PCX Principle Cap.

RNS Number:7972C
Principle Capital Holdings S.A.
24 August 2007


              RESPONSE TO PHOTO-ME INTERNATIONAL PLC's ANNOUNCEMENT


Cycladic Capital LLP ("Cycladic") and Principle Capital Holdings S.A., on behalf
of its subsidiary company, Principle Capital Fund Managers Limited ("Principle
Capital"), make the following announcement:


Cycladic and Principle Capital have discussed today's announcement by Photo-Me
International PLC (the "Company") with other shareholders. The announcement
fails to address shareholders' concerns about the leadership and participation
of the Chairman, Vernon Sankey, and the Chief Executive, Serge Crasnianski, at a
time when the board of directors (the "Board") will need to make key decisions
regarding the Company's strategy. In order for the strategic review process to
reach an acceptable conclusion, it is critical that shareholders trust the
Board's ability to make independent decisions regarding the future of the
Company that will be in the best interests of all shareholders.

As the resolutions now have the support of a majority (50.4%) of shareholders of
the Company's shares, Cycladic and Principle Capital urge Vernon Sankey and
Serge Cransianski to resign immediately from the Board. This will save the
Company the expense of calling an extraordinary general meeting, prevent any
disruption to the strategic review process and allow the board to make a
decision about the sale of the vending division that can be supported by
shareholders.

Cycladic and Principle Capital support the appointment of Martin Reavley, the
current Senior Independent Director of the Company, as Interim Chairman of the
Board and are confident that he and the other independent non-executive
directors will be able to:

*  stabilise the Company after the resignation of the Chairman and the Chief 
   Executive;
*  appoint competent successors in a short time frame;
*  manage the potential sale of the vending division; and
*  begin the turnaround required for future growth.


For the avoidance of doubt, contracts for difference ("CFDs") have only been
included in the support level where it is expected that those CFDs can be
effectively converted into ordinary shares and voted at an extraordinary general
meeting."

                                    - Ends -

For further information:

Bell Pottinger
Olly Scott
+44 78 12345 205

Cycladic Capital
Gijs de Reuver
+44 207 529 1865

Principle Capital
Anne Dalen
+44 207 240 3222

Numis Securities as Nominated Adviser to Principle Capital Holdings S.A.
Stuart Skinner
+44 207 260 1000


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

END
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