Transaction in Own Shares

Lupus Capital plc (the "Company") announces that yesterday, 10
January 2008, it purchased 46,725 ordinary shares from shareholders
with holdings of fewer than 9,000 shares at a price of 93.375 pence.
These shares were purchased pursuant to the buy-back authority
granted to the Company by shareholders at the General meeting on 11
December 2007 (the "Buyback Authority") and further to the Company's
proposed offer to purchase small holdings outlined in the Company
circular dated 16 November 2007.

 The 46,725 shares purchased, as disclosed above, will be held by the
Company in Treasury.  The Company has 137,211,533 ordinary shares in
issue, of which 7,393,855 are now held in Treasury.  Following this
purchase there are 129,817,678 voting ordinary shares in issue which
are not held in Treasury.

The Company expects to make similar purchases of small shareholdings
on 17 and 24 January 2008 and further announcements will be made
about these anticipated purchases in due course.

The Board considers that the recent weakness in the share price has
provided an attractive opportunity for the Company to purchase its
own shares and by buying back shares from those with small holdings
this will help increase the administrative efficiency of the Company.

The Company may also make general market purchases pursuant to the
Buyback Authority in advance of the close period before the
announcement of the Company's Annual Results.

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