Directorate Change

Cubus Lux plc
18 May 2007



For immediate release                                                18 May 2007


                                CUBUS LUX PLC

                        'Cubus Lux' or 'the Company'
                        
                             Board Appointments


Cubus Lux, the Croatian leisure and tourism company, announces the appointments
of Stephen McCann and Francisco Alvarez to its board of directors ('Board'). 

Stephen McCann has served as Chief Financial Officer of the Company since
joining in March 2006. From 1991 Stephen was with Viktor Achter Ltd a UK
automotive trim producer, as finance director and company secretary. Following
the acquisition of Viktor Achter Ltd by Milliken & Co, a private US Textile
company, he relocated to Germany to become finance director of the enlarged
group. He joined Viktor Achter Ltd from British Vita Plc, a polymers company in
the chemicals sector, where from 1986 to 1991 he was a senior manager covering
the roles of international accountant and financial controller and later became
assistant group treasurer.

Stephen John McCann, aged 47, was appointed as director of the Company on 8
March 2007 and is currently a director of Crvena Ruža d.o.o., Quibus Ltd, Quibus
d.o.o., Cubus Lux Gradenje d.o.o., Cubus Lux Projektiranje d.o.o., Cubus Lux
Tenis d.o.o., Cubus Lux Usluge d.o.o.. Stephen McCann currently holds 300,000
ordinary shares in the Company and has share options over a further 300,000
ordinary shares in the Company.

Francisco Alvarez joins the Board as a non-executive Director and brings with
him significant experience in financial markets, having held the position of
chief financial officer of the Valencia Stock Exchange from 1995 until 2000.
Prior to that, he worked for the Paris Bourse Stock Exchange for 23 years. As
vice president between 1992 and 1995, he was responsible for the international
relationships of the Paris Bourse having previously headed the team which
designed and implemented the current trading platform NSC  which has been
adopted by Euronext. Most recently, in 2003 Francisco set up ÉTICA Soluciones
Financieras, an independent company offering financial services to entrepreneurs
and individual investors, after a spell as deputy manager of Banco Inversion
which he joined in December 2003 to develop the bank's strategy in Spain
following its acquisition by the HVB Group.

In addition, Francisco is the author of 3 economics books, has a PhD in
electronics applied to finance (Paris Sorbonne University), an MBA from the
INSEAD (Fontainebleau) and has received the following accolades:


  •  1997 - president of the Fundacion de Estudios Bursatiles y Financieros
  •  1998 - President of the European Association of Financial Centres 
  •  2000 - he was designated as 'the economic man of the year' within 
     the Valencia region by the regional government
  •  2001 - nominated 'Chevalier de l'Ordre du Merit Civil' by the French 
     government for the activities developed to promote the French economical 
     aspects around the world.


Francisco Alvarez-Molina, aged 60, was appointed as director of the Company on 8
March 2007 and is currently a director of Etica Soluciones Financieras SA,
Gesfesa SA, Hispanet SA, Openfinance SL, Coltec SL and Allveritas Inversiones
SL.

                            Additional Information 

Save as set out above, there are no other disclosures in respect of Stephen
McCann and Francisco Alvarez that fall to be made under Rule 17 or paragraph (g)
of Schedule 2 to the AIM Rules for Companies.



For further information please contact: 

     Cubus Lux Plc
     Christian Kaiser, Director                          [phone]


     Threadneedle Communications
     Graham Herring/Josh Royston                         020 7936 9605





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