Acquisitor Holdings (Bermuda) Ltd
04 May 2004


                                                                      4 May 2004


                       ACQUISITOR HOLDINGS (BERMUDA) LTD.
                  (Ticker: Reuters AOB.L or Bloomberg: AOB LN)


              ACQUISITOR HOLDINGS (BERMUDA) LTD NOTES ANNOUNCEMENT
                        FROM BALTIMORE TECHNOLOGIES PLC


Acquisitor Holdings (Bermuda) Ltd. ("Acquisitor Holdings") has noted today's
announcement by Baltimore Technologies plc ("Baltimore" or "the Company").

The Statement provides further evidence that the Management of Baltimore believe
they are in a desperate situation. David Buchler, Duncan Soukup, Tim Lovell,
Robin Williams and George Wardale are all willing to act as directors of
Baltimore, and the Baltimore extraordinary general meeting will still be held on
6 May 2004. Acquisitor's proposals to remove the existing Board of Baltimore
will still be put forward for a vote.

Acquisitor Holdings strongly believes that the direction the current Baltimore 
Board wants to take the Company in is wholly inappropriate.

Duncan Soukup, deputy chairman of Acquisitor Holdings, said: "Baltimore
shareholders have an extremely important decision to make, and we eagerly await
the vote."


Further information can be obtained at www.baltimoreaction.com


Enquiries

Gavin Anderson & Company                     020 7554 1400
Neil Bennett / Ken Cronin / Janine Brewis

Information on Acquisitor Holdings can also be obtained at:
www.acquisitorholdings.com



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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