New investment and expansion plans at Mist Tech...

5 November 2008

                                Eurovestech plc                                

                                (the "Company")                                

                                                                               
          New investment and expansion plans at Mist Technologies SA           

Eurovestech is pleased to announce that Mist Technologies SA ("Mist"), its
sound separation investee company, has completed a fundraising of €3.325
million (£2.6 million) led by a major institutional investor. Mist has also
appointed Olivier Attia as its new Chief Executive Officer.

The institutional investor has subscribed for new shares representing 27.29 per
cent. of the enlarged share capital of Mist for €3.125 million (£2.45 million).

In addition, as part of the fundraising, Eurovestech is investing a further 
€200,000 (£160,000). Following the investment, Eurovestech's holding in Mist
will be 37.8 per cent. (currently 46 per cent.). The remaining Mist shares are
held by individual investors, including the founders.

The new funds being subscribed value Mist at €11.45 million (£9 million), which
equates to three times the level of Eurovestech's investment in 2007.

The funding will accelerate Mist's development of a new generation of sound
unmixing (separation) products under its new Audionamix brand, the result of
more than five years' research and technological innovation. It will assist the
company to expand internationally, particularly in the USA.
Mist's unmixing technology for the general public is already available online
in the USA on the MixtheWeb.com website. MixtheWeb.com enables users to
synchronise online videos with music. This first online product is a
breakthrough in video and sound synchronisation.

Mr Attia, having worked with PricewaterhouseCoopers in New York, established a
track record of successful innovation. Scanbuy, Inc., which he founded and was
Chief Executive from 2000 to 2006, was named among Fortune magazine's "25
Breakout Companies" and the "Top 100 Companies in North America" by Red
Herring.

Mr Attia said "The largest global media businesses have invested heavily to
find the holy grail of sound source separation. I am happy to report that our
research team has shown the ability to make very significant advances in this
field. We have been able to develop three categories ripe for patent
application and international protections. This should give us a significant
competitive advantage in the future".

Eurovestech Chief Executive Richard Bernstein said "We have always believed
that Mist's technology has massive potential. We are delighted that one of the
leading global investment institutions has become a shareholder, which is a
vote of confidence in the company and its prospects. We remain strong
supporters of Mist's innovation and expansion strategy."

Mist has its research development centre in Paris, France and recently opened a
commercial and marketing facility in New York, USA. The company has developed a
sound separation technology, enabling mono and stereo music and film files to
be remastered into high definition surround sound.

Eurovestech                                                       020 7491 0770
Richard Bernstein                                                              
                                                                               
John East & Partners                                              020 7628 2200
Simon Clements / David Worlidge