Director Dealing
06.12.07

Directors Dealings PDMR Shareholding

As was envisaged at the time of the Admission to AIM, Applied Intellectual
Capital announces that the three founder-directors of the Company, Stephen
Clarke, Robert Clarke and Darron Brackenbury, each sold 5.6% of their holdings
yesterday, at a price of 260 pence per share. This disposal was in response to
significant institutional demand.

Director No. of shares sold % of each director's shareholding

Stephen Clarke 388,666 5.6%
Robert Clarke 388,667 5.6%
Darron Brackenbury 388,667 5.6%

Following these disposals, their respective holdings are as follows:

Director No. of shares held post % of total issued share capital
disposal post disposal

Stephen Clarke 6,611,334 15.6%
Robert Clarke 6,611,333 15.6%
Darron Brackenbury 6,611,333 15.6%

FOR FURTHER INFORMATION PLEASE CONTACT

Applied Intellectual Capital
Dr. Stephen Clarke
Tel. +1 510 463 0211

Mirabaud Securities Limited
Tel. +44 (0) 20 7321 2508
Peter Krens

Nabarro Wells & Co. Limited
Tel. +44 (0) 20 7710 7400
Marc Cramsie
John Wilkes

Pelham Public Relations
Charles Vivian Tel. +44 (0) 20 7743 6672 / +44 (0)7977 297903
Archie Berens Tel. +44 (0) 20 7743 6679 / +44 (0)7802 442486