Directors’ Dealings
Directors Receive Shares in Lieu of Fees

London and New York, 7 April 2009 - Amphion Innovations plc (LSE: AMP), the developer of medical and technology businesses, today announces that Board members Richard Mansell-Jones, Anthony Henfrey, and R. James Macaleer have used their directors’ fee for the period 1 October to 31 December 2008, to subscribe to the convertible promissory note offering for a total of £24,625. For the period 1 January to 31 March 2009, the same directors, in lieu of their directors’ fees, received ordinary shares priced at 11.14p, being the average price for the five days leading up to the market close on 31 March 2009.

The Convertible Promissory Notes are convertible between 31 December 2008 to 31 December 2013 into fully paid Ordinary Shares of 1 pence each in the capital of the Company at a conversion price of 18 pence per Ordinary Share and pay interest of 7 per cent annually until conversion. In addition, for each Note issued, the Company also issued 1.11 warrants to each subscriber of the Notes, a ratio of one warrant for every five shares issuable upon conversion. Each warrant will entitle the holder to subscribe for one Ordinary Share at 20 pence per Ordinary Share.

Richard Mansell-Jones, Chairman of Amphion, received 110,519 ordinary shares, bringing his total holdings of the Company to 2,967,107 representing 2.26% of the Company’s enlarged issued ordinary share capital.

Anthony Henfrey received 55,259 ordinary shares, bringing his total holding of the Company to 1,065,735 representing 0.81% of the Company’s issued ordinary share capital.

R. James Macaleer received 55,259 ordinary shares, bringing his total holding of the Company to 22,364,178 representing 17.01% of the Company’s issued ordinary share capital.

Admission of the 221,037 new ordinary shares, ranking pari passu, is expected on 15 April 2009. Following this allotment the total issued share capital of the Company will increase to 131,474,871 ordinary shares.

For further information please contact

Amphion Innovations plc
Charlie Morgan, Director of Communications
+1 (212) 210 6224

Cardew Group
Tim Robertson/ Jamie Milton/ Matthew Law
+44 20 7930 0777

Charles Stanley (Nominated Adviser)
Mark Taylor/ Freddy Crossley
+44 20 7149 6000

About Amphion Innovations plc
Amphion (LSE: AMP) builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK. Amphion has a significant shareholding in ten Partner Companies developing proven technologies targeting substantial commercial marketplaces, each in excess of $1 billion.    Each Partner Company is chosen with the goal of achieving an exit valuation in excess of $100 million.

On the web: