V2 Ventures plc                                
                            ("V2" or "the Company")                            

                       RESULT OF ANNUAL GENERAL MEETING                        
                                      AND                                      
                               GRANT OF OPTIONS                                

The Company is pleased to announce that at  the AGM  held  earlier  today, all
resolutions were duly passed.

The Board also announces that each of the directors of the  Company, Mr  Peter
Holmes, Mr Daniel Edelman, Ms Michelle Wong and Mr Mike Chan has been  granted
an option over 2,286,393 ordinary shares, with an exercise price of 1.25p. The
options are exercisable for up to 5 years.

The Directors of the issuer accept responsibility for this announcement.

                                   --ENDS--                                    

ENQUIRIES:

V2 VENTURES PLC
Daniel Edelman/ Peter Holmes
+44 20 3384 3650

PETERHOUSE CORPORATE FINANCE LIMITED
Eran Zucker +44 20 7469 0932