MWB Business Exchange Plc : - Posting of Response Circular

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to other jurisdictions should inform themselves of, and observe, any applicable requirements. Any failure to comply with such restrictions may constitute a violation of the securities laws of such jurisdictions. To the fullest extent permitted by law, the companies involved in the Revised Regus Offer disclaim any responsibility or liability for the violation of such restrictions by any person.

FOR IMMEDIATE RELEASE

25 February 2013, London

MWB Business Exchange Plc (the "Company" or "Business Exchange")

Posting of response circular recommending Business Exchange Shareholders

to accept the Revised Regus Offer

Business Exchange has today sent a circular (the "Response Circular") to its Shareholders advising them that the Independent Directors have considered the merits of the Revised Regus Offer made by Marley Acquisitions Limited, a wholly owned subsidiary of Regus plc ("MAL") of 101.0233 pence for each Business Exchange Share, announced on 20 February 2013. The Independent Directors unanimously recommend that Business Exchange shareholders should accept the Revised Regus Offer.

The Independent Directors note that the Revised Regus Offer has already become unconditional in all respects and that MAL has acquired more than 75 per cent. of the voting rights of Business Exchange. The Independent Directors draw Business Exchange Shareholders' attention to the intention of MAL to cancel the admission to trading of the Business Exchange Shares on AIM and remind Shareholders that such cancellation would significantly reduce the liquidity and marketability of any Business Exchange Shares not assented to the Revised Regus Offer.

Taking into account the constraints imposed by the terms of the Irrevocable Undertaking which was given by MWBPL without prior consultation with Business Exchange, which provided Regus with a right to counter any valid higher offer received during the Marketing Period, the Independent Directors, who have been so advised by Nplus1 Singer, consider the value of the Revised Regus Offer represents a fair price based on current trading and that the terms of the Revised Regus Offer are fair and reasonable. In providing its advice, Nplus1 Singer has taken into account the commercial assessments of the Independent Directors.

Accordingly, the Independent Directors have decided to unanimously recommend that Business Exchange Shareholders should accept the Revised Regus Offer, as the Independent Directors intend to do in respect of their and their connected persons' entire beneficial shareholdings in Business Exchange, amounting to, in aggregate, 304,166 Business Exchange Shares, representing approximately 0.47 per cent. of the entire issued ordinary share capital of Business Exchange.

Contacts

MWB Business Exchange Plc

John Spencer, Chief Executive                         020 7868 7268

Andrew Blurton, Corporate Finance Director 020 7868 7321

N+1 Singer                                                           020 7496 3000

Sandy Fraser

Baron Philips Associates                                  020 7920 3161

Baron Philips

Notes

Definitions included in the Response Circular shall have the same meaning in this announcement.

The Business Exchange Directors accept responsibility for the information contained in this announcement, except that the only responsibility accepted by them in respect of the information contained in this announcement relating to Regus, MAL and MWBPL, which has been compiled from published sources, is to ensure that such information has been correctly and fairly reproduced and presented. To the best of the knowledge and belief of the Business Exchange Directors (who have taken all reasonable care to ensure that such is the case) the information contained in this announcement for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.

Nplus1 Singer Advisory LLP, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Business Exchange and for no one else in connection with the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than Business Exchange for providing the protections afforded to clients of Nplus1 Singer Advisory LLP nor for providing advice in relation to the matters described in this announcement.

Forward looking statements

This announcement contains statements that are, or may be, forward-looking statements. All statements other than statements of historical facts included in this announcement may be forward-looking statements. Without limitation, any statements preceded or followed by or that include words such as "target", "plan", "believe", "expect", "aim", "intend", "will", "should", "could", "would", "may", "consider", "anticipate", "estimate", "synergy", "cost saving", "project", "goal" or "strategy" or words or terms of similar substance or the negative of such words are forward-looking statements. Forward-looking statements include statements relating to the following: future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, losses, profits and future prospects of the Company and/or the Business Exchange Group.

These forward-looking statements are not guarantees of future financial performance. Except as expressly provided in this announcement, they have not been reviewed by the auditors of Business Exchange. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this document. Business Exchange assumes no obligation to update or correct the information contained in this announcement, whether as a result of new information, future events or otherwise, except to the extent legally required. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement.

All subsequent oral or written forward-looking statements attributable to Business Exchange or any of its members, directors, officers or employees or any persons acting on their behalf, are expressly qualified in their entirety by the cautionary statement above. Business Exchange and the directors disclaim any obligation to update any forward looking or other statements contained herein, except as required by applicable law. All forward-looking statements included in this document are based on information available to Business Exchange on the date of this document and are made only as of the date of this document.

Dealing disclosure requirements

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Business Exchange, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 p.m. (London time) on the London following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Business Exchange, they will be deemed to be a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Business Exchange by Regus or by MWBPL, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.

Documents on display

Further information for Shareholders is contained in the Response Circular posted today, a copy of which, together with a copy of this announcement, will be available on the website of the Company at www.mwbex.com/more/investor-relations