TMT Investments – Doubles stake in DepositPhotos and Gild fundraising

8th June 2012 Analyst: Emanuil Halicioglu Email: emanuil.halicioglu@gecr.co.uk Tel: 0207 562 3368 TMT Investments – Doubles stake in DepositPhotos and Gild fundraising

Key Data EPIC TMT Share Price $1.45 NMS 3,000 Spread $1.44 - $1.47 Total no of Shares 24.64 million Market Cap $35.73 million 12 Month Range $0.925 - $1.46 Market AIM Website www.tmtinvestments.com Contact Alexander Selegenev Executive Director 01534 281 843 TMT Investments has doubled its stake in DepositPhotos, the US-based privately-owned company that provides an online marketplace for buying and selling images. Furthermore, the venture capitalist also revealed that its portfolio company Gild, the US-based company focused on the recruitment of top developers, has raised c.$2.1 million through an equity financing. As TMT Investments continues to build a high quality and diversified portfolio of investments in companies that operate in high growth, internet-based sectors, we believe it has the potential to generate an attractive rate of return for shareholders. DepositPhotos TMT Investments has increased its holdings in DepositPhotos to 30% after exercising its options to acquire 413,530 shares in the business (206,764 new shares and 206,766 existing shares) for $2 million. The previous agreement, which was made on 26th June 2011, saw TMT Investments invest a total $1 million in the business for a 15% stake. Assuming that the additional investment is a good indication of the fair value of the business, TMT Investments’ initial investment has effectively doubled in value, which is extremely encouraging to see. Gild The Gild equity financing, which was led by existing shareholder Globespan Capital Partners and a number of new prominent investors, was completed at $0.0186 per share. This compares to $0.0479 per share [$325,000 (gross)], which is the price at which TMT acquired its original 3.56% stake in the business on 5th December 2011. Following the completion of the equity placement, TMT Investments will hold 2.21% of Gild’s fully-diluted equity capital. Nevertheless, with the global recruitment market estimated at more than $300 billion (source: company), we see huge potential here. We feel that Sheeroy D.Desai – who graduated from the Massachusetts Institute of Technology and helped grow revenues at his previous company, Sapient, the NASDAQ-listed professional services group, to more than $500 million – is definitely up for the task. Furthermore, we note that Gild has more than 500,000 registered software developers and a number of leading technology companies registered, including Salesforce.com, Yahoo and Oracle. This, we believe, augers very well for the company.

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