FEI Fund-E Inv

    Fundamental-e Investments plc (the "Company" or "FEI")             

                             Forfeiture of Shares                              

The board of the Company announce that on 21 June 2006 it cancelled 46,020,918
ordinary shares in the Company, representing approximately 4.6% of FEI's
existing share capital.

The Company notified shareholders in the preliminary announcement published 23
February 2006 that at its forthcoming Annual General Meeting ("AGM") it was
proposing to adopt provisions in the Company's articles of association
empowering directors in specific circumstances to forfeit shares without
compensation. These provisions were duly adopted at the AGM held on 23 March
2006.

The 46,020,918 shares were allotted Castell Trading Investments SL ("Castell")
pursuant to the acquisition of software licences by the Company. The board of
the Company is not satisfied that the requirements for the proper issue of
these shares were satisfied or that Castell satisfactorily performed its
obligations.

As was indicated in the Chairman's statement, such forfeiture involves complex
issues and it is possible that the exercise of this power will be challenged
including by court action and possibly reversed.

The issued share capital of the Company following the forfeiture and
cancellation is 949,426,447.



END

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