AXU Abraxus Inv.

RNS Number:4955G
Abraxus Investments PLC
20 July 2006

                    Abraxus Investments PLC ("the Company")

                               Sale of Subsidiary


20 July 2006

The Company is pleased to announce that the disposal of its wholly owned
Hungarian subsidiary, First AB Kft has now been completed.

The Company confirms that it has received gross proceeds of #1,053,762 from the
successful bidder, Real Asset Holdings Ltd. After deducting selling costs of
#20,662, the net proceeds from the sale total #1,033,100, representing a profit
on disposal of #8,256.

In addition to the sale proceeds, the Company can confirm that it has received
full repayment of the 866,238 Euros loan made to First AB kft.

As previously announced, following the disposal, the Company which will be an
investing company as defined under the AIM Rules, will enter into discussions
with its main shareholders to seek their input into any return of cash to
shareholders.

The Company currently has a cash balance of approximately #1.65m equivalent to
4.8p per share.

The Company has changed its registered office address to 118 Piccadilly, London,
W1J 7NW with immediate effect.



Enquiries:

Alex Borrelli (Shore Capital)                                   020 7408 4090




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