DOR Doriemus

 
TIDMTEX 
 
12 November 2010 
 
                            TEP Exchange Group PLC 
 
                           ("TEP" or "the Company") 
 
                              Licence Agreements 
 
TEP is pleased to announce that it has today entered into a non-exclusive 
licence agreement with SL Investment Management Limited ("SL"), a 48.26 per 
cent. shareholder in the Company, to licence its electronic platform and all 
technology to SL. In consideration for this arrangement, the Company will 
receive a quarterly fee of GBP20,000. In addition, SL has been granted exclusive 
rights to develop and modify the electronic platform for a quarterly fee of GBP 
230,000 ("the Licence Agreement") to enable SL to put additional financial 
products on to the platform. 
 
The Licence Agreement is for a period of 10 years, however, SL may terminate 
the agreement on 30 April 2011 and every subsequent 30 April during the life of 
the contract on giving 30 days' prior written notice to TEP in the event that 
the income generated by SL from the licence in the preceding 12 months is less 
than GBP250,000. 
 
In addition, TEP Limited (the trading subsidiary of TEP) has entered into a 12 
month non-exclusive licence with SL ("the Sub-Licence") to utilise the 
electronic platform for a quarterly fee of GBP25,000. The Sub-Licence can be 
renewed annually at the sole discretion of SL. The Sub-Licence provides TEP 
Limited with access to any developments or modifications made by SL to the 
electronic platform for traded endowment policies 
 
The entry into the Licence Agreement and the Sub-Licence are related party 
transactions in accordance with AIM Rule 13. The Independent Directors, being 
George Kynoch, Moses Kraus and Abraham Weitz, consider, having consulted with 
the Company's nominated adviser, Merchant Securities Limited, that the terms of 
the transactions are fair and reasonable insofar as its shareholders are 
concerned. 
 
For further information please contact: 
 
TEP Exchange Group plc 
 
David Roxburgh                                                00 353 1 260 7746 
 
Merchant Securities Limited 
 
John East/Simon Clements                                          020 7628 2200 
 
 
 
 
 
END 
 

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