AIM Admission

Immersion Technologies Intl PLC
12 April 2007


12th April 2007

                    Immersion Technologies International plc
                            ('ITI' or the 'Company')

                    Admission to AIM - First Day of Dealings


The Admission:

  • ITI, the audio technology company, (formerly St James's Energy plc)
    announces the completion of its admission to AIM and that trading in its
    ordinary shares commenced at 8.00am today.

  • ITI will utilise the cash resources now at its disposal to finance the
    commercialisation of its high performance electrostatic loudspeakers and
    award-winning conventional cone loudspeakers.

  • Nabarro Wells & Co. Limited is the nominated adviser to ITI.

  • The ordinary shares of ITI have today been consolidated on the basis of
    seven old St James's Energy plc shares for one new ITI ordinary share.

  • Following admission, ITI's share capital consists of 213,419,614 ordinary
    shares with voting rights.  This figure may be used by shareholders as the
    denominator for the calculations by which they will determine if they are
    required to notify their interest in, or a change to their interest in, ITI
    under the FSA's Disclosure and Transparency Rules.

  • A further 11,450,000 ordinary shares (representing approximately 5.1% of
    the enlarged share capital) will be issued to shareholders of Immersion
    Technology International plc ('Immersion') when those outstanding
    shareholders accept the offer made to them by the Company ('the Offer'), or
    when ITI exercises its rights under sections 428 to 430F (inclusive) of the
    Companies Act 1985, as amended, to acquire compulsorily any remaining
    Immersion ordinary shares.  Following admission, the Offer is unconditional
    in all respects and will remain open for acceptances until 1pm (London time)
    on Friday 20 April 2007.


Chris Lambert, Chairman, said:

'Immersion's audio technology is highly impressive, as is its management team.
We are therefore ideally placed to exploit a significant market opportunity, on
a global basis.  With revenues already flowing from the company's first product
order, and with capacity to build on this platform, we can look forward to the
future with a considerable degree of optimism.'


Craig Evans, Chief Executive, said:

'We are very pleased to commence life as a listed company.  We welcome our new
investors and look forward to an exciting future together.  The simple fact is
that the consumer electronics market is looking for a provider of high quality
sound to match the advances made in visual technology.  We believe that
Immersion can fill that gap.  Given that Nakamichi have already placed a
significant order, and that several other large global players are extremely
enthusiastic about our audio technology, our confidence is well founded.'


For further information please contact:

Immersion Technologies International plc
Craig Evans, Chief Executive                              [phone]
Blair Snowball, Finance Director                          [phone]

Nabarro Wells & Co. Limited
Hugh Oram /  Anthony Rowland                              [phone]

Pelham Public Relations
Archie Berens / Hugh Barker                               [phone]


Information on ITI

•    Immersion is an audio technology company with patented and patent pending 
     technologies relating to both its high performance electrostatic
     loudspeakers (''ESL'') and award-winning conventional cone loudspeakers 
     (''CCL'') (herein referred to as 'Immersion Technology').

•    The Immersion Technology has been researched and developed for over 10 
     years and has been designed with the intention to provide the highest
     possible audio reproduction characteristics and set a new standard to 
     benchmark these characteristics.  Immersion has achieved what the Immersion 
     Directors consider to be a new level of high definition acoustics and has 
     made an application to register the trade marks, HD-A(TM) or High 
     Definition - Acoustics(TM), to reflect this standard internationally.

•    The Immersion Technology reduces audio distortion to extremely low levels 
     thus enhancing clarity without compromising volume in both ESL and CCL
     loudspeakers.

•    Immersion has the ability to manufacture ESL devices in thin, small
     aesthetically pleasing designs.  In addition, the technology is proven to 
     be scalable and can be incorporated into speakers of almost any size or 
     shape. The Immersion Directors believe that these factors will provide a 
     significant marketing advantage in the competitive market for audio 
     reproduction devices.

•    On 22 December 2006, Immersion signed a 3 year manufacture and supply 
     agreement for the supply of audio speaker products with a premier
     audio-visual and multimedia equipment provider Nakamichi Corporation Ltd. 
     The contract specifies a delivery schedule for one particular product range 
     whereby Nakamichi indicates that it may order US$12.1 million during the 
     first two years, with a minimum order quantity of US$5.5 million during the 
     same period. It is also expected that Nakamichi will commission further 
     products from Immersion.

•    Immersion has also signed licence agreements for the use of the Immersion 
     Technology with Alpine Electronics of UK Limited, a leading supplier of 
     mobile media systems, and with BSS Audio Limited, a Harman International
     group company. Harman is a worldwide leader in the manufacture of high 
     quality, high fidelity audio and electronic products for automotive 
     consumer and professional use.

•    The Immersion Technology has already achieved industry recognition and 
     awards, for example, at the 2006 and 2007 Consumer Electronics Show in Las
     Vegas and the Sound and Image Awards in 2004 in Sydney.


                                    - ends -


Nabarro Wells & Co. Limited ('Nabarro Wells') which is authorised and regulated
by the Financial Services Authority, are acting exclusively for the Company and
no-one else in connection with the Admission and will not regard any other
person (whether or not a recipient of this document) as its customer or be
responsible to any other person for providing the protections afforded to their
customers nor for providing advice in relation to the transactions and
arrangements detailed in this document. Nabarro Wells' responsibilities as the
Company's nominated adviser under the AIM Rules are owed solely to the London
Stock Exchange and are not owed to the Company or to any Director or to any
other person in respect of his decision to acquire shares in the Company in
reliance on any part of this document. Nabarro Wells is not making any
representation or warranty, express or implied, as to the contents of this
document.

The Company has issued an Admission Document in connection with the admission of
its ordinary shares to trading on AIM.  Copies of the Admission Document are
available free of charge to the public on any weekday during normal office hours
(Saturdays, Sundays and public holidays excepted) at the offices of Nabarro
Wells, at Saddlers House, Gutter Lane, London EC2V 6BR and at the registered
offices of the Company at 5th Floor, 22 Arlington Street, London SW1A 1RD until
at least one month from the date of this announcement.


                      This information is provided by RNS
            The company news service from the London Stock Exchange               MLGNZM