Coolabi plc Response to Press Speculation

Further to the announcement on 9 August 2011 and recent press speculation, Coolabi confirms that it has received an approach from North Promotions Limited, a company funded by Edge Performance VCT plc, which may or may not lead to an offer being made for the Company. Edge, managed by Edge Investment Management Limited, is the Company’s largest shareholder. Discussions remain at a very early stage and there can be no certainty that these discussions could lead to an offer for the Company. A further announcement will be expected when appropriate.