TUNGSTEN CORPORATION PLC 

("Tungsten" or the "Company")

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For Immediate Release 22 December 2014

Financing Update

Tungsten Agrees Financing Arrangement With Insight

London, 22 December 2014 - Tungsten Corporation plc (LSE: TUNG) ("Tungsten" or the "Company") today announced that it has signed an agreement with Insight Investment Management (Global) Ltd ("Insight") under which Insight has agreed to invest in Tungsten Early Payment receivables, eligible invoices originated by Tungsten in Europe and North America.

Insight, a leading global asset manager responsible for over £318 billion in assets under management, has agreed to purchase approved-to-pay, investment grade receivables originated through the Tungsten Network e-Invoicing platform.  Terms of the agreement with Insight, which is subject to certain regulatory approvals, are not disclosed.  Insight is owned by BNY Mellon.

The funding to be provided under this multi-year agreement is expected to total several billion pounds. This financing, together with the existing capital within Tungsten Bank, will provide the Company with all the required funding at this stage for its invoice finance proposition, so the Company no longer needs to pursue alternative financing options, such as a bond issue. Tungsten had previously announced that the majority of capital required for its supply chain finance activities would be funded by third parties. Tungsten Bank also provides the opportunity to raise deposits from clients as well as from the Buyer customers on the Tungsten Network, which would enable the Buyers to deploy cash balances to finance their supply chains.

Edmund Truell, Group CEO of Tungsten and Chairman of Tungsten Bank, said: "The agreement with Insight is a significant milestone in the development of Tungsten. We can now execute on our ambitious strategy for our Tungsten Early Payment invoice financing business, which is an important element of our future growth.  We now have the wherewithal to finance invoices on a significant global scale, having already successfully financed invoices for UK-based Suppliers on our platform.  Tungsten will now offer Tungsten Early Payment to a wider audience. These arrangements also help reinforce a key part of Tungsten's financing proposition, which is to make available supply chain finance to Tungsten Early Payment Suppliers once they have taken cash advances."

Insight is a leading investment manager offering deep and broad fixed income capabilities. It has a long track record of breaking new ground in fixed income, with this being the latest example of innovation. From Insight's perspective, trade receivables offer a potentially attractive risk/reward profile in the context of its clients' broader investment strategies.

Meanwhile, Tungsten continues to expand the Tungsten Network, and is working to extend its service to all G20 countries while aiming to bring onto the Network all of the invoice flow of our major Buyers.  Following the DocuSphere acquisition earlier this year, the Company now has the technological capability to offer to finance the vast majority of approved-to-pay invoices to Suppliers, not just those received electronically on the Network.  This would address the many billions in invoice value that are not currently being processed electronically.  Tungsten estimates that some $2.7 trillion of addressable spend could be transacted over Tungsten Network if Buyers used the Network for all the business they do with their Suppliers.

Enquiries:

Tungsten Corporation plc

Edmund Truell, Chief Executive Officer                                +44 20 3435 5680

Juliana Wheeler, Head of Global Communications          +44 20 7280 7973

Charles Stanley Securities

(Nominated Adviser and Joint Broker)

Marc Milmo/Dugald Carlean                                                       +44 20 7149 6000

Canaccord Genuity Limited

(Joint Broker)

Simon Bridges/Peter Stewart/Cameron Duncan               +44 20 7523 8000

Equus Group (Communications)

Piers Hooper/Sam Barton                                                            +44 20 7223 1100

About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.

Buyer organisations that join Tungsten Network, the world's largest compliant electronic invoice network, can reduce their invoice-processing costs.  Tungsten helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data; improve their compliance; and manage their suppliers with its disruptive procurement tools.   Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers Tungsten Early Payment supply chain financing on a global basis.

Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It estimates that its buyers transact over $2.7 trillion of addressable spend annually.  The Tungsten Network enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over $187bn for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.

Tungsten Corporation joined forces with OB10 in October 2013 to create the world's largest electronic trading network; and acquired DocuSphere in September 2014, a provider of workflow automation solutions.

Tungsten Early Payment enables suppliers to be paid for invoices when they need it. Suppliers select the invoice and payment date and Tungsten pays the invoice amount minus a discount charge. This integrated invoice finance offering has been designed with Tungsten Network suppliers in mind and provides a low cost and easy-to-access alternative to traditional forms of bank finance.

Contact: Juliana Wheeler, Head of Global Communications, +44 20 7280 7973.

juliana.wheeler@tungsten-network.com

Tungsten Early Payment is subject to eligibility and standard terms and conditions. Tungsten Network Finance Limited reserves the right to make a final determination as to whether or not you are eligible for Tungsten Early Payment. Tungsten Bank and or Tungsten Network Finance Limited will carry out money laundering checks on your company in accordance with local legal requirements. Tungsten Early Payment may not be available in certain jurisdictions.