Tinglobal Buys Powercore

Tinglobal Ltd., a UK-based provider of refurbished, midrange IT infrastructure and services, has acquired Powercore, a provider of services for midrange hardware products. No financial terms were disclosed for the deal, which was sponsored by Tinglobal shareholder Shackleton Ventures Ltd.

PRESS RELEASE

Shackleton Ventures Limited (“Shackleton” or “the Company”), the secondaries venture capital firm, today announces that it has provided further funding to one of its portfolio companies, tinglobal Ltd, to complete the acquisition of Powercore for an undisclosed amount.

Tinglobal is an international business to business provider of refurbished, midrange IT infrastructure and services across the IBM, SUN, Cisco and HP platforms. It is one of Europe's largest independent providers of midrange hardware, parts and associated services. In the 12 months to 31 May 2007, tinglobal generated revenues of Gbp16.9m and EBITA of Gbp658,000, an increase of almost 10% and 29% respectively from the prior year.

Powercore is an independent specialist in the sale, rental and provision of services for midrange hardware products. In the year to 31 May 2007, Powercore had revenues in excess of