DOR Doriemus

    14 March 2007

                            TEP Exchange Group PLC                             

                           ("TEP" or the "Company")                            

                Result of EGM, result of Open Offer and Placing                

The directors are pleased to announce that at the extraordinary general meeting
("EGM") held earlier today, all resolutions proposed were duly passed.

The circular to shareholders dated 16 February 2007 (the "Circular") contained
details of a conditional Placing and Open Offer of 175,456,573 New Ordinary
Shares at 0.2p per share.

As at the closing of the Open Offer at 11.00 a.m. on 12 March 2007 applications
had been received as follows:

                                        No. of Offer Shares                 �
                                                                             
Number of Offer Shares available                 99,797,077        199,594.15
                                                                             
Total Offer Shares applied for                   51,837,844        103,675.69
                                                                             
Percentage of Offer Shares taken up                  51.94%                  

Accordingly, and in addition to the 51,837,844 New Ordinary Shares issued under
the Open Offer, the Company has issued 123,618,729 ordinary shares to certain
shareholders and other investors, 75,659,496 of which were placed firm and the
remainder of which were placed subject to clawback in respect of the Open
Offer.

The Company has made application for these shares to be admitted to trading on
AIM and dealings are expected to commence on 15 March 2007.

Therefore, the Company has issued a total of 175,456,573 New Ordinary Shares at
0.2p per share. Pursuant to the completion of the Placing and Open Offer and
the Capital Reorganisation, following admission of the new ordinary shares, the
Company will have a total of 399,999,999 ordinary shares of 0.01p each in
issue.

Definitions used in this announcement shall have the same meaning as given in
the Circular.

For enquiries:

TEP Exchange Group PLC                                                       
                                                                             
George Kynoch                                                    07860 743425
                                                                             
John East & Partners Limited                                                 
                                                                             
John East/Bidhi Bhoma                                           020 7628 2200



END

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