The Board of Smart Metering Systems plc (AIM: SMS.L), the integrated metering services company that connects, owns, operates and maintains current generation and new advanced metering assets and databases, announces that it has been notified that Kevin Lyon, Chairman and Non Executive Director and Nigel Christie, Non Executive Director, have on 28 June 2013 exercised their respective entitlements over 328,125 share options and 210,000 share options all at an exercise price of 60p per share.

Mr Lyon and Mr Christie have resolved that, in recognition of the performance of the SMS business over the past two years since the flotation of the Company on AIM, they will surrender their remaining options - representing 109,375 shares and 70,000 shares respectively (the Surrendered Options) for no consideration, to allow the Company to grant to certain SMS employees an identical number of share options on substantially identical terms to the Surrendered Options as they existed immediately prior to surrender (including at the original exercise price of 60p per share). These employees include Glen Murray, CFO, who has been granted options over 28,700 shares at this exercise price. The date of the grant of the options is 28 June 2013.

Application will be made to the London Stock Exchange for the 538,125 ordinary shares issued to Mr Lyon and Mr Christie, which will rank pari passu with the existing shares in issue, to be admitted to trading on AIM with admission expected to become effective on 4 July 2013. Following the exercise and transfer above, Mr Lyon will be interested in 453, 125 ordinary shares and Mr Christie will be interested in 290,000 ordinary shares. They will have no further share options in the Company outstanding.

Following admission, the Company will have 83,877,872 ordinary shares outstanding. The figure of 83,877,872 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

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