Issue of Equity

Cubus Lux plc                                 

                        ("Cubus Lux" or the "Company")                         

                                Issue of Equity                                

Cubus Lux, the Croatia-focused leisure resort operator and developer, announces
that it has agreed to issue 3,211,756 ordinary shares of 10p each in the
capital of the Company ("Shares") at a price of 40p each. Application has been
made for admission of these Shares to AIM, and this is expected to become
effective on 18 March 2009. The net proceeds of the issue of equity will be
applied towards reducing certain bank borrowings of the Company associated with
the marina in Sutomiscica (with a commensurate interest charge reduction) and
for general working capital purposes.

Of these Shares, 1,188,878 these Shares are to be issued to Dodge Private
Equity Limited, a company in which Gerhard Huber (the Chairman of Cubus Lux) is
interested, and a further 1,188,878 are to be issued to Phoenix Holdings
Limited, a company in which Christian Kaiser (a director of Cubus Lux) is
interested.

Accordingly, the issue of these 2,377,756 Shares constitutes a related party
transaction (the "Related Party Placing") as defined in the AIM Rules for
Companies. Where a company whose shares are quoted on AIM enters into such a
transaction, the requirement is for those directors of the company who are
independent of the transaction to consider, after consultation with the
company's nominated adviser, whether the terms of the transaction are fair and
reasonable insofar as the company's shareholders are concerned.

The independent directors (being all of the directors with the exception of
Gerhard Huber and Christian Kaiser), having consulted with Dowgate Capital
Advisers Limited, consider that the terms of the Related Party Placing are fair
and reasonable insofar as the shareholders of the Company are concerned.

Following this issue of shares, the shareholdings of the directors are as
follows:

                                      Number of  Percentage of       Options
                                       ordinary ordinary share              
                                         shares     capital in              
                                                         issue              
                                                                            
Gerhard Huber                         3,130,861         17.51%       200,000
Christian Kaiser                      2,251,604         12.60%       100,000
Michael Janssen                         460,688          2.58%       100,000
Leon Nahon                               61,466          0.34%       100,000
Steve McCann                             30,000          0.17%       130,000
Eli Abramovich                           24,000          0.13%       100,000
Francisco Alvarez                             -             -%             -

Following this issue of shares, the shareholdings of significant shareholders
(ie holders of more than 3 per cent.) are as follows:

                                                    Number of  Percentage of
                                                     ordinary ordinary share
                                                       shares     capital in
                                                                       issue
                                                                            
Milan Kotur                                         1,297,754          7.26%
Allveritas Inverciones SA                           1,081,428          6.05%
Kling GmbH                                          1,140,000          6.38%
Xavier Azalbert                                       574,467          3.21%

Following this issue of shares, and in conformity with the Financial Services
Authority's Disclosure and Transparency Rules, Cubus Lux gives notice that its
voting capital consists of:

 Ordinary Shares     Nominal Value                          Ordinary Shares  
                                                           held in Treasury  
                                                                             
    17,876,122            10p            £1,787,612.20             -         

As Cubus Lux does not hold any ordinary shares in Treasury, its total number of
voting rights equals its capital.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, Cubus Lux under the FSA's
Disclosure and Transparency Rules.

For further information please see www.cubuslux.com or contact:

Steve McCann
Cubus Lux plc
[phone]

Simon Sacerdoti/Liam Murray, Nominated Adviser
Dowgate Capital Advisers Limited
[phone]

Claire Louise Noyce/Stephen Austin, Broker
Hybridan LLP
[phone]

Pam Spooner
City Road Communications
[phone]
[phone]