Directorate Change

Vela Technologies plc                              

                     ("Vela Technologies"or "the Company")                     

                                                                               
                                 Board Changes                                  

Vela Technologies has received notification from Adrian Moss of his decision to
step down as a Non-Executive Director of the Company with immediate effect.

The Board wishes to thank Adrian for his contributions to the Company and in
particular the assistance he gave to the smooth transition to new management
after the change in control following the recent refinancing transaction.

                                   --ENDS--                                    

FOR FURTHER INFORMATION, PLEASE CONTACT

                                                              
                                                              
Vela Technologies plc                                         
                                                              
Brent Fitzpatrick              Email: [e-mail]     
Non-Executive Director                                        
                                                              
ZAI Corporate Finance Limited                                 
                                                              
John Depasquale /John Treacy/  Tel: [phone]             
Steven Feng                                                   
                                                              
Peterhouse Corporate Finance                                  
Limited                                                       
                                                              
Eran Zucker                    Tel: [phone]             


Vela Technologies plc is a UK incorporated investment Company looking to
acquire and consolidate holdings in Small and Medium sized Enterprises (SME's)
which are active in the development of emergent technologies, hi-tech
engineering and scientific advances to expedite company growth and expansion.
As a result of the recent global financial crisis, and the ongoing period of
financial austerity, companies have become increasingly reliant on such
advances to improve profitability or efficiency. These technologies are
applicable across a wide range of sectors including anything from Oil & Gas E&
P, eCommerce to Aviation. Early acquisition of such innovative technologies
should provide the opportunity to optimise returns for Shareholders.