per cent. stake,
Hot Tuna International Inc is now wholly-owned by the Company.

To fund the purchase of the additional 49 per cent. stake in Hot Tuna
International Inc., the Company has allotted and issued 3,400,000 ordinary
shares in the Company to Hot Tuna USA.  The shares are subject to lock-in
restrictions on sale, whereby subject to limited exceptions, 1,700,000 may not
be sold for a period of one year and 1,700,000 may not be sold for a period of
two years.  Application will be made for the new ordinary shares to be admitted
to AIM.  Dealings are expected to commence on 9 May 2006.  The Company has also
agreed to grant Hot Tuna USA an option to acquire up to a further 2,230,000
ordinary shares.  Of these options, 1,115,000 options will be exercisable from
the end of year one at a price of 75p and 1,115,000 options will be exercisable
from the end of year two at a price of 100p.  All options are exercisable for a
period of five years.

For the purposes of Rule 13 of the AIM Rules, the acquisition of the remaining
49 per cent interest in Hot Tuna International Inc. constitutes a related party
transaction because Hot Tuna USA owns more than 10% of the shares in Hot Tuna
International Inc., which is a subsidiary of the Company.  The directors of the
Company consider, having consulted with its Nominated Adviser Seymour Pierce,
that the terms of the transaction are fair and reasonable insofar as its
shareholders are concerned.

Commenting on the acquisition, Ranjit Murugason, Chairman of Hot Tuna, said: "
The acquisition of the remaining stake in Hot Tuna International Inc. continues
our strategy of gaining direct ownership over the Hot Tuna brand in key global
markets.  Our full control over our subsidiary in the US, which is the world's
largest surf clothing market, places the Company in a strong position to create
maximum traction in this important region."

Key Management Hires

The Company is also pleased to announce that, as part of its strategy and to
strengthen its US operation, it has made the following three new executive
appointments all of which commenced working for Hot Tuna International Inc. in
April 2006:

Tim Bernardy has joined the Hot Tuna team as the new Chief Operations Officer
and principal executive in charge of Hot Tuna's US business.  Mr Bernardy has
over 25 years of relevant industry experience in the US including 15 years with
O'Neill, one of the leading US surf lifestyle brands, where he acted as the
National Sales and Marketing Director.  Prior to his position at O'Neill, Mr
Bernardy was the National Sales and Marketing Director of RedSand, a division of
NASDAQ listed Perry Ellis Inc.  Mr Bernardy is immediately charged with the job
of driving the US business and assisting with global business strategy.

Alain Mazer recently left NASDAQ-listed Warnaco as the Director of Public
relations for Ocean Pacific to join Hot Tuna.  Mr Mazer is an award-winning
marketing specialist with a history of successes focused in youth culture and
related action sports, fashion, music and entertainment and has been appointed
as the Director of Marketing and Public Relations.  Mr Mazer will be responsible
for all marketing, advertising, brand management and communications activities
for the Company.

Bryce Cole joins Hot Tuna from his previous role as the Design Director at Perry
Ellis for the RedSand brand and was previously the senior designer for Rusty and
O'Neill.  Mr Cole is a multifaceted designer with a solid understanding of
global market trends and sales patterns.  Furthermore, he also has extensive
retail experience from concept design to buying and merchandising.  Mr Cole will
be in charge of the design department at Hot Tuna International Inc. and
responsible for all design and production activities.

Commenting on the appointments, Marcus Gracey, Managing Director of Hot Tuna,
commented: "The strategic addition of these key executives adds significant
weight and experience to the US team and the global executive group.  I am very
excited that Hot Tuna is attracting this calibre of experience and also that
they are like-minded, lifestyle driven, passionate individuals who culturally
fit the business.  Together, these additions will deliver significant momentum
and noticeable change to the business within a very short period of time."

                                    - Ends -

For further information:
Hot Tuna (International) PLC
Ranjit Murugason, Chairman                            Tel: +44 (0) 20 7016 5100
ranjit_murugason@hottunaplc.com

Seymour Pierce Limited
Sarah Wharry / Parimal Kumar                          Tel: +44 (0) 20 7107 8000
parimalkumar@seymourpierce.com                            www.seymourpierce.com

Media enquiries:
Abchurch
Henry Harrison-Topham / Chris Lane                    Tel: +44 (0) 20 7398 7700
henry.ht@abchurch-group.com                              www.abchurch-group.com


                                Notes to Editors

Hot Tuna International PLC (AIM: HTT) owns the rights to the Hot Tuna brand, a
progenitor of global youth fashion, born in Australia with a heritage of
authentic surf culture.

Hot Tuna is one of the world's most iconic names in surf lifestyle and can trace
its roots back to 1969 when it was founded by a surfer and his fashion designer
wife.   Though the label had not been actively marketed over for the last
decade, it retained an organic cult status among core action sports enthusiasts.

In June 2005, Hot Tuna International PLC purchased the 'Hot Tuna' brand from a
consortium of investors, listed on AIM in September 2005, and has since started
to aggressively market the brand and reinvigorate the business.  The Company now
owns all intellectual property rights to its name and related iconography, and
has put in place key management drawn from the executive ranks of Quiksilver,
O'Neill and Ocean Pacific, among others.

Headquartered in the UK, Hot Tuna operates design, marketing and distribution
hubs in the USA and the UK, with exclusive licensed apparel and accessories
businesses in Australia and New Zealand.  In its core markets, Hot Tuna sells
products, which are directly manufactured in facilities in the U.S.A. and in
China.  In other non-core channels, the Company employs a license model wherein
Hot Tuna enters into contractual relationships alongside other parties with
complementary product offerings, solid financing and infrastructure, and
superior market knowledge and relations.

Hot Tuna offices are maintained in Sydney, Los Angeles and London.


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

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