Directorate Change

Cubus Lux plc
19 July 2005



                                 CUBUS LUX PLC

                                 Board changes

                              Directors' dealings


Board changes

Cubus Lux Plc ('Cubus' or the 'Company') are pleased to announce the appointment
of Mr. Gerhard Huber (aged 45) and Mr. Michael Martin Janssen (aged 39) as
executive chairman and non-executive director respectively.

Gerhard Huber brings with him many years of experience in banking, real estate
development and tourism in Croatia. Michael Janssen brings with him years of
experience in financial management and investor relations.

As part of these appointments, Moshe Har Adir has stepped down from his position
as executive CEO and director. Haggai Ravid has stepped down as interim chairman
and will remain a non-executive director.

Mr. Gerhard Huber commented - 'I am pleased to have the opportunity to bring in
my expertise to Cubus with our aim of growing it into the premier tourism
company in Croatia.'

Details on directors

Gerhard Huber

Current directorships
Xelector Ltd

Past directorships
GSX Leisure Limited - a company which was put into liquidation.

Michael Janssen

Current directorships
FAS AG
Cryptovision GmbH
VC on Target GmbH

Past directorships
None

There are no further disclosures required to be made in respect of Mr. Huber and
Mr. Janssen with regard to paragraph (g) of Schedule 2 of the AIM Rules.

Directors' dealings

In conjunction with the board changes Mr. Har Adir has entered into an agreement
to sell 9,878,763 ordinary shares, representing approximately 44.7% of the
issued share capital of the Company to various entities and individuals,
including Mr. Huber and Mr. Janssen.  Completion of this share sale is due to
take place on 22 July 2005, following which Mr. Huber and Mr. Janssen's
interests in the Company will be as follows:

                                   Number of shares    % of issued share capital

Gerhard Huber                      2,160,763           9.5%
Michael Janssen                    1,564,000           6.8%


The Company is not currently subject to the City Code on Takeovers and Mergers.

For information contact:

Graham Herring
Threadneedle Communications - 020 7531 2620

Olly Cairns
Corporate Synergy Plc - 020 7626 2244


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