AXS Accsys Technologies Plc

RNS Number:4116L
Accsys Technologies PLC
02 November 2006







London, 2nd November 2006


                                   AIM: AXS



                Placing of New Ordinary Shares, Raising Euro9.8M





Accsys Technologies PLC ("Accsys" or "the Company") announces today that it has
raised Euro9,802,295 (before expenses) by way of a placing of 6,623,172 new
ordinary shares of Euro0.01 each ("Placing Shares") at Euro1.48 per Placing Share (the
"Placing"). The net proceeds of the Placing, which was arranged by Collins
Stewart Europe Limited, will provide the Company with additional funds to
accelerate the development and expansion of its business.



Willy Paterson-Brown, Chairman of Accsys, commented, "We have seen significant
development in our business during 2006. The focus of the Company's work has
been on our solid wood product, AccoyaTM, which has received a fantastic
reception from our target customers.  Tests have met or exceeded all
expectations, confirming that AccoyaTM wood offers performance attributes that
are equivalent to or better than the best tropical hardwoods and even superior
to the many artificial material alternatives used today.  The combination of
durability, stability and reliability with sound environmental credentials -
AccoyaTM is completely non-toxic and made exclusively from sustainably forested
wood - is proving very attractive.



"Alongside AccoyaTM wood we have also been progressing other new and promising
technologies. The majority of funds raised by this new placing will be used to
accelerate the launch of our engineered wood products business (based on wood
fibre, e.g. MDF). We believe this has as much potential as our solid wood
business.



"We are extremely confident about the future and are very close to start-up of
the world's first full-scale commercial acetylation production plant for Accoya
TM wood. This plant will provide much needed supplies of high performance wood
both for our customers across Continental Europe and for our overseas licensees.
  It will also serve as a demonstration of the process for those companies
wishing to add value to their existing products and create new market outlets.



"The Board are very pleased at the high level of interest we had from investors
to the Placing, which was oversubscribed. Accsys continues to attract an
enviable list of blue-chip investors who clearly support the Company's long-term
objectives".



Application will be made to the London Stock Exchange for the Placing Shares to
be admitted to trading on AiM. It is expected that such Admission will occur at
08:00am on 8th November 2006.





For further information, please contact:


Accsys Technologies PLC               William Paterson-Brown,                     +44 20 7598 4040
                                      Executive Chairman
www.accsysplc.com
Collins Stewart Limited               Tim Mickley / Michael O'Brien               +44 20 7523 8000
Parkgreen Communications              Justine Howarth                             +44 20 7493 3713




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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