Director/PDMR Shareholding

19 July 2010

                                  Corero PLC                                   

                          ("Corero" or "the Company")                          

                             Director Shareholding                             

In the announcement relating to the proposed disposal of the Financial Markets
division of the Company released on 14 July 2010, the Company stated that Mark
Robertson, Director of the Financial Markets division, intended to dispose of
his entire shareholding in the Company. Accordingly, the Company announces that
on 19 July 2010, Mr Robertson sold 153,048 ordinary shares in the capital of
the Company ("Ordinary Shares"), equivalent to 10.08 per cent. of the issued
voting share capital of the Company to Rivington Street Holdings plc ("RSH").
Following the sale, Mr Robertson no longer holds any Ordinary Shares in the
Company.

The consideration for the sale of Ordinary Shares held by Mark Robertson has
been satisfied by the issue to Mr Robertson of 291,667 ordinary shares of 1p
each in the share capital of RSH and the payment of £12,000 in cash. Based on
the closing mid-market price of the RSH ordinary shares on 16 July 2010, being
the latest practicable date prior to this announcement, of 29.5p per share, the
total consideration for the sale is valued at £98,041.77. The see through value
of the sale is, therefore, 64.06p per Ordinary Share.

As set out in the Company's announcement relating to the proposed disposal of
the Financial Markets division, Brokerhorse Limited, a wholly-owned subsidiary
of RSH, has conditionally agreed to acquire the business and assets of the
Financial Markets division. The disposal is conditional upon, amongst other
things, Rivington Street Ventures Limited assuming the liability of the Company
to £2 million nominal of its £4,000,000 8% (Part Deferred) convertible
unsecured redeemable loan stock 2015.

As set out in the Corero circular to shareholders dated 14 July 2010, Mark
Robertson will resign from the board of the Company, conditional on completion
of the disposal, and will be transferring to Brokerhorse as chief executive
officer and will also join the management team of Rivington Street Ventures
Limited to continue to manage the Financial Markets division. As a result, Mr
Robertson was deemed to have a conflict of interest for the purposes of Rule
25.1 (Note 3) of the City Code on Takeovers and Mergers ("the Code") and
therefore took no part in the deliberations of the board of the Company in
relation to the disposal. Accordingly, Mr Robertson was excluded from the
recommendation of the board and undertook to abstain from voting on the
resolutions relating to the approval of the waiver of Rule 9 of the Code,
relating to the Disposal and relating to the approval of his consultancy and
bonus arrangements which form part of the transaction and which will be put to
shareholders at the general meeting of the Company which has been convened to
take place on 6 August 2010.

Due to RSH's involvement in the disposal, RSH is similarly deemed to have a
conflict of interest. Accordingly, RSH has undertaken to abstain from voting on
the resolutions set out above at the general meeting which has been convened to
take place at 10.00am on 6 August 2010.

Enquiries:

Corero plc                                                                   
                                                                             
Peter Waller, Executive Chairman                           Tel: [phone]
                                                                             
Merchant Securities Limited (Nominated Adviser and Broker)                   
                                                                             
John East / Simon Clements                                 Tel: [phone]
                                                                             
finnCap Limited (Placing Agent)                                              
                                                                             
Sarah Wharry / Henrik Persson                              Tel: [phone]
                                                                             
College Hill                                                                 
                                                                             
Matthew Smallwood/Adrian Duffield                          Tel: [phone]