AGM Statement

Cubus Lux plc                                 

                                (the "Company")                                

                                 AGM Statement                                 

Cubus Lux plc, the AIM listed Croatian leisure and tourism company, is pleased
to announce that all of the resolutions proposed at today's AGM have been
approved by shareholders.

At the meeting, Gerhard Huber, Executive Chairman, commented on current
trading, the ongoing acquisition and the current pipeline of active projects:

"Our two principle operations, the Istrian based casinos and the Olive Island
Marina, are both starting to show some good improvements after a slow start to
the year partly caused by external factors which are now resolved.

"The main casino in Pula is located in a hotel which, for some time, was on the
market and consequently received little or no investment. This created
uncertainty which we believe was not conducive to our intended customer base.
The hotel has now been sold to a UK company and this situation has improved. We
expect a positive and exciting ongoing partnership. The first indication of
this is that we have been able to increase our floor space in the hotel by
around 80% and have improved our offering by bringing in the gaming equipment
from our former Medulin location. We are now in the middle of our peak season
and initial indications are that the months of August 2007 and September 2007
should meet the directors' expectations.

"The marina is performing to plan in terms of the contracted berths and we have
already passed the 100 contract mark. The Board is pleased with this
achievement as the marina was not officially opened and fully operational until
May 2007. The delay, caused primarily by the progress of the constructor, has
resulted in us falling short of our targets for overnight transit business and
in the start up of the restaurant. We are pleased to report that the restaurant
is now fully operational and in July 2007 it generated a positive contribution
ahead of our expectation. Overall, the marina is still performing below
expectation, however, but we are seeing continuous trading improvements .

"A major event for us this year is expected to be the acquisition of the "Olive
Island Resort" on the coast of Dalmatia in Croatia. As previously announced,
the Company has two option agreements, which expire on 12 September 2007, the
Company is in discussions to extend the term of these options. A further
announcement will be made in due course.

"If the Company acquires this development land, we will construct the Olive
Island Resort, a village resort comprising 126 villas and 305 apartments as
well as accompanying facilities, such as restaurants, shops, offices and a
marina (the "Villas Development"); and a four-star hotel containing 500 beds
(the "Hotel Development"). The villas and apartments will be sold, and the
hotel will be operated by the Company to generate ongoing revenue.

"Our due diligence work is underway and the Company is negotiating the terms of
acquisition. We are currently focussing on raising the requisite financing. The
exercise of the options is subject to conditions, including appropriate
consents having been granted by the government of Croatia.

"Full details of the options have previously been announced but I would like to
take this opportunity to note again that, in the event that the Company
proceeds with it, the acquisition will most likely constitute a reverse
takeover for the purposes of the AIM Rules, and will therefore require the
issue of an admission document and shareholder approval.

"We are making good progress with the two Zadar apartment projects. This dual
development of mixed residential and commercial properties has previously been
announced and we can now report that we are close to breaking ground with
construction due to start in November of this year. The Board believes that the
Company should see a benefit stream over the coming three years. We have
already provisionally agreed terms for the sale of much of the commercial
office space.

"We are aware that in order to further create sustainable shareholder value we
need to continually introduce new profitable projects and we are pleased to
report that we have an exciting pipeline of projects, details of which will be
announced in due course."

For further information please visit at www.cubuslux.com or contact:

Steve McCann [phone]
Cubus Lux plc

Simon Sacerdoti/Liam Murray [phone]
City Financial Associates Limited

Graham Herring/Josh Royston [phone]
Threadneedle Communications Limited