TECHNICHE SIGNS SHARE PURCHASE AGREEMENT TO ACQUIRE URGENT TECHNOLOGY LIMITED (UK)

BRISBANE, Queensland, May 6, 2010-Techniche Limited (ASX: TCN), a Brisbane based Technology Investor, has announced that it has entered into a conditional Share Purchase Agreement to purchase the whole of Urgent Technology Limited UK. The purchase will include its Intellectual Property and Net Tangible Assets and continue with operations already established in London, Delhi, Chicago and Los Angeles.

The Agreement is subject to a number of warranties and finance being obtained by the Company.

The purchase price is GBP 3,000,000 plus Net Tangible Assets, which has been agreed will range between GBP 132,000 and GBP 250,000 depending on the net asset position at completion date which is expected to be on 31 May 2010. The vendors, Malcolm and Julia Railson, will also be entitled to additional payments should the business exceed agreed profit targets during the next three years.

The purchase cost and outlays will be fully funded from proceeds of the recently announced fully underwritten share placement and rights issue. Following completion neither Urgent nor Techniche will have any interest bearing debt.

Headquartered in the UK, Urgent is an IT Services and Web Applications Development company. Its leading asset is the eMaintenance software, a web based system that efficiently captures and manages maintenance requests across geographically diverse locations. Initially developed for BP, eMaintenance is now used globally by customers such as BP, Little Chef and Bovis Lend Lease.

Malcolm Railson is remaining as Managing Director, and will be contracted to the business for the next three years.

Due to the timing of the purchase and the acquisition costs expensed, Urgent is not expected to make any significant contribution to reported profits in the current financial year but will contribute and assist financial performance in the 2010/11 and future years as the Company continues to establish a portfolio of investments within the technology sector. Subject to no material change in market or economic conditions, Techniche are anticipating reporting a profit in excess of $2 million for the 2010-11 financial year.

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About Techniche

Currently within the Techniche portfolio are Prologic, a Tasmanian IT Services Provider, and ERST Technology GmbH, a German technology company providing a customisable high-speedencrypted data transfer solution throughout Europe. ERST’s products are installed in over 5,500 petrol filling stations in Europe, and are now also being used to collect bottle recycling data throughout Germany. The acquisition of Urgent is expected to cost-effectively broaden ERST’s potential markets, providing critical local support bases in the US and the UK.