FSA discontinue investigation

Adamind Ltd
22 October 2007

                                Adamind Limited

                          ("Adamind" or the "Company")





             Company update on discontinuation of FSA investigation



Further to previous announcements, the Company provides an update on the
Financial Services Authority ("FSA") investigation under Sections 168 (2) (a)
and (d) of the Financial Services and Markets Act 2000.



The FSA has informed the Company that it has decided to discontinue the
foregoing investigation and has no present intentions of taking action against
the Company or its officers in relation to the matters underlying such
investigation. Following completion of the investigation, it remains the Board's
plan to return to the Company's shareholders the cash held by the Company as
soon as legally feasible.



Enquiries


Adamind
Orna Berry, Executive Chairperson                       [phone]


Corfin Communications
Neil Thapar, Harry Chathli                              [phone]

Landsbanki Securities, Nominated Adviser                [phone]
Simon Bridges










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