AZH Azure Hlgs

    For immediate release

                                                                11 January 2006

                              Azure Holdings Plc                               

                          ("Azure" or the "Company")                           

                                 Result of EGM                                 

At an extraordinary general meeting of the Company held yesterday, all
resolutions were duly passed. The EGM was convened in order to give the
directors authority to allot shares pursuant to sections 80 and 89 of the
Companies Act 1985. The primary purpose was to provide the directors of the
Company with the necessary authorities to enable Mr Roger Taylor, a Swiss based
private investor, to subscribe for �330,000 nominal of convertible unsecured
loan stock ("CULS"), convertible into 66,000,000 new ordinary shares in the
capital of the Company. Existing ordinary shareholders were also provided with
the opportunity to subscribe for up to �100,000 nominal of CULS on the same
terms.

The Company has received an application for �330,000 nominal of CULS from Mr
Taylor. In addition, applications were received from existing ordinary
shareholders for �15,000 nominal of CULS.

The CULS are convertible on the basis of 200 new ordinary shares in Azure for
every �1 nominal of CULS, repayable on 31 December 2006 and may be converted in
the following circumstances:

  * the CULS holder has served a conversion notice; or
   
  * a reverse takeover, as defined by the AIM rules, occurs; and
   
  * the Panel on Takeovers and Mergers has granted a waiver of the obligation
    under rule 9 of the City Code on Takeovers and Mergers which may arise
    following conversion of the CULS and that waiver has been approved by a
    vote of independent shareholders in general meeting; and
   
  * the CULS are converted in tranches of �1,000 nominal.
   
Enquiries:

Azure Holdings Plc

Nicolas Greenstone 020 7258 5140

John East & Partners Limited

John East 020 7628 2200



END

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