AWR Adwalker

    27 February 2008

                                 ADWALKER PLC                                  

                         ("Adwalker" or the "Company")                         

           Issue of Equity and award of Research & Development Grant           

The Board of Adwalker, the AIM quoted digital media company , announces today
that Enterprise Ireland, the Irish state development agency, has subscribed Euro
250,000 (approximately �185,000) for 12,369,800 ordinary shares in the capital
of the Company ("Ordinary Shares") at 1.5p per share.

In addition, a private client stock broker, on behalf of certain of its
clients, has subscribed for 3,630,815 Ordinary Shares at 1.5p raising
approximately �55,000 before expenses.

The net proceeds from these subscriptions, amounting to approximately �240,000,
will provide additional working capital to support the expected growth of the
Company and provide working capital generally.

Following the issue of these Shares, the Company will have 263,633,702 Ordinary
Shares in issue. Application will be made for the new Ordinary Shares to be
admitted to trading on AIM. Dealings in these shares are expected to commence
on 5 March 2008.

Grant Award

The Board also announces that Enterprise Ireland has awarded a Research and
Development Grant of up to Euro250,000 (approximately �185,000). The grant will be
drawn down through the reimbursement of costs associated with the development
of digital screen technologies.

 

Commenting on today's update, Keith Jordan, Adwalker COO, said: "Investment and
R&D support from Enterprise Ireland reflects the quality of the technological
development within Adwalker, not just on the Adwalker wearable media platform
but also in our development of fixed interactive digital screen networks.

Tracy Pryce, Enterprise Ireland Development Adviser added: Adwalker is a great
example of how innovation and customer focus can drive internationalisation and
export growth. We are delighted to be involved in an Irish company developing
best of breed digital technologies that are receiving worldwide recognition".

Enquiries:

Adwalker plc                                           Tel: +353 (1) 866 9000
                                                                             
Simon Crisp                                                                  
                                                                             
simon@adwalker.com                                                           
                                                                             
John East & Partners Limited                               Tel: 020 7628 2200
                                                                             
Simon Clements/David Worlidge                                                
                                                                             
Bishopsgate Communications Ltd.                            Tel: 020 7562 3350
                                                                             
Dominic Barretto                                                             
                                                                             

Notes to Editors:

About Adwalker

Adwalker is a digital media company specialising in the provision of multimedia
digital platforms, which include, fixed screen digital networks and the
patented Adwalker wearable media.

The Adwalker mobile out-of-home, interactive media platform is an advertising
and media platform which is worn by its operators (`Adwalkers') as a compact
body pack incorporating an LCD screen, wearable computer, touch screen and
printer, enabling services and applications which include brand advertising,
point-of-sale and data capture.

Some of Adwalker's blue chip clients to date include Bank Of America, AT&T,BT,
Virgin Music, Volvo, Lufthansa, Motorola, Diageo, Daimler Chrysler, Microsoft,
Paramount Pictures, UIP/Universal Pictures, GSK, Ask.com, 3 Mobile, American
Express, Coors, Unilever, Comcast, O2, Ford, Guinness, Telemundo, British
Airways, Charles Schwab, Jameson's and Sears.

Adwalker's shares were admitted to trading on the AIM market of the London
Stock Exchange in August 2005. (Ticker: AWR) Its headquarters are in Dublin,
with offices in New York and London.

About Enterprise Ireland

The mission of Enterprise Ireland is to accelerate the development of
world-class Irish companies to achieve strong positions in global markets
resulting in increased national and regional prosperity.

In 2007 Enterprise Ireland published a new strategy 2008 - 2010: Transforming
Irish industry. The objective of the strategy is to transform Irish companies
into market focused and innovation driven businesses, capable of
internationalising and maximising exports through leadership, innovation and
growth. It sets out ambitious targets that include Euro4 billion in new export
sales by 2010 and a substantial increase in the numbers of Irish firms
performing research and development by 2010.

Enterprise Ireland is responsible for the development and promotion of the
indigenous business sector. Indigenous companies employ approximately 140,000
people, expend Euro16 billion in Ireland on wages, raw materials and services and
account for exports of Euro11 billion. Enterprise Ireland is headquartered at
Glasnevin, Dublin.

www.enterprise-ireland.com



END

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