Exercise of Options

04 December 2007

ARGENTVIVE PLC

RETAIL8 SIGNS AGREEMENT TO DEVELOP SOCIAL NETWORK PLATFORM

ArgentVive plc ("ArgentVive" or the "Company"), the e-commerce group, is pleased to announce that its Retail8 Consumer Division has entered into a development agreement with Redberry Digital Ltd ("Redberry"). The venture will advance the Company's newly launched search tool BookRabbit, into a new book buying and social network hybrid that will provide increased functionality and additional features.

Under the terms of the agreement Redberry will provide Retail8 with design and build services in return for a project fee and a share of the sales revenue generated through the BookRabbit 2.0 site. The current version of BookRabbit offers a unique search and location service for users to enable them to find their local bookshop using a mobile web browser, such as an iPhone. The new web 2.0 version is expected to be launched during mid-2008, with a number of additional features designed to meet the needs of the prolific book buyer, a retail market worth some £550 million a year.

Retail8 have chosen Redberry as its development partner due to its impressive track record across web publishing, mobile design and eCommerce solutions. Redberry's clients include Universal Pictures International, Working Title Films and Discovery (Channel).

Management appointments

The Company is also pleased to announce that it has also made two further key managerial appointments at Retail8.

Will Jones joins Retail8 as IT Director from Waterstone's Booksellers where he worked as eCommerce IT Solutions Manager responsible for the development of Waterstone's website since launch.

Previously Will was at IT and business consultancy Conchango, working with various clients including Boots, Harrods and Associated Newspapers. He also worked at John Lewis, where he was part of the team that integrated and developed the johnlewis.com operation following the purchase of the UK division of buy.com.

Kwen Wan has joined from GAME stores group, a leading European specialist video games retailer, where he was lead designer for online. Prior to this, he worked for the world renowned Philips Design.
Kieron Smith, Managing Director of Retail8, said:

"We are targeting a book selling market worth £550 million which is not being engaged with or adequately serviced. Our aim is to secure a significant market share by meeting the more demanding needs of prolific book buyers who, like us, have a passion for books.

We have chosen Redberry as our joint venture partner due to their enthusiasm for challenging the conventional, their impressive portfolio and their track record. We believe that they have the skill set required to develop something exceptional."

Speaking of the deal, Tim Redgate of Redberry Digital said "We're absolutely delighted to be involved in the development of this ground-breaking service. The BookRabbit 2.0 experience will be unique in the market and we are confident that the combined skills and experience of Retail8 and Redberry will deliver a meaningful and profitable solution in today's online space."

                                                             
Enquiries:

ArgentVive plc                                               Tel:  01932 460 101
Kevin Fleming, Finance Director

Charles Stanley Securities                                   Tel:  020 7149 6000
Nominated Adviser Russell Cook / Carl Holmes

College Hill                                                 Tel:  020 7457 2020
Mark Garraway/Kate Rock
Redberry Digital Ltd                                          Tel: 01491 413 333
Tim Redgate/Simon Redgate