Innobox Plc (the "Company")                          

                         Conversion of site to tenancy                         

29 August 2006

The Company is pleased to announce that on 25 August 2006 , it signed an
agreement on The Three Tuns Coaching Inn at Pettistree converting it from a
managed public house to a tenanted public house.

The tenancy agreement is for a period of three years and will provide the
Company's 100 per cent. subsidiary, Innobox Hotels Limited, with an annual
rental income of �34,800. At completion, the tenants paid one month's rent in
advance and a bond deposit equal to three months rent. At the end of the three
year lease, a review will be conducted to either renew the tenancy or find an
alternative option for the site.

Enquiries:

Russell Stevens                         07860 562621                           
                                                                               
Chief Executive, Innobox Plc            russell@innobox.co.uk                  
                                                                               
Richard Morrison                        020 7601 6115                          
                                                                               
Hanson Westhouse LLP                    richard.morrison@hansonwesthouse.com   



END
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