RNS Number:5170J
Abraxus Investments PLC
02 April 2003

              Abraxus Investments Plc ("Abraxus" or "the Company")

                    Raises #225,600 through Private Placing

                   of 2,350,000 New Shares at 9.6p per Share

Abraxus Investments, the AIM listed company that specialises in identifying
international and UK commercial property related investment opportunities, has
raised #225,600 through a private placing of 2,350,000 new Ordinary Shares at
9.6 pence per shares, representing approximately 8.9 per cent. of the enlarged
share capital. Application has been made for the new shares to be admitted to
trading on the Alternative Investment Market of the London Stock Exchange and it
is expected that trading will commence on 8 April 2003.

Follow the placing Capela Overseas Ltd has an interest in 950,000 Ordinary
Shares, representing approximately 3.62% of the issued share capital.

Abraxus Chairman Phil Edmonds said: "As announced previously, Abraxus is now
looking to invest in international and UK commercial property. Since this change
in strategy, the Board has been actively looking to raise further capital to
fulfil these new objectives. By strengthening our cash position we are in a
position to act quickly on potential property investment opportunities, which
will hopefully enhance our ability to increase shareholder value.

"The international property market, especially in Eastern Europe and Russia, now
offers exciting investment opportunities that we hope to capitalise on. Yields
are attractive and international investment in these regions is being
encouraged. We now feel we have a strong board, a good team of advisors and an
expansive network of connections as well as a strong financial position from
which to deliver on our stated strategy."

                                      ENDS

Contacts:
Phil Edmonds               Abraxus Investments Plc          Tel: 020 7224 2522
John Depasquale            Seymour Pierce                   Tel: 020 7648 8700
Hugo de Salis              St Brides Media & Finance        Tel: 020 7242 4477



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