Recommended offer for Fusion IP by IP Group plc ("IP Group") to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Acquisition")

Further to the announcement by the Company on 4 February 2014 regarding the posting of the scheme document relating to the Acquisition (the "Scheme Document"), Fusion IP wishes to clarify to Fusion IP Shareholders that in addition to the Conditions set out in appendix 1 of the Scheme Document and subject to the requirements of the Panel, the Acquisition is conditional on the FCA having acknowledged to IP Group or its agent (and such acknowledgement not having been withdrawn) that the application for the admission of the New IPG Shares to the Official List with a premium listing has been approved and (after satisfaction of any conditions to which such approval is expressed to be subject ("listing conditions")) will become effective as soon as a dealing notice has been issued by the FCA and any listing conditions having been satisfied; and (ii) the London Stock Exchange having acknowledged to IP Group or its agent (and such acknowledgement not having been withdrawn) that the New IPG Shares will be admitted to trading on the London Stock Exchange's main market for listed securities.

Furthermore, Fusion IP wishes to remind Fusion IP Shareholders that the Court Meeting and the Fusion IP General Meeting are due to take place at 11.00 a.m. and 11.15 a.m., respectively, on 27 February 2014 and that the deadline for submission of Forms of Proxy is 11.00 a.m. on 25 February 2014, in respect of the Court Meeting and 11.15 a.m. on 25 February 2014, in respect of the Fusion IP General Meeting. However it should be noted that if the Form of Proxy for the Court Meeting is not lodged by 11.00 a.m. on 25 February 2014, it may be handed to a representative of Fusion IP's registrars, Capita Asset Services, on behalf of the chairman of the Court Meeting before the taking of the poll.

Unless otherwise defined herein, capitalised terms in this announcement shall have the meaning given to such terms in the Scheme Document.

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