Business Update

07 April 2008

Solar Labs plc, a subsidiary of Oxford Advanced Surfaces Group plc changed its name to Oxford Energy Technologies plc ("Oxford Energy"). The change in name reflects the broadening of Oxford Energy's strategy to encompass a wider range of energy and low carbon technologies.

Oxford Energy intends to develop novel solutions for the fast growing and increasingly important renewable energy markets primarily using Onto(R) technology from Oxford Advanced Surfaces Ltd, also a subsidiary of OASG.

Onto(R) is a proprietary coating technology that exploits a reactive type of molecule so that it can be conveniently and safely applied to a wide range of materials allowing the rapid and convenient modification of the surface properties. This delivers permanent, dramatic and highly valuable changes to surface functionality. The Onto(R) coating technology is a versatile, effective, yet simple approach to deliver intelligent advanced materials.

Initial development projects will focus on: (a) photovoltaics, where the application of Onto(R) technology should improve the efficiency of solar cells and; (b) solid state lighting where the technology is aimed at delivering dramatic efficiency and lifetime improvements, along with research into improved emission colour. Both these applications have a significant potential worldwide market. In the future the Company will also consider the implementation of its available technologies in other energy markets such as fuel cells and batteries.

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