28 Jan 08

London, UK (24 January, 2008): Coolabi (COO.L) is pleased to announce the appointment of Mr Stuart Lindsay as a Non-Executive Director with immediate effect. Mr Lindsay will chair the Board's Remuneration and Audit Committees.

Stuart Lindsay, aged 55, was a Corporate Finance Partner with Deloitte until 2003. He has since established his own consultancy business and acts as non-executive director or strategic advisor to a number of companies.

Lord Brabourne and Lawrence Chrisfield stand down as non-executive directors today, having served on the Board since the foundation of the Company in 1999.

Chairman, William Harris, said:

'I am delighted that Stuart has joined the Board. His corporate finance experience should be invaluable as we continue to progress our acquisition strategy.

'I'd like to thank Norton and Larry for the exceptional contributions they have made to Coolabi over many years. They have been outstanding supporters of the Company, investing their time, energy and money generously to help position Coolabi ready for acquisition and growth.'

Stuart Lindsay said 'I am very pleased to be joining Coolabi at this exciting time and look forward to working with the rest of the Board to continue the growth of the business.'

Mr Lindsay's current and past directorships are as follows:-

Current

Pointer Associates Limited John Smith & Son Group Limited Cubit Group Limited Pelican Inn Limited Novello Pub Limited Archstone Lifestyle Homes Limited Hampshire Fertility Limited

Past

South Coast Marketing Company (UK) Limited Coutts Information Holdings Limited Telsis Limited

No further information falls to be disclosed as required by Schedule 2

(g) of the AIM rules

For further information contact:-

William Harris, Chairman, Coolabi plc

Jeremy Banks, Chief Executive, Coolabi plc:

T: 020 7258 7080

Bobbie Hilliam Evolution Securities Ltd T: 020 7071 4300

Verity Williams or Katie Thompson Portland for Coolabi: T: 020 7404

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