red24 PLC

New special risk contracts

red24 plc ("red24" or the "Group") is pleased to announce that it has signed agreements with two major insurance underwriters in the United States to provide special risk consulting services. The Company anticipates that these will add a minimum of $700,000 of additional revenue over the next calendar year.

The first agreement is for an initial period of three years and is involved in the Company's traditional field of product contamination. The second is to provide special risk services, and represents a first sales success for the additional staff recruited in the autumn.

Simon Richards, Chairman, commented:

"In the Company's half yearly statement we announced that the Company had taken on additional staff to offer a fuller range of special risk advice and I am delighted that this has led to such immediate success. These contracts are further evidence of the solid progress being made by the business and underpin our confidence in the future."

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red24 is a provider of a range of security risk management services, offering preventative and reactive advice to help individuals and organisations to avoid and manage security risks to themselves, their families and their organisations. The products are principally distributed through leading international financial service companies.  

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