Issue of Equity

Feedback PLC
02 March 2007

                          Feedback plc ('the Company')

         Issue of Equity and Compulsory Conversion of Preference Shares



Feedback PLC announces that yesterday it received conversion notices from
certain holders of the Company's 10 per cent. (net) convertible redeemable
cumulative preference shares of £1 ('Preference Shares') to convert, in
aggregate 405,719 Preference Shares having a nominal paid up value of £543,405
into 2,717,025 ordinary shares of 10p each in the Company ('Ordinary Shares').
Further details regarding the Preference Share holders who have converted their
Preference Shares are set out below.



Pursuant to a block listing, granted on 28 November 2006, 2,468,329 Ordinary
Shares have been admitted to AIM. An application has been made for a further
248,696 Ordinary Shares to be admitted to AIM and it is anticipated that the
shares will be admitted to trading on AIM with effect from Thursday 8 March
2007.



Following this conversion of Preference Shares, there will be 15,099,196
Ordinary Shares in issue and 365,095 Preference Shares.  Furthermore, as a
consequence of these conversions, 75 per cent. of the holders of Preference
Shares have now exercised their right to convert their Preference Shares into
Ordinary Shares.  Pursuant to the Articles of Association of the Company, the
Company has given four weeks notice to require all holders of Preference Shares
which have not converted to compulsorily convert, from the expiry of such
notice, the whole of their holding of Preference Shares into new Ordinary
Shares.



The basis of conversion is 5 ordinary shares for every £1 in nominal amount of
preference shares.  Arrears of dividend due to holders of Preference Shares is
converted on the same basis so that 5 ordinary shares will be issued for every
£1 of arrears of dividend.  The notice will expire on 30 March 2007 at which
time the remaining Preference Shares will be converted into Ordinary Shares.



Although the Ordinary Shares to be issued on conversion will not rank for any
dividend in respect of the year ended 31 March 2007, they will rank pari passu
in all other respects with the existing Ordinary Shares.  Preference Shares
converted in 2007 will not rank for Preference Share dividends after conversion.



Assuming no further conversions during the notice period, the remaining 365,095
Preference Shares having a nominal paid up value of £502,529 will convert into
2,512,645 new Ordinary Shares and there will then be 17,611,841 Ordinary Shares
in issue.



Application has been made to AIM and it is anticipated that admission of the
2,512,645 new Ordinary Shares, arising upon compulsory conversion, to trading on
AIM will become effective and that dealings will commence on Monday 2 April.



Changes in interests



As referred to above, the Company yesterday received conversion notice from
certain Preference Share holders, as detailed below:



1.      In their capacity as trustees of the Blackman Will Settlement, David
Harding, Chairman, and John Westcott, a non-executive director, converted
235,405 Preference Shares with a nominal  paid up value of £315,645  into
1,577,325 Ordinary Shares;



2.      John Westcott and Mrs HF Westcott converted 51,000 Preference Shares
with a nominal paid up value of £68,048 into  340,240 Ordinary Shares; and



3.      the trustees of the Westcott Family Trust converted 119,314 Preference
Shares with a nominal value of £159,892 into 799,460 Ordinary Shares.



Accordingly, David Harding is now non-beneficially interested in 4,067,461
Ordinary Shares representing 26.94per cent. of the Company's current issued
Ordinary Share capital (prior to the compulsory conversion process).



In addition, John Westcott is now beneficially interested in 287,088 Ordinary
Shares representing 1.90 per cent. of the Company's current issued Ordinary
Share capital (prior to the compulsory conversion process) and non-beneficially
interested in 4,067,461Ordinary Shares representing 26.94 per cent. of the
Company's current issued Ordinary Share capital (prior to the compulsory
conversion process).



Finally, the Westcott Family Trust now holds 2,991,369 Ordinary Shares
representing 19.81per cent. of the Company's current issued Ordinary Share
capital (prior to the compulsory conversion process).



2 March 2007



Enquiries:

Charles Stanley Securities                             020 7149 6457

Philip Davies




                      This information is provided by RNS
            The company news service from the London Stock Exchange