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XL TechGroup, Inc. (XLT)


Tuesday 16 January, 2007

XL TechGroup, Inc.

TyraTech appointments

XL TechGroup, Inc.
16 January 2007

Press Release                                                    16 January 2007

                               XL TechGroup, Inc.
                       ('XL TechGroup' or 'the Company')

                   TyraTech appoints CEO and retains advisers

XL TechGroup (AIM: XLT), the systematic architect and builder of an ongoing
stream of high value new companies, announces that its portfolio company,
TyraTech LLC ('TyraTech'), has appointed R. Douglas Armstrong, Ph.D. as
permanent Chief Executive Officer with immediate effect.  TyraTech is the
developer of an entirely new class of natural, safe and effective insecticides
and parasiticides, based on its proprietary discovery platform.

Dr. Armstrong has over 20 years' experience in the assessment and development of
biotechnologies, as well as in-depth corporate management experience at public
and private biotechnology, medical device and developmental research companies.
Prior to his appointment at TyraTech, Dr. Armstrong was CEO and Chairman of
Aastrom Biosciences Inc., a cell therapy company which he led from start-up,
through development, and on to a public offering on NASDAQ.  Dr. Armstrong is a
graduate in Chemistry from the University of Richmond, Virginia and he also
holds a Ph.D. in Pharmacology & Toxicology from the Medical College of Virginia,
at Virginia Commonwealth University.

Rick Brenner, an Executive of XL TechGroup and interim CEO of TyraTech since the
company's formation, will remain on the TyraTech Board as an Executive Director
to provide continuity.  This is a part of XL TechGroup's proven strategy whereby
a limited number of high-value opportunities are first developed by highly
experienced individuals from within XL TechGroup, before being scaled up by
their own dedicated management, with the ongoing support of XL TechGroup.

TyraTech has also appointed Nomura Code Securities Limited and Jefferies
International Limited as advisers.

John Scott, CEO of XL TechGroup, said: 'It is critical for us to choose the best
possible management to take TyraTech onto its next exciting phase.  In Doug
Armstrong we have found a person with significant skills in strategic planning
and business development, together with a deep understanding of how to leverage
technology to grow revenues and profitability.  TyraTech is entering an exciting
growth phase, and we expect to make further announcements of other senior
management additions in early 2007.'

                                    - Ends -

For further information:
XL TechGroup Inc.
John Scott / Harold Gubnitsky                              Tel: +1 321 409 7403
[email protected]                               
Chris Munden, Director of Investor Relations          Tel: +44 (0) 20 7398 7720
[email protected]

XL TechGroup media enquiries:
Abchurch Communications
Heather Salmond / Gareth Mead                         Tel: +44 (0) 20 7398 7700
[email protected]             


About XL TechGroup

XL TechGroup is in the business of significant value creation.  Working with
major international corporate and technology partners such as AES, Procter &
Gamble and leading universities, XL TechGroup first identifies global unmet
market needs and then targets and exploits these by the systematic creation of
successful, disruptive technology businesses.  These are built from scratch, and
are then funded and developed by XL TechGroup through to the point of a trade
sale or a stock market listing.

XL TechGroup's unique and proven methodology selects the best opportunities in
order to create one-to-two new companies annually, where each company is
expected to achieve a valuation of at least US$400 million within four years
from its creation.  While an XL TechGroup company might perform a stock market
listing at an earlier point in this four year timeframe, XL TechGroup would
retain its controlling interest and would continue to assist with the company's

XL TechGroup's companies to date are: AgCert International plc (,
TyraTech LLC (, DxTech LLC (, PetroAlgae LLC and
QuoNova LLC.

XL TechGroup has also established GenXL LLC as a joint venture to capture the
value of those prospects that do not quite meet the US$400 million, four year
criteria but still demonstrate considerable potential worth.  Over and above XL
TechGroup's core business model, GenXL will review a significant flow of
opportunities from both XL TechGroup and GEN3 in order to generate new
companies, standalone product lines and technology licensing opportunities or an
appropriate mix of these.

For further information, see

About TyraTech LLC

TyraTech LLC, which was created by XL TechGroup in July 2004, is developing a
new class of highly effective, non-toxic pesticides and anti-parasitic
compounds, using its cloned insect and parasite chemoreceptor screening process.
TyraTech, which is 64.8% owned by XL TechGroup, is continuing development of
new product applications based on safe, natural ingredients with a broad range
of partners around the world.

                      This information is provided by RNS
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