8 July 2008

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES

Wagon plc

Update on delay to commencement of dealings in Rights Issue Shares (nil paid)

On 3 July 2008 Wagon plc ("the Company") announced that the Underwriters had agreed to extend the date by which the Underwriting Agreement required Admission to have occurred to 8 July 2008 in order to give the Company additional time to finalise the conditions precedent to the Rights Issue.  

There are a small number of procedural matters that need to be completed before the conditions precedent can be satisfied. However, the Company is confident that the conditions precedent will be satisfied shortly and that dealings on the London Stock Exchange in the Rights Issue Shares, nil paid, will commence on or before 11 July 2008. To accommodate this, the Underwriters have agreed to extend the date by which the Underwriting Agreement requires Admission to have occurred to 8.00 a.m. on 11 July 2008 (subject to any further extension agreed between the Underwriters and the Company). 

The Company expects to be able to issue a further announcement containing a revised timetable for the Rights Issue shortly. 

ENDS

For further information

Terms used in the Prospectus shall have the same meaning when used in this announcement, unless the context requires otherwise.

This announcement is an advertisement and not a prospectus and investors should not subscribe for or purchase any Nil Paid Rights, Fully Paid Rights or Rights Issue Shares referred to in this announcement except on the basis of information in the Prospectus which has been published by Wagon on 5 June 2008 in connection with the Rights Issue. Copies of the Prospectus will be available from the Company's registered office. This announcement does not constitute, or form part of an offer to sell, or the solicitation of an offer to subscribe for or buy, any Rights Issue Shares. Any decision to invest in the Rights Issue Shares should only be made on the basis of information in the Prospectus which contains further details relating to Wagon in general as well as a summary of the risk factors to which an investment in the Rights Issue Shares is subject. 

This announcement is not an offer of securities for sale in the United States. The Nil Paid Rights, the Fully Paid Rights, the Rights Issue Shares and the Provisional Allotment Letters will not be offered or sold in the United States or to or for the account or benefit of a person located in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. The Nil Paid Rights, the Fully Paid Rights, the Rights Issue Shares and the Provisional Allotment Letters have not been and will not be registered under the Securities Act and no public offering of the Nil Paid Rights, the Fully Paid Rights, the Rights Issue Shares or the Provisional Allotment Letters will be made in the United States.

This announcement does not constitute an offer of Nil Paid Rights, Fully Paid Rights, Rights Issue Shares or Provisional Allotment Letters to any person with a registered address in, or who is resident in, Australia, Canada, Japan or South Africa. None of the Nil Paid Rights, the Fully Paid Rights, the Rights Issue Shares or the Provisional Allotment Letters has been or will be registered under the relevant laws of any state, province or territory of Australia, Canada, Japan or South Africa. The Prospectus does not constitute an offer to sell or a solicitation of an offer to buy Rights Issue Shares or to take up entitlements to Nil Paid Rights in any jurisdiction in which such offer or solicitation is unlawful. Subject to certain limited exceptions, neither the Prospectus, the Provisional Allotment Letter nor this announcement will be distributed in or into Australia, Canada, Japan or South Africa.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions. 

Prices and values of, and income from, shares may go down as well as up and an investor may not get back the amount invested. It should be noted that past performance is no guide to future performance. Persons needing advice should consult an independent financial adviser.

The statements contained in this announcement that are not historical facts may be "forward-looking'' statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Wagon's control and all of which are based on Wagon's current beliefs and expectations about future events. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes'', "expects'', "may'', "will'', "could'', "should'', "intends'', "estimates'', "plans'', "assumes'' or "anticipates'' or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In addition, from time to time, Wagon or its representatives have made or may make forward-looking statements orally or in writing. Furthermore, such forward-looking statements may be included in, but are not limited to, press releases or oral statements made by or with the approval of an authorised executive officer of Wagon. These forward-looking statements and other statements contained in this announcement regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing Wagon and its subsidiaries. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. The forward-looking statements contained in this announcement speak only as of the date of this announcement and neither Wagon nor the Sponsor undertakes no duty to, and will not necessarily, update any of them in light of new information or future events, except to the extent required by applicable law, the Prospectus Rules, the Listing Rules and the Disclosure Rules and Transparency Rules.

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