Amazing Holdings plc Issue of £5,000,000 12.9% Convertible Secured by yxx13897


									25 April 2008
                                  Amazing Holdings plc

           Issue of £5,000,000 12.9% Convertible Secured Loan Stock 2011

Amazing Holdings plc ("Amazing" or “the Company") announces the issue at par of
£5,000,000 12.9% Convertible Secured Loan Stock 2011 (the "Loan Stock"). The
proceeds of the offering are to be applied to pre-development costs associated with the
Company’s land holding in the Penghu Islands, Taiwan.

Following this offering, the Company will also repay its loan facility agreement with
Bayside Development Corporation Limited in full.

The Kuomintang (KMT) party, which recently consolidated power in Taiwan following
the presidential elections on 22nd March 2008, and achieved a majority in the Legislative
Yuan elections on 12th January 2008, has announced that one of its legislative proposals
will include an amendment to the Remote Islands Act, which would legalise gaming in
Taiwan and designate the Penghu Islands as a jurisdiction for casino licences.

Amazing believes that, with its substantial 27-acre land holding on Penghu and gaming
expertise, it is well positioned to take advantage of the revised legislation, as and when
this is implemented. The issue of the Loan Stock provides the Company with the
working capital to progress its strategy and continue developing the plans for its land on
Penghu, in line with legislative developments over approximately the next eighteen
months, by which time the Company hopes to be in a position to commence construction
of the luxury resort development.

Principal terms of the Loan Stock are:

•   it will carry interest at the rate of 12.9% per annum payable quarterly;
•   it is repayable at any time by the Company and in any case not later than three years
    from the date of the Trust Deed, subject to exercise of the conversion right by the
    holder of the Loan Stock at any time;
•   it is convertible at any time into Ordinary Shares of £1 each (“Shares”) on the basis of
    100 Shares for each £150 in nominal amount of Loan Stock, subject to adjustments
    consequent on share reorganisations;
•   should gaming not have been legalised by the Government of the Republic of China
    effective no later than one year from the date of the Trust Deed, the conversion price
    shall be adjusted on the first anniversary to 100 Shares for each £140 in nominal
    amount of Loan Stock;
•   holders can elect for repayment of the Loan Stock after 18 months from the date of
    issue; and
•   the Shares issued on conversion of the Loan Stock will be credited as fully paid and
    rank pari passu in all respects with the existing issued Shares.
Michael Treanor, incoming CEO of Amazing, and Larry Woolf, a Director, have each
subscribed for £100,000 of Loan Stock.


Jonathon Brill/Caroline   Financial PR          Tel: +44(0) 207 831 3113
Financial Dynamics

Matthew Robinson /        Nominated Adviser     Tel: +44(0) 20 7600 1658
Charles Cunningham


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