Silverjet Update

Nigel Atkinson and Mark Fry of Begbies Traynor, joint administrators for Silverjet plc and its subsidiaries, make the following comment in relation to the previously announced proposed offer for Kingplace Ltd. to acquire Silverjet.

Mark Fry, senior partner from Begbies Traynor and joint administrator for Silverjet
commented:

“On 10 June we announced that principal terms had been agreed with Kingplace Ltd. to
acquire and relaunch Silverjet, subject to regulatory approval and contractual
completion.

”We now understand that, as a result of the unusually complex negotiations with third
parties, Kingplace is no longer in a position to acquire Silverjet as a going concern. As a
consequence, we have today had to make the entire workforce formally redundant, in
line with our legal obligations as administrator.

“We are extremely disappointed to have had to make these redundancies, which we had
been working hard to prevent.

“We continue to negotiate the sale of Silverjet’s assets for the benefit of the Company’s
creditors and will provide an update as soon as we are able.”