Trading update - Wimbledon Studios Limited

5 August 2014

                            Panther Securities PLC                             

                   ("Panther", the "Company" or the "Group")                   

                  Trading update - Wimbledon Studios Limited                   

It is with regret that the Company reports that administrators from KPMG LLP
were appointed today to resolve the financial issues of our tenant and
associate investment Wimbledon Studios Ltd ("Wimbledon Studios").

Panther, as an investor, originally subscribed £150,000 for 25 per cent of the
original start-up share capital of Wimbledon Studios, as well as providing
working capital loan facility of £622,000, which was fully drawn down at
today's date. The investment was fully written down and all but £220,000 of the
loan was provided against in the accounts for the year ended 31 December 2013.

The Group was also the landlord of the Studio property and assisted the
Wimbledon Studios business by not collecting rent and lease payments for
fixtures. At today's date, the Group is owed £1,641,000 by Wimbledon Studios
regarding these rental payments, of which £1,485,000 was provided within the
accounts for the year ended 31 December 2013, leaving remaining exposure £
156,000.

Therefore the total unprovided debt to the Group is currently £376,000.

Despite the Board of Panther being of the opinion that it could not provide any
additional financing, Andrew Perloff, Chairman of Panther, personally loaned
Wimbledon Studios additional finance of £250,000 as he believed the business
still had some chance of survival through possible further outside investment
or the sale of the business as a going concern.

Panther, who are a long term supporter of small businesses, has taken the view
that it has a moral duty to smaller businesses and, as such, is prepared to
support a slower close down process via administration, rather than a forced
liquidation, which would result in lower costs to Panther. This slower close
down will give the many small businesses in the media village time to prepare
and find alternative premises.

The Group has lost significant funds on its corporate investment and loans to
Wimbledon Studios, however, the majority of this was provided against in the
accounts for the year ended 31 December 2013. The Company expects that it will
suffer a further loss of between £376,000 (not provided against above) to circa
£600,000 in the current financial year, depending on the success of the
administration of Wimbledon Studios.

The Group continues to hold the property from which Wimbledon Studios has
traded and is looking into other options for the site, including the two
interested parties, mentioned in the announcement dated 29 July 2014.

Finally, the Group would like to thank David Smith, who was previously the
financial controller of Wimbledon Studios, who has taken the responsibility and
become a Director to assist the trading business close down in the least
harmful manner. This has shown true loyalty to the various affected parties
including the media village and studio employees, considering the sudden
resignation of the previous managing director.

A further announcement will be made in due course.

Enquiries:

Panther Securities PLC                                                         
Andrew Perloff - Chairman                                    Tel: [phone]
Simon Peters - Finance Director                                                
                                                                               
Sanlam Securities UK Limited (Nominated Adviser and Broker)                  
David Worlidge/Virginia Bull                                 Tel: [phone]