RNS Number:2408Z
Adaptive Venture Managers PLC
29 July 2002

                         Adaptive Venture Managers PLC.


Adaptive Venture Managers PLC (Adaptive), the AIM listed corporate venturing
group, wishes to advise shareholders of the following developments.


Placing and Extraordinary General Meeting held on Friday 26th July 2002.


Reflecting the votes cast by proxy, shareholders approved both resolutions by
majorities of 2,514,000 and 2,492,000 equivalent to 94.5% and 93.7% of the total
votes received. As a result 4,156,728 new shares were approved for issue at 7p
per share, raising in total just under £291,000 after expenses.



Pursuant to the placing, the Company announces that it has today, applied  for
4,156,728 ordinary shares of 2p to be admitted to trading on AIM.  Dealings are
expected to commence in the new ordinary shares on Friday 2nd  August 2002.



Directors' interests.



The following directors subscribed for shares:



•      R B Rae -1,928,571 shares and now owns 1,998,571 shares equal to 10.6% of
       the issued share capital.

•      M McSwan - 145,714 shares and now has an interest in 436,714 shares equal
       to 2.3% of the issued share capital.

•      R M Muir-Simpson - 71,431 shares and now has an interest in 751,973 
       shares equal to 3.9% of the issued share capital.

•      J E Moorhouse - 72,857 shares and now has an interest in 86,537 equal to
       0.5% of the issued share.



Following the EGM and as previously announced, Mr Rae was appointed executive
chairman with Mr. McSwan remaining as a non-executive director.



Property sale and leaseback.



Contracts for the sale and leaseback of the Company's premises were signed on
18th July. Final settlement is scheduled for 31st August. At that time and after
allowing for full repayment of the loan received in 2000 to purchase the
building and transaction costs, it is anticipated that just over £330,000 will
be retained by the Company.



Client company development.



Hearing Enhancement PLC (HE), Adaptive's most established client company, has
very recently been granted an Airtime Service Provider's license by Vodafone.
This license, in conjunction with new assistive devices developed by HE, will
enable hearing aid wearers, including individuals with profound hearing loss, to
use mobile phones without suffering from the normal, disabling interference
caused by the carrier wave.

Following an extensive and encouraging market appraisal, HE will very shortly
initiate a combined test market launch of both the assistive devices and the
airtime service targeted at the hearing impaired in a major conurbation. In the
UK generally, there are just under 3.0M hearing aid wearers.

A more detailed announcement has been made by Hearing Enhancement PLC to-day.

HE shares are traded on OFEX.



Contact :


Company - Richard Muir-Simpson on 01506 - 497156.










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