Company Update

Adamind Ltd
14 November 2007


14 November 2007

                                Adamind Limited
                          ("Adamind" or the "Company")

                                 Company update

The Board of Adamind today updates the market on its forthcoming plans to return
monies to the Company's shareholders.

As of 31 October 2007, the Company had $24,297,747. In addition, an amount of
$550,000 is held in escrow pursuant to the agreement for the sale of the
Company's assets to Mobixell. This amount will be released from escrow in April
2008 (assuming no claims are made against such release under the agreement with
Mobixell).

The Company is preparing a motion to be submitted to an Israeli court for the
distribution of cash to the shareholders. The Company will request the court to
authorize the first distribution of approximately $22 million (representing
approximately 90% of the cash) to the shareholders. The Company expects the
first distribution to be consummated during Q1 2008, with the remainder of the
cash to be distributed as soon as possible thereafter.

The Company will continue to keep the market abreast of any changes or
developments to this timetable.


Enquiries:

Adamind
Orna Berry, Executive Chairperson                       [phone]

Corfin Communications
Neil Thapar, Harry Chathli                              [phone]

Landsbanki Securities, Nominated Adviser
Simon Bridges                                           [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange