Corporate Update

23 June 2014

The Manager of IMAC is continuing to seek exits for the remaining companies in IMAC's portfolio in a timely manner. Following completion of the sale of its portfolio companies, the Board intends to wind-up the Company and distribute the remaining cash to shareholders. The Board currently anticipates that it should be in a position to put forward detailed proposals to shareholders at this year's Annual General Meeting which is expected to be held in August. Discussions are at an advanced stage for the sale of the Company's interest in brandRapport Group Limited to its management team. The Board currently expects that the consideration in respect of brandRapport will not be material reflecting the current non-renewal of certain of brandRapport's customer contracts.

A further announcement will be made in due course.

Enquiries:

IMAC
Patrick McKenna/ Duncan Reid
Tel: 020 7319 4000

Beaumont Cornish Limited (Nominated Adviser and Broker)
Michael Cornish
Tel: 020 7628 3396

Powerscourt Group (PR Adviser)
Carmen Murray & Victoria Palmer-Moore
020 7324 0496 / ingenious@powerscourt-group.com

distributed by