Mallett PLC ("Mallett")

Return of Cash - Repurchase of B Shares

The 2008 Repurchase Offer offered B Shareholders the opportunity to sell their B Shares to Landsbanki by

completing and returning a form of repurchase by 4.30pm on 13 June 2008.  Valid elections to accept the 2008 B

Share Repurchase Offer were received in relation to 80,454 B Shares. These B Shares were purchased by Mallett

from Landsbanki on Friday 20 June 2008 for an amount equal to 58 pence per B Share plus the total stamp duty and

stamp duty reserve tax payable by Landsbanki in respect of its purchase of B Shares and were cancelled

by Mallett after purchase.

All capitalised terms shall have the meanings given to them in the Circular to shareholders dated 6 May 2008.

For further information, please contact:

Michael Smyth-Osbourne (Finance Director): 020 7499 7411

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