Pall Mall Capital Completes First Deal for the UK Serviced Office Sector

LONDON, February 10 - Pall Mall Capital, the London-based international corporate finance
advisory house, has completed its first transaction in the UK serviced office
sector by advising Bourne Financial Services on the acquisition of a
significant minority stake in the AIM-listed Serviced Office Group plc.

Gerald Raingold and Richard Speak of Pall Mall Capital, who advised on
the transaction, commented: "Due to the economic downturn, the serviced
office sector in the UK has seen a significant resurgence and is gaining
strong impetus. As a direct result of this market momentum, there will be
further transactions within the sector in the short-term."

Mr. Raingold and Mr. Speak continue: "This is, in fact, the second
transaction that Pall Mall Capital has conducted with a listed company in the
UK this month. Pall Mall has earned its reputation as a leading
transcontinental cross-border M&A specialist. However, we have demonstrated
recently that we are also active in the UK domestic market."

The board of Serviced Office Group plc announced that it had raised
GBP892,340 via way of a subscription of new ordinary shares at 3.5p. The
subscription is by Lexton Assets SA, a Panama company acting as a nominee for
a trust structure of which Andrew Bourne is a beneficiary. Mr. Bourne is the
Managing Director of Bourne Financial Services, a company that specialises in
providing serviced offices to the financial sector. He will be joining the
company with immediate effect and will join the Board once Lexton has
subscribed for a total of GBP500,000.

In total, Serviced Office Group will issue 25,495,434 Ordinary Shares
under the Subscription. The total number of Ordinary Shares to be issued as
part of the Subscription will represent approximately 22.5 per cent. of the
share capital as enlarged by the Subscription.

Pall Mall Capital is a boutique corporate finance advisory house with 18
years of experience and specialising in complex cross-border transactions.
Innovative, tailor-made solutions are delivered by experienced and respected
professionals, of which 15 are in London. They have access to more than 50
senior bankers globally through the Pall Mall Alliance, by which Pall Mall
Capital can combine local market knowledge with funding from the London and
International Capital Markets.

John Cutts has led Pall Mall Capital since its acquisition in 2001. He
was previously the Head of European Corporate Finance at the WestLB Group and
former Executive Director of European Mergers & Acquisitions at Samuel
Montagu & Co. Limited. Gerald Raingold joined Pall Mall Capital as Senior
Managing Director in 2008 from Dawnay Day where he had most recently been the
Executive Chairman of their Investment Banking Division. Richard Speak,
Director joined Pall Mall Capital in 2007 from BDO Stoy Hayward's Corporate
Finance team in Leeds. The Non-Executive Chairman is George Loudon,
previously Chairman and Chief Executive of Midland Montagu.

Contact details: Michael Symes, Strand Financial Limited, t +44(0)20-7520-9216, m +44(0)7736-008270, e:mike.symes at strandfinancial.com