Update on Legal Proceedings

Walker,Crips,Weddle,Beck PLC
03 July 2007

                        Walker, Crips, Weddle, Beck Plc

                          Update on Legal Proceedings

Walker, Crips, Weddle, Beck Plc, the integrated financial services group,
announces that its subsidiary, Walker Crips Stockbrokers Limited ('WCSL'), has
been awarded final judgment in the High Court in legal proceedings against two
former clients, Mr. Paul Cramman FCA and Detailplain Limited, for their failure
to settle contracts to purchase securities between April and July 2005. Mr.
Cramman, a Canadian resident, is a member of the Institute of Chartered
Accountants in England & Wales. He was also a director of Detailplain Limited
with Mr Adrian Miles, who is also jointly liable for that company's
indebtedness, which amounts to USD 4.04 million before interest and legal costs.
Mr Cramman is liable for USD 4.83 million before interest and legal costs.

This judgement is only the first step in endeavouring to recover the outstanding
amount and, therefore, the Board believes it is prudent to continue with its
provision of £2.5 million, implemented in 2005, to guard against failure to
recover the debt in full.

A separate case against Robert Savill, a former associate of WCSL, which was
contingent on success in the proceedings against Detailplain, Cramman and Miles,
is now ready for trial as soon as court time can be booked.

The Board recognises fully its obligation to keep shareholders and the
regulatory authorities informed of further significant developments.


3 July 2007



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