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RNS Number:9049F
Hot Tuna (International) plc
10 July 2006


Press Release                                                       10 July 2006


                                     


                          Hot Tuna (International) PLC


                         ("Hot Tuna" or "the Company")


              Appointment of Elle Macpherson as Executive Director


Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authentic
surf heritage, is pleased to announce that Elle Macpherson has been appointed as
an Executive Director of the Company with immediate effect.


In Elle Macpherson's capacity as an Executive Director, she will advise and
assist with the future product development, brand positioning and sales
strategy. Elle Macpherson will work alongside Hot Tuna's existing management in
dealings with its customers, suppliers and stakeholders.


Elle Macpherson will attend Board meetings and will also be present at senior
management and strategic meetings. Although not working in a full time capacity
with Hot Tuna, Elle Macpherson will work in conjunction with senior management
to introduce and develop new retail relationships and heighten the Company's
position within its industry. Elle Macpherson's service contract has a fixed
initial term of two years.


Elle Macpherson has been granted a number of incentive arrangements. Frontier
International (Holdings) Pty Limited ("Frontier") has granted Elle Macpherson a
call option which is exercisable at any time for nominal consideration over
1,000,000 of its ordinary shares in the Company. Frontier has also agreed to
grant Elle Macpherson a second call option (the "Second Frontier Call Option")
over a further 1,000,000 of its ordinary shares in the Company in one year's
time, exercisable at any time thereafter for nominal consideration, provided
that Elle Macpherson is still an Executive Director and employee of the Company
and has not given in her notice at that date.


Elle Macpherson has agreed to be subject to certain lock-in restrictions on sale
of shares in the Company. Elle Macpherson may not dispose of any shares which
she may obtain (whether by way of exercise of a call option or option to
subscribe or otherwise) for a period of 12 months from 7 July 2006 and will be
subject to orderly marketing restrictions for a period of a further 12 months.
In addition, any shares obtained by her exercising the Second Frontier Call
Option in the period between 7 July 2007 and 7 July 2008 shall be subject to a
lock-in restriction on sale until 7 July 2008 and orderly marketing restrictions
for a period of one year thereafter, except that if at any time in the year to 7
July 2008 the Company's share price reaches 150p per share this restriction on
sale will fall away, although she would remain subject to the orderly marketing
restrictions.


In addition, the Company has granted Elle Macpherson options to subscribe for up
to 2,000,000 ordinary shares in the Company. Of these options, 500,000 options
will be immediately exercisable at an exercise price of 50p per share, 500,000
options will be exercisable after 7 July 2007 at an exercise price of 50p per
share, 500,000 options will be exercisable after 7 December 2007 at a price of
75p per share and 500,000 options will be exercisable after 7 July 2008 at an
exercise price of 75p per share. All options are exercisable for a period of
five years. Any unexercised options will lapse in the event of Elle Macpherson
ceasing to be a director or employee of the Company other than in certain
specified circumstances. Frontier has also with immediate effect agreed to
extend the period for which it is subject to lock-in restrictions on sale of its
shares to 7 July 2008 with a period of twelve months orderly market restrictions
after that. Ranjit Murugason, Tony Oxley and James Podaridis have similarly
agreed to extend their lock-ins to 7 July 2007 with a period of twelve months
orderly market restrictions after that.

Commenting on the appointment, Ranjit Murugason, Chairman of Hot Tuna, said: "I
am delighted to announce this significant appointment in the Company's
evolution. The appointment of Elle Macpherson brings to the Company a dynamic
dimension and appreciation of developments in surf and youth fashion and will
boost awareness of the Hot Tuna brand and also significantly strengthen the
Company's consumer and business relationships.


"This is also a great deal for our shareholders as the structure of the option
package with Frontier ensures that there is no dilution on the exercise of the
options they have granted Elle Macpherson. Additionally, the fact that lock-in
restrictions on some of the shares Elle Macpherson will obtain fall away at a
price per share of over 150p, demonstrates Elle Macpherson's confidence in our
business."



Commenting on her appointment as an Executive Director of Hot Tuna, Elle
Macpherson said: "I believe this to be a maverick and dynamic union. Hot Tuna is
a brand with a great Australian heritage, irreverent and edgy. It has a right to
claim its place in the modern surf lifestyle market. I am delighted to have the
opportunity to work with the team at Hot Tuna and be part of the innovations and
energy that they have put into the re-launch of what I know will be a major
success as a youth fashion surf brand."



Elle Macpherson is not currently a director or partner, nor has been a director
or partner within the last 5 years, of any companies or partnerships.



There are no other details to be disclosed under AIM Rules Schedule 2 (g).



                                    - Ends -


For further information:
Hot Tuna (International) PLC
Ranjit Murugason, Chairman                           Tel: +44 (0) 20 7372 9378
ranjit_murugason@hottunaplc.com

Seymour Pierce Limited
Sarah Wharry / Parimal Kumar                         Tel: +44 (0) 20 7107 8000
parimalkumar@seymourpierce.com                       www.seymourpierce.com
                                                       
Media enquiries:
Abchurch
Henry Harrison-Topham / Chris Lane                   Tel: +44 (0) 20 7398 7700
henry.ht@abchurch-group.com                          www.abchurch-group.com
                                                        























                                Notes to Editors


Hot Tuna International PLC (AIM: HTT) owns the rights to the Hot Tuna brand, a
progenitor of global youth fashion, born in Australia with a heritage of
authentic surf culture.


Hot Tuna is one of the world's most iconic names in surf lifestyle and can trace
its roots back to 1969 when it was founded by a surfer and his fashion designer
wife. The label has not been actively marketed over for the last decade, but has
maintained an organic cult status among the core surf and sports enthusiasts.


In June 2005, Hot Tuna International PLC purchased the 'Hot Tuna' brand from a
consortium of investors, listed it on AIM in September 2005, and has since
started to aggressively market the brand and reinvigorate the business. The
Company now owns all intellectual property rights to its name and related
iconography, and has in place key management drawn from the executive ranks of
Quiksilver, O'Neill and Ocean Pacific, among others.


While headquartered in the UK, Hot Tuna operates its design, manufacturing,
marketing and distribution hub in the USA. Hot Tuna sells product, which it
directly manufactures in facilities in the USA, the European Union and in China.


Hot Tuna maintains offices in Sydney, Los Angeles and London.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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