Frontier IP Limited

FIPP

28 July 2009

FRONTIER IP GROUP PLC

(“Frontier IP” or “the Group”)

Announces

Launch of Investment Fund

for

University Spin-Out Opportunities

Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce today the establishment and First Closing of the first dedicated private equity fund for investment in intellectual property developed by Robert Gordon University, Aberdeen.

The private equity fund, named RGU Ventures Investment Fund LP (“the RGU Fund” or “the Fund”), launches with committed funds at First Closing of up to £1.1 million. Frontier IP and Robert Gordon University comprise the first investors in the RGU Fund. Frontier IP, through its subsidiary, Frontier IP Investments Limited, has committed £300,000 to the Fund with Robert Gordon University committing up to £800,000.

In addition, Frontier IP is pleased to announce that the RGU Fund has secured partnership status with Scottish Enterprise’s Scottish Co-investment Fund. This means that the Scottish Co-investment Fund may invest alongside the RGU Fund in individual university spin-out companies, matching, subject to other criteria, pound-for-pound the investment made by the Fund and thereby potentially doubling the total funds available to £2.2m.

The Fund can remain open to new investors for a further two years. Sigma Technology Management Limited (“STM”) (a subsidiary of Frontier IP’s major shareholder, Sigma Capital Group plc) will act as interim manager of the Fund, as part of the services management agreement between STM and Frontier IP, with Frontier IP Limited assuming this role once it has received approval to do so from the Financial Services Authority.

Frontier IP has a 25-year partnership with Robert Gordon University and the establishment and First Closing of the RGU Fund represents early progress in Frontier IP’s strategy to participate as a limited partner in dedicated private equity funds for its university partners. The RGU Fund will help to accelerate the development of commercial opportunities emerging from Robert Gordon University’s research programmes and the Fund has the first right to fund any spin-out company from the University, across any of its faculties. The University has a strong research base including three multi-disciplinary research institutes: the Institute of Health and Welfare; the Institute for Innovation, Design and Sustainability Research; and the Institute for Management, Governance and Society Research. The Fund will consider any sector where there is a clear and defensible intellectual property base and it is expected that its portfolio will be broadly spread across a range of technology and life sciences companies, reflecting the patentable research base within Robert Gordon University.

Neil Crabb, Chairman of Frontier IP Group plc, commented,

“I am delighted that Frontier IP together with Robert Gordon University are the first investors in the launch of this new fund which is wholly dedicated to investing in companies arising from Robert Gordon University’s exciting research programmes.

Robert Gordon University is one of the oldest technology institutes in the UK and has a strong applied research base and reputation for technological innovation, particularly in the areas of energy, environmental technologies and healthcare. The establishment of this dedicated fund will help to speed up the commercialisation process of the University’s research projects. We are also pleased that significant additional funding may be available through parallel investment from Scottish Enterprise’s Scottish Co-Investment Fund.”

Professor Peter Robertson, the Vice Principal and Pro-vice Chancellor of Robert Gordon University, commented,

“After our significant success in the Research Assessment Exercise 2008, the establishment of the fund reflects the growing recognition of the excellence of our research, as well as confidence in our ability to support the economic development of exciting innovations. In the current economic climate, the fund, combined with our relationship with Frontier IP Ltd, provides a support mechanism for young technology companies which is unique among Modern Universities.”

The Directors accept responsibility for the content of this announcement.

For further information please contact:

Neil Crabb, Chairman

Frontier IP Group

T: 0131 220 9444

Katie Tzouliadis/ Sophie Lane

Biddicks

T: 020 7448 1000

Gavin Burnell/ Brett Miller

Ruegg & Co Limited

T: 020 7584 3663

About Frontier IP Group plc

www.frontierip.co.uk

Based in Edinburgh, Frontier IP specialises in the commercialisation of the intellectual property developed by universities and research institutions. It establishes partnerships with individual universities and research institutions to assist with their spin-out activities and so helps to maximise the commercial value of technologies emerging from their research programmes.

Frontier IP is a subsidiary of Sigma Capital Group plc, the AIM listed UK-based asset management group.

About Robert Gordon University

www.rgu.ac.uk

Robert Gordon University has a national and international reputation for excellence in the provision of highly relevant professional education, delivering more than 300 courses to approximately 14,000 full and part-time students in the arts, architecture and the built environment, business, management, engineering, pharmacy, health and the sciences. Over the last decade, the University has consistently had one of the best records of any UK university for graduate-level employment and was quoted in The Times Good University Guide 2010 as the best Modern University in the UK. It was the best Modern University for research in Scotland in the Research Assessment Exercise 2008.

ENDS