Acquisition

Braveheart Investment Group plc
05 April 2007

5 April 2007

                        Braveheart Investment Group plc
                         ('Braveheart' or the 'Group')

                         Acquisition of WL Ventures Ltd

Braveheart (AIM:BRH), the technology commercialisation and investment management
company, announces that it has acquired 100% of the share capital of WL Ventures
Ltd ('WLV'). WLV is an investment business which has a portfolio of minority
holdings in a number of privately held technology companies. The consideration
for the purchase consists of an undisclosed initial sum, with a secondary
payment being made on the basis of equal sharing of the proceeds from investment
realisations.

WLV was set up by West Lothian Council in 1998 with the objective of investing
equity in early stage technology companies based in the West Lothian area. Since
then, WLV and its sister company, West Lothian Venture Fund Ltd, have invested
£2.4m in such businesses, and the portfolio now comprises ten investments. West
Lothian Venture Fund transferred its investments to WLV earlier this year.

Braveheart will take on the management of the portfolio companies and will
consider providing follow-on funding, where it believes it can create value. It
will also use its network of high net worth entrepreneurs to support the
portfolio companies as they grow. As part of the transaction, WLV has been
renamed Caledonia Portfolio Ltd.

Commenting on the acquisition, Chief Executive of Braveheart, Geoffrey Thomson,
said, 'One of the reasons for floating Braveheart was to enable us to acquire
quality portfolios where there is an opportunity for Braveheart to utilise its
expertise and financial resources to add value and help companies grow.
Although, this acquisition is relatively small, we now have over 30 companies in
our diverse and growing portfolio. We are pleased to have been able to structure
the transaction in such a way that West Lothian Council will benefit from any
increased value created in the Caledonia portfolio.

'Through this acquisition the companies in the Caledonia portfolio will have
access to both managerial and corporate support and potential follow-on equity
funding, where appropriate. This will enable them to accelerate the
technological R&D and commercialisation programmes.'

Jim Dickson, Director of West Lothian Council, added, 'We established WLV to
nurture enterprise and we are delighted that Braveheart has acquired the
portfolio to support the companies in their next stage of growth. Braveheart's
expertise in this field will undoubtedly add value to the portfolio and we are
delighted that our new small loans fund will be benefiting in the form of
proceeds from any realised investments in the portfolio.'

A selection of the portfolio is as follows:

Ectopharma Ltd: A company who is developing therapeutic pesticides for
conditions including the treatment of human head lice. Braveheart recently led a
round of funding into EctoPharma, for a sum of £2 million.

Scalar Technologies Ltd: A leading supplier of innovative optical metrology
systems for industrial applications.

Bloxx Ltd: This company has developed a range of purpose designed internet
filtering appliances for the workplace.

Pentland Systems Ltd: A high performance signal acquisition solution provider
for military computer systems.

For further information, please contact:

Braveheart Investment Group                 Tavistock Communications
Geoffrey Thomson                            Richard Sunderland
Chief Executive                             Rachel Drysdale
Simon Hudson

Tel: [phone]                          Tel: [phone]
                                            [e-mail]




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