Change to terms of loan

RNS Number:5387B
Aquilo PLC
03 August 2007



                     Aquilo plc ("Aquilo" or the "Company")

                            Change to terms of loan


Further to the announcement dated 20 June 2007 which lay out the terms of a 12
month loan of #1.5m from existing shareholder, Veer Palthe Voute NV ("VPV"), the
Company would like to announce that the terms of this loan have been altered.
The original 6% arrangement fee, payable in cash, has been waived with the
equivalent value of warrants being issued in its place, exercisable at the
current Aquilo share price. The warrants if exercised will increase VPVs current
shareholding by 514,286 Ordinary shares.

The alteration to the terms of the funding constitutes a related party
transaction for the purpose of the AIM Rules by virtue of VPV being a
substantial shareholder in the Company. The Board of the Company consider,
having consulted with Noble & Company Limited, the Company's nominated adviser,
that the new terms of this transaction are fair and reasonable insofar as the
Company's shareholders are concerned. In advising the Board, Noble has relied
upon the Directors' commercial assessments and the Company's current financial
position.

In addition to the above, the Company wishes to announce that it has received an
approach for its IT Solutions ("ITS") business, which may or may not lead to the
disposal of this subsidiary. The Board continues to discus with shareholders
additional funding arrangements in respect of the disposal of ITS.

The Company's other principal trading subsidiary, AIRS, is seeing strong demand
at present as a result of a combination of flood related repair work, new
contracts and the increase in business being referred by existing customers.
However, in view of the costs associated with the maintenance of the quote on
AIM and the low market capitalization of the Company, the Board is considering
the option of cancelling the Company's quotation. Any such cancellation would
be subject to 75% shareholder approval. A further announcement will follow.



For further information please contact:

Chris Langridge, Chairman, Aquilo plc      Tel: 020 3008 5511

John Riddell, Noble & Company Limited      Tel: 020 7763 2226





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