Directorate Change

Adamind Ltd
28 September 2007


28 September 2007

                                Adamind Limited
                                (the "Company")

                               Directorate Change


The Company announces that in conjunction with the ongoing cost-reduction in
operations, Mr Shailendra Jain's service as chief executive of the Company has
been terminated with immediate effect. The termination is in accordance with the
terms of his employment termination agreement.

Mr Jain will remain a member of the Board of Directors of the Company to
generally assist with the distribution of Company funds to shareholders and the
winding down of its affairs.

Dr. Orna Berry, Executive Chairperson of Adamind, said: "The Board would like to
thank Shailendra for his professionalism and the tremendous efforts he has put
into the Company. This change is part of the ongoing cost reductions in the
company's operations. The board looks to complete the total wind-down as soon as
possible"

Enquiries:
Adamind
Dr. Orna Berry, Executive Chairperson                   [phone]

Corfin Communications
Harry Chathli, Neil Thapar                              [phone]

Landsbanki Securities, Nominated Adviser
Simon Bridges                                           [phone]




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