AWR Adwalker

    30 September 2008

                                 Adwalker Plc                                  

                         ("Adwalker" or "the company")                         

                                Trading Update                                 

As stated in the announcement on 29 August 2008, the Company is currently
operating within its existing bank facilities and in order to continue to
operate within these facilities the Company needs to grow its revenue base
significantly. However, the level of income generated in September was
significantly lower than management expectations. The expected near-term growth
in income in the Company's core business, the leasing of the Adwalker platform,
is heavily dependent on the advertising budgets of its global media partners.

The uncertain economic environment and the potential adverse effect this may
have on the timing and level of spending of Adwalker's customer base makes it
very difficult for the Directors to forecast the level of future income with
any degree of accuracy.

While the Directors remain optimistic that the effect of these factors will be
limited in the medium term and the shortfall in income experienced in September
may be recovered in future months, the Directors intend to commence discussions
with a number of parties, including the Company's bankers, with a view to
securing the necessary working capital so that the business can continue to
meet its obligations as they fall due.

In the event that there is insufficient growth in near-term income and Adwalker
is unsuccessful in securing additional bank facilities and/or raising the
necessary finance then there will be a material adverse effect on the Company's
financial position and operations.

Enquiries:

Adwalker plc Tel: +353 (1) 866 9000

Simon Crisp

simon@adwalker.com

John East & Partners Limited Tel: 020 7628 2200

Simon Clements/David Worlidge

                                     

END

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