Acquisition

Judges Capital PLC
05 September 2005



                                                                5 September 2005



                               Judges Capital plc
                      ('Judges Capital' or the 'Company')


       Judges Capital acquires controlling interest in PE fiberoptics Ltd


The Directors of Judges Capital announce that, on 2 September 2005, the Company
completed the acquisition of a controlling interest in PE fiberoptics Ltd 
('PEf'), a Management Buy Out ('MBO') vehicle that will specialise in the design
and manufacture of instruments used to test fibreoptic telecommunications
cables.


PEf is a private company newly established to effect the acquisition from a US
multinational corporation (the 'Vendor') of the business, assets and goodwill of
a fibreoptic test equipment operation based in Wokingham, Berkshire for
US$100,000.


Judges Capital has invested a nominal sum in exchange for 51% of PEf's equity
and is providing loan and working capital commitments of £291,000 (of which
£250,000 is secured) from the Company's existing resources. The interests of the
key management team participating in the MBO and providing further loans of
£28,000 amount to 35%. The balance of 14% of PEf's equity is held by the Vendor.


The operation generated turnover of £1.1million and an unaudited loss before
interest, tax, depreciation, amortisation, rent, pensions and corporate charges
('Adjusted Ebitda') of £1 million for the year ended 31 December 2004. The
operation achieved historic sales of $22 million and unaudited Adjusted Ebitda
of $11 million for the year ended 31 December 2001 as a result of the 'dot com'
exuberance but subsequently experienced a drastic downturn in revenues in line
with its technology related client base. The operation was closed by the Vendor
in June 2005. The net assets purchased had a value of around £1.5 million in the
books of the Vendor.



David Cicurel, Chief Executive of Judges Capital, commented:



'We are delighted to have reached agreement with the ongoing management team in
relation to the MBO of PE fiberoptics. As stated at the time of our acquisition
of Fire Testing Technology earlier this year, the Board of Judges Capital has
identified instrumentation and testing as an area that the Directors believe
offers significant potential for growth and enhanced shareholder returns. We
have every confidence that, in partnership with PE fiberoptic's experienced
management team, led by Ian Mackenzie, Managing Director, we will succeed in
positioning the company to take full advantage of opportunities and thereby
capitalise on the acknowledged expertise inherent in the business.'



                                      Ends



For further information please contact:



David Cicurel, Chief Executive, Judges Capital:             Tel: [phone]
Alex Borrelli, Shore Capital & Corporate:                   Tel: [phone]
Melvyn Marckus, Cardew Group:                               Tel: [phone]


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