XL TechGroup Announces Initial Public Offering; Common Stock Trading On London AIM Exchange

MELBOURNE, Fla. & LONDON--()--Oct. 12, 2004--XL TechGroup, which specializes in developing technology companies and bringing new technologies to market, today announced the initial public offering of 15,333,333 shares of its common stock on the London Stock Exchange. XL TechGroup shares began trading on the AIM (Alternative Investment Market) exchange this morning, under the ticker symbol "XLT", at 150 pense ($2.67 US) per share.

The IPO placing raises approximately GBP 22.6 million ($40.3 million US) before expenses for XL TechGroup, valuing the company at approximately GBP 72.6 million ($129.4 million US).

The offering is being managed by Code Securities Limited which is acting as financial adviser and joint broker to XL TechGroup. Altium Capital Limited is acting as underwriter, nominated adviser and broker to the company.

"We are pleased to see the international investment community's appreciation of our company's expertise, which has enabled us to raise these funds from institutions of the highest quality," said Dr. John Scott, Chairman and CEO of XL TechGroup. "This offering will certainly enable us to continue our efforts to develop more large-scale innovative technology companies in the future and create additional new jobs in Central Florida."

XL TechGroup

XL TechGroup, LLC (AIM:XLT), based in Melbourne, Florida, is a unique company creation and development business focused on identifying unmet market needs, matching dynamic new technology solutions, and building successful businesses that transform markets, primarily in the life sciences and technology sectors. Its most advanced businesses are AgCert International, LLC, a company involved in the creation of carbon emission credits from agriculture, and BioPesTech, LLC, which is developing a new class of non-toxic pesticides made from safe, natural oils. Through the creation, development and scaling-up of a number of such businesses, XL TechGroup aims to generate multiple returns for its investors from a single investment. For more information, please visit our web sites: http://www.xltg.com or http://www.agcert.com.

Contacts

XL TechGroup, Melbourne
Harold Gubnitsky, 321-409-7403
hgubnitsky@xltg.com

Contacts

XL TechGroup, Melbourne
Harold Gubnitsky, 321-409-7403
hgubnitsky@xltg.com