CTU Conister Tst

RNS Number:8697D
Conister Trust PLC
31 May 2006


                               CONISTER TRUST PLC
                         ("Conister" or the "Company")

                              Issue of New Shares

Conister announces the subscription of 12,000,000 ordinary shares of 25p each
("Ordinary Shares") at a price of 45p per Ordinary Share to Burnbrae Limited, a
company beneficially owned by Jim Mellon, for a total consideration of
#5,400,000. The issue and allotment of the new Ordinary Shares has been made
pursuant to the authority granted to the Directors of Conister on 12 May 2004,
at the Company's Annual General Meeting.

The proceeds of the subscription will be used by Conister to strengthen its
balance sheet, and to fund a number of new initiatives.

The total number of Ordinary Shares in issue following the allotment and issue
of the new Ordinary Shares is 40,444,143, of which Burnbrae Limited will own
12,000,000 Ordinary Shares, representing 29.7 per cent. of the issued Ordinary
Share capital of the Company.

Application will be made for the new Ordinary Shares to be admitted to trading
on AIM. Admission is expected to occur at 8am on 7 June 2006.

Conister wishes to remind shareholders that it is in advanced talks to acquire a
business which would constitute a "reverse take-over" pursuant to rule 14 of the
AIM Rules. The Company will announce further details at the appropriate time.

Enquiries:

Charlie Vivian / Polly Fergusson, Pelham PR 020 7743 6672 / 6362
Jerry Linehan, Chief Executive 01624 694 694
Matt Goode, KBC Peel Hunt 020 7418 8900




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

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