Frontier IP Limited

SGM

Sigma Capital Group plc

(“Sigma” or the “Company”)

Completion of Listing on the PLUS Market of University IP Subsidiary

Sigma, the specialist asset management and advisory group, is pleased to announce that, having successfully completed the sale of its university IP commercialisation subsidiary, Frontier IP Limited, to the PLUS-quoted investment company, ARH Leisure Investments PLC (“ARH”), the enlarged share capital of the combined businesses has today commenced trading on the PLUS Market as Frontier IP Group Plc (“Frontier IP Group”). The listing represents excellent progress in Sigma’s stated strategy to strengthen further the management and balance sheets of its subsidiaries and to seek independent finance for the businesses while continuing to provide central functions and services.

Frontier IP Group has also announced today that Tim Cockroft has been appointed as an independent Non-executive Director in line with the Group’s stated strategy to enhance the Board. Tim, aged 41, is currently Chief Executive of Singer Capital Markets Limited, the independent stockbroking business. He was previously CEO of KBC Peel Hunt Limited, having been a founding member of Peel Hunt Limited in 1989.

Following completion of the deal, Sigma now owns 77.4% of Frontier IP Group’s enlarged share capital, representing 350 million new ordinary shares issued to Sigma as consideration for Frontier IP Limited and 35 million new ordinary shares issued to Sigma at a price of 1p per share as part of a placing of new shares by ARH. Frontier IP Group will continue to be treated as a subsidiary of Sigma.

Commenting on the acquisition, Graham Barnet, Chief Executive of Sigma, said

“This listing represents an exciting milestone in our strategy to capitalise on opportunities in the IP commercialisation sector. With this access to funding, Frontier IP Group is well placed to accelerate its growth and we look forward to its continued progress.”

All terms used in this announcement are defined as set out in the admission document issued by ARH dated 15 April 2009.

For further information please contact:

Sigma Capital Group plc

Graham Barnet, Chief Executive

T: 0131 220 9444

Frontier IP Group plc

Neil Crabb, Chairman

T: 0131 220 9444

Biddicks

Katie Tzouliadis/Sophie Lane

T: 020 7448 1000

Arbuthnot Securities

Tom Griffiths/Neil Kirton

T: 020 7012 2000

About Frontier IP Group

Frontier IP Limited was established to develop and consolidate the activities of Sigma in the commercialisation of intellectual property developed by universities and research institutes.

Frontier IP Group has long-term commercialisation contracts with two Scottish universities, specifically, a 10-year partnership with the University of Dundee and a 25 year partnership with the Robert Gordon University. Under these partnerships, in return for assistance in maximising the commercial value of technologies emerging from these universities’ research programmes, it is entitled to receive equity in spin-out projects and a share in licensing revenue. Frontier IP Group currently holds equity and has received licensing revenue from these agreements. More university relationship agreements are planned and Frontier IP Group also intends to establish dedicated funds for investment in university spin-out companies.