Company Update

Adamind Ltd
12 February 2007


                                Adamind Limited

                           (Adamind or the "Company")


                                 Company Update


The Company has been informed by the Financial Services Authority ("FSA") of the
appointment of investigators on its behalf under the provisions of section 168
(3) of the Financial Services and Markets Act 2000 as a result of sections 168
(2)(a) and (d) of that Act.

The Company understands that the FSA is investigating circumstances, statements
and/or behaviour occurring prior to the Company making an adverse trading
statement on 22 June 2006. The Company intends to co-operate fully with the FSA
and its investigators. The Company intends to keep the market informed as
appropriate.

The Company was in the final stages of negotiation with a strategic buyer,
Mobixell Networks Inc ("Mobixell"), and was in the process of seeking
commitments from certain of its larger shareholders to accept an offer for the
whole of its share capital. As a direct consequence of Adamind being made aware
of the existence of the FSA's investigation on 8 February 2007, Mobixell
informed the Company that it would not pursue the purchase of the whole of the
Company's share capital.

Adamind and Mobixell continue to discuss other alternatives. The parties have
today announced a strategic alliance, under which they will share technologies,
and integrate their product portfolios, and remain hopeful that a successful
outcome can be achieved.

Enquiries

Corfin Communications
Harry Chathli                                    020 7929 8989




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