4 July 2008

Radicle Projects PLC

("Radicle" or the "Company")

Radicle acquires MIS interests in wheat production project

Radicle (EPIC: RDP.L), the AIM quoted UK company involved in the acquisition and management of

Australian agribusiness projects, is pleased to announce the acquisition of 1,500 Co-Production

Units in The 2008 Grain Co-production Project (the "Grain Project") for a total cash consideration of

AU$6.6 million (£3.2 million).  Radicle's interest represents approximately 15 per cent. of the Grain Project.

The Grain Project is expected to produce income from the sale of wheat (90%) and Barley (10%) during

the current financial year.  The first crop was planted in the 2007 Australian autumn planting season and is

well advanced, benefiting from favourable weather conditions since planting.  This is a three year

project.  The project is expected to return some 15 per cent of proceeds from the 2008 and 2009 harvests

to investors with the balance held to cover the development of the following year's crop, while the net

proceeds of the final crop for 2010 will be fully distributed.

The Grain Project is managed by Australian Agricultural Contracts Ltd ("AACL").  The Grain Project

comprises approximately 125,000 hectares, of which over 100,000 hectares is located in the wheat

belt of Western Australian. The Grain Project also has smaller fields in South Australian, Victorian

and New South Wales.  Radicle's interest in The Grain Project is forecast to yield approximately

60,000 tonnes of grain per annum. 

ACCL has developed an innovative "contract" arrangement that allows AACL to establish a network

of grain producers who provide a diverse range of farmers, growing regions and crops (wheat and

barley).  This is in line with Radicle's stated aim of providing a diverse range of geographic locations for

the production of its crops. .

Radicle has also been paid a fee of AU$900,000 for provision of services to AACL by securing buyers for

the Grain Project. 

An independent valuation of the assets acquired values Radicle's holding

at approximately AU$7.5m (£3.6 million).  The Grain Project generated no revenues in the year to 30

June 2008 while planting costs relating to these assets were estimated to be

approximately AU$5.4 million (£2.6 million).

Tim Bennett, Chief Executive commented, "Wheat is in heavy demand around the world and this makes

this project an exciting and attractive acquisition. We expect the project to be producing cashflow for the

group in the current financial year." 

 --ENDS--

Enquiries:

Radicle Projects PLC                                                                                                        Tel : 020 7016 5300

Michael Finniston, Chairman                                                                                             Tel: 07968 580 448

Tim Bennett, CEO                                                                                                             Tel: 07969 981 790

Charles Stanley Securities                                                                                                Tel: 020 7149 6000

Nominated Adviser 

Russell Cook/Freddy Crossley

Bishopsgate Communications                                                                                          Tel : 020 7562 3350

Maxine Barnes / Nick Farmer

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