TNEB Update

TIDMCYAN

Cyan Holdings Plc

14 February 2012

RNS Reach

14 February 2012

Cyan Holdings plc

("Cyan" or the "Company")

Update on TNEB Tender

   --      TNEB 1.5 million tender submission date extended to 20 February 2012

-- Expected to mean that the number of meters submitted which incorporate Cyan's CyLec technology will be higher than originally anticipated

   --      Board will update investors when further information becomes available

Cyan Holdings plc (AIM:CYAN.L), the integrated system design company delivering wireless solutions for lighting control and utility metering today gives an update regarding the Tamil Nadu Electricity Board (TNEB) Automatic Meter Reading tender.

TNEB is one of the largest electricity distributors in India. In November, it published a tender for the supply of 1.5 million meters as part of its consumer network upgrade programme. This represents the first phase in what is anticipated to be a total upgrade programme of 18 million meters.

Cyan has received information that TNEB has agreed to extend the deadline for submission of samples to 20 February 2012, a further 10 day extension to the original closing date of 10 February 2012.

Cyan is confident that two Indian metering manufacturers, both main suppliers of TNEB, have CyLec compliant meters ready to submit and understands that several other manufacturers of CyLec interoperable meters will now also be in a position to meet the new deadline.

Bijan Mohandes, VP Worldwide Sales and Marketing at Cyan commented, "The extension to the tender submission deadline was unexpected however it does benefit Cyan as we understand it will allow a greater number of CyLec interoperable meters to be fully developed and submitted. We believe this tender represents a significant opportunity for Cyan over the next five years and we will update shareholders as further information becomes available."

Enquiries:

 
Cyan Holdings plc                Tel: +44 (0) 1954 234 400 
 John Read, Chairman 
 www.cyantechnology.com 
Cenkos Securities plc            Tel: +44 (0)20 7397 8900 
 NOMAD and Joint Broker 
 Stephen Keys / Adrian Hargrave 
                                 ------------------------- 
XCAP Securities plc              Tel: +44 (0)20 7101 7070 
 Joint Broker 
 Jon Belliss / Adrian Kirk 
                                 ------------------------- 
Newgate Threadneedle             Tel: +44 (0)20 7653 9842 
 Financial PR 
 Adam Reynolds / Guy McDougall/ 
 Caroline Evans- Jones 
                                 -------------------------

About Cyan

Cyan is an integrated system design company delivering mesh based flexible wireless solutions for utility metering, lighting control & industrial telemetry. For more information, please visit www.cyantechnology.com.

About CyLec

CyLec is a complete control and communication network for electricity metering. CyLec uses wireless technology to enable the collection and delivery of data from and to a meter, such as energy profiles, instant readings and the sending of tariff updates. Prioritydata can also be sent back to the utilities such as information regarding tampering enabling the utility to take action immediately.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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