ITH Ithaca Energy Plc

    FORM 8.3
    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
                         (Rule 8.3 of the Takeover Code)


1.   KEY INFORMATION

Name of person dealing        Revera Asset Management Ltd
(Note 1)
Company dealt in              ITIS  Holdings plc
Class of relevant security    Ordinary Shares
to which the dealings being
disclosed relate (Note 2)
Date of dealing               18 December 2008


2.   INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a)  Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

                                      Long                  Short

                              Number                                 Number
                                             (%)                               (%)
(1) Relevant securities       1,085,808      (1.1%)      
   
(2)  Derivatives (other  than                       
options)
   
(3) Options and agreements                          
to purchase/sell
   
Total                                               


(b)  Interests and short positions in relevant securities of the company, other
     than the class dealt in (Note 3)

Class of relevant security:           Long                  Short
              
                              Number                Number
                              (%)                   (%)
(1) Relevant securities                             
   
(2)  Derivatives (other  than                       
options)
   
(3) Options and agreements                          
to purchase/sell
   
Total                                               


(c)  Rights to subscribe (Note 3)

Class of relevant security:   Details

                              



3.   DEALINGS (Note 4)

(a)  Purchases and sales

Purchase/sale            Number of securities    Price per unit (Note 5)

Sale                     1,085,808               GBP 0.0275

        
(b)  Derivatives transactions (other than options)

Product       Long/short       Number of securities   Price per unit
name,         (Note 6)         (Note 7)               (Note 5)
e.g. CFD
                                                      
   

(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying


Product name,   Writing,          Number of          Exercise  Type, e.g.      Expiry   Option money
e.g. call       selling,          securities to      price     American,       date     paid/received
option          purchasing,       which the option             European etc.            per unit (Note 5)
                varying etc.      relates (Note 7)    
                                                                


(ii) Exercising

Product name, e.g. call  Number of securities    Exercise price per unit
option                                           (Note 5)
                                                 

(d)  Other dealings (including new securities) (Note 4)


Nature of transaction    Details                 Price per unit (if
(Note 8)                                         applicable) (Note 5)

 
4.   OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the
person disclosing and any other person relating to the voting rights of
any relevant securities under any option referred to on this form or
relating to the voting rights or future acquisition or disposal of any
relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.


Is a Supplemental Form 8 attached? (Note 9)                 NO


Date of disclosure                         19 December 2008
Contact name                               Glen Nimmo
Telephone number                           0131 656 5510
If a connected EFM, name of                
offeree/offeror with which connected
If a connected EFM, state nature of        
connection (Note 10)


Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk

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