James Thomas to Step Down as Chief Financial Officer of euNetworks

Stepping down from position of Chief Financial Officer and Executive Director of the Board.

London, UNITED KINGDOM – 30 November 2011 – euNetworks Group Limited, today announced the departure of James Thomas, effective from 31 December 2011. “Since joining euNetworks in September 2010 I have had the pleasure of working with a high performing, motivated and talented team,” said James Thomas. “Much has been achieved during my time with the Company, with establishment of an integrated finance function, delivery of strong financial performance including consecutive positive

Adjusted EBITDA for five quarters, the closing of two significant acquisitions, the raising of shareholder loans for interim funding and the successful completion of the recent rights issue. With a strengthened balance sheet, the business is entering a new phase of transformation so now is the right time for me to move on to other opportunities and I wish the team great success for the future.” “James has been a great asset to the business over the last year, building the finance function and supporting key corporate activity to develop and strengthen the business,” said Brady Rafuse, Chief Executive Officer of euNetworks. “James has developed a finance function that will continue to develop and support our needs as we move into 2012. We wish him every success in his future role.”

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