TIDMAWR 
 
1 May 2009 
 
                                 Adwalker Plc 
 
                         ("Adwalker" or "the company") 
 
                                Trading Update 
 
In the Chairman's statement that accompanied the half yearly results for the 
period ended 31 August 2008, which were announced in November 2008, the Company 
indicated that it was operating within its existing bank facilities and in 
order to continue to operate within these facilities it needed to grow its 
revenue base significantly. 
 
The Company also indicated at that time that in the event that there was 
insufficient growth in its near-term income and new funds could not be raised 
then there would be a material adverse effect on the Company's financial 
position and its operations. 
 
Although the Company is currently operating within its bank facilities, which 
comprise a term loan of EUR250,000 secured by a personal guarantee provided by 
Simon Crisp, Chief Executive Officer, and Keith Jordan, Chief Operating 
Officer, it has not been able to grow its revenue base to the extent required 
to support its existing overhead base. This has led to a significant increase 
in trade, revenue related and other creditors (including unpaid salaries for 
directors and certain members of its senior management team). 
 
In order to meet its obligations as they fall due the Company is currently 
reliant on the Directors and senior management deferring their salaries and the 
continuing support of its other creditors. In the event that any of this 
support is removed then the Company, in the absence of a significant increase 
in sales, increased bank facilities or a fundraising, will not be able to meet 
its obligations as they fall due. 
 
The Company has been in advanced stages of discussions with a multinational 
corporation regarding the rollout of an interactive surface media platform and 
had hoped to commence this rollout earlier this year. However, the prospective 
customer has requested the implementation of a small initial trial for which a 
small fee has been paid. The Board is hopeful that this trial, which is to 
commence shortly, is expected to last up to two months, will result in the 
larger rollout but there can be no certainty that a contract will be signed. 
 
The Company is also in discussions with two leading shopping mall owners in 
Ireland and the US regarding the launch of an Adwalker leasing programme, 
which, if successful, is expected to generate regular income. 
 
The Company's current Adwalker Wearable Platform (Generation 2) continues to 
generate income, albeit at a low level. 
 
In the near future the Company expects to unveil Generation 3 of the Adwalker 
Wearable Platform. The new unit will incorporate improved functionality and 
additional features. It is intended that the new unit will be made available to 
a number of new and existing customers via a pre-paid model which is expected 
to significantly minimise the financing costs of each unit. 
 
Commenting on today's update Chief Executive Simon Crisp said; " The current 
environment is extremely difficult for Adwalker. However, I believe the Digital 
Wearable sector has significant potential, hence the continued, unwavering 
support for the Company from its directors, senior management and employees. 
 
Further announcements will made in due course. 
 
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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