GFF Griffin Grp.

RNS Number:0943C
Elite Strategies PLC
18 August 2004

For immediate release                                             18 August 2004


                        Elite Strategies PLC ("Company")

                                 Share placing

The Company announces that its brokers, Seymour Pierce Ellis Limited, have
placed 750,000,000 ordinary shares of 0.05p each in the Company ("Ordinary
Shares") with a number of investors at an issue price of 0.1p per Ordinary
Share, to raise #750,000 before expenses (the "Placing"). Griffin Securities
(UK) Limited ("Griffin Securities"), part of the Griffin Group plc group, an AIM
traded corporate finance boutique, has subscribed for 100,000,000 Ordinary
Shares pursuant to the Placing. Accordingly, Griffin is now interested in a
total of 170,000,000 Ordinary Shares representing approximately 8.36% of the
Company's issued Ordinary Shares. Application will be made for the new Ordinary
Shares being issued pursuant to the Placing to be admitted to trading on AIM.

The Placing will provide the Company with additional funds in order to enable
the Company to provide the loan of up to #1,500,000 by way of subordinated
secured convertible loan notes (the "CULs") to Retec (Europe) Limited ("Retec")
announced on 17 August 2004, as well as to provide additional working capital.

ENDS

For information please contact:

Vince Nicholls, Elite Strategies: Tel: 07767 420160

Nominated Adviser:

Michael Cornish, Beaumont Cornish Limited Tel: 020 7628 3396




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

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