Rugby Estates Plc (the "Company")

30 July 2010

Result of General Meeting and Total Voting Rights

At the General Meeting of the Company held at 10.00 a.m. today, resolutions 1, 2 and 3 were duly passed, including the special resolutions to reorganise the Company's share capital in order to effect the return of cash to shareholders of 175p per ordinary share and to authorise the Company to purchase its own shares. Resolution 4, being a special resolution regarding the dis-application of pre-emption rights, was not passed by shareholders.

The return of cash is conditional on the reduction of capital being confirmed by the Court and a hearing of the Court is scheduled for 18 August 2010. Should the confirmation from the Court be forthcoming it is expected that the reduction of capital will become effective on 19 August 2010 and the return of cash to shareholders will proceed with payments expected to be made by 2 September 2010. In addition, the associated share capital consolidation would be expected to take effect on 19 August 2010 at which time the new ordinary shares of 15p each arising from the share capital reorganisation are expected to be admitted to trading on AIM following the cancellation of trading on AIM of the existing ordinary shares of 15p each at 4.30 p.m. on 18 August 2010.

Additional Listing and Total Voting Rights

In order to facilitate the share capital consolidation, the Company has today issued and allotted two ordinary shares of 15p each at a price of 330.5p. Therefore, the Company's issued share capital now consists of 11,473,575 ordinary shares with a nominal value of 15p each with voting rights. The Company holds no ordinary shares in Treasury. Therefore, the total number of voting rights in the Company is 11,473,575 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Application has been made to the London Stock Exchange for the two ordinary shares to be admitted to trading on AIM and admission is expected to take place on 5 August 2010.

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