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XL TechGroup, Inc. (XLT)

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Tuesday 13 September, 2005

XL TechGroup, Inc.

AgCert trading update

XL TechGroup, Inc.
13 September 2005


Press Release                                                  13 September 2005



                               XL TechGroup Inc.


                        ('XL TechGroup' or 'the Group')


        XL TechGroup company AgCert International issues trading update
                           and announces board change



XL TechGroup company, AgCert International plc ('AgCert'), has today issued a
trading update advising that there will be a delay in achieving its inventory
and sales targets for 2005 and 2006.  AgCert has also advised that Alan Tank has
ceased to serve in any of his positions at AgCert, including Chief Executive
Officer.  Bill Haskell, non-executive Director of AgCert, has been appointed
interim CEO, pending the appointment of a new Chief Executive.  These changes
will take place with immediate effect.



Dr John Scott, CEO of XL TechGroup, said:  'While the developments at AgCert are
clearly disappointing, these are purely operational problems of a short-term
nature, and the impact on expected results at AgCert is principally a matter of
timing.  There are no questions about either the size or the quality of the
existing order book for AgCert's credits, and a number of performance indicators
used by AgCert's management to monitor progress have exceeded their
expectations.  AgCert is a global leader in its field and its underlying
technology is sound.  It continues to see strong demand for its services in a
market where prices for credits continue to rise.  Our commitment to AgCert is
unchanged and we remain committed shareholders.'



                                    - Ends -



For further information:
XL TechGroup Inc.
John Scott / Harold Gubnitsky                                                        Tel: +1 321 409 7403
[email protected]                                                                   www.xltechgroup.com



XL TechGroup media enquiries:
Abchurch Communications
Heather Salmond / Chris Munden                                                  Tel: +44 (0) 20 7398 7700
[email protected]                                                 www.abchurch-group.com





NOTES TO EDITORS



About XL TechGroup



XL TechGroup identifies unmet market needs in the Biotech, Ecotech and Medtech
sectors and then systematically creates and develops successful disruptive
technology businesses to exploit these needs.  The Company has developed a
unique proven method to rapidly bring companies from inception to liquidity,
matching unexploited IP from a group of technology partners to the identified
unmet market need.  XL TechGroup employs its own predictive algorithm to ensure
the market will rapidly adopt the identified solution and then moves to scale
the company specifically created to exploit the opportunity.



Before forming XL TechGroup, the management team created substantial value for
shareholders over a twelve year period, successfully exiting six technology
businesses at an average market valuation of approximately US$500 million.



The listing of the first company created under the XL TechGroup banner, AgCert
International, continues to validate the systematic approach to value creation.



•         AgCert International was created by XL TechGroup in May 2002 and is a
global leader in the production and sale of agriculturally derived greenhouse
gas emission reductions, with business in Europe, Asia, North America and South
America.  AgCert was listed on the London Stock Exchange on 8th June 2005 with
an initial market cap of approximately £215 million.  XL TechGroup maintains a
27.2% interest in AgCert.  www.agcert.com



The second and third companies in the new generation of XL TechGroup businesses
are:



•         TyraTech LLC, which was created by XL TechGroup in July 2004, is
developing a new class of highly effective, non-toxic pesticides using cloned
insect chemoreceptors, based on approved, safe, natural oils.  Its development
is progressing rapidly and TyraTech, which is 66.7% owned by XL TechGroup, is
expected to be earning its first revenues by the end of 2005.  www.tyratech.com



•         DxTech LLC was created by XL TechGroup in July 2005, and is developing
a unique micro-fluidic platform that replaces essentially all biological tests
currently performed at reference laboratories with a fully-automated,
point-of-care device.  This technology has applications in significantly
lowering costs and increasing efficiency for major pharmaceutical companies in
their clinical trials, the provision of diagnostics in developing countries and
delivering a new revenue stream for doctors in the USA.  DxTech is currently
100% owned by XL TechGroup.



XL TechGroup has several other opportunities already at an advanced stage in its
business creation pipeline.



For further information, see www.xltechgroup.com




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

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