RNS Number:6317H
Timeload PLC
18 February 2003

                                                                18 February 2003



                   Timeload PLC ("Timeload" or the "Company")

     Suspension of listing of shares pending announcement of full terms of

                     reverse takeover and return of capital



The Board of Timeload announces that it has entered into a Letter of Intent in
relation to the proposed acquisition of a premium provider of technology for
managed video networks ("Target"). Target focuses on the design and distribution
of transmission and control equipment for large, sophisticated systems. The
consideration will comprise new shares in Timeload only.

Due to the size of the acquisition in relation to Timeload, the proposed
acquisition will be a reverse takeover and, accordingly, under the Listing
Rules, the listing of the Company's ordinary shares has today been suspended,
pending publication of the full terms of the acquisition. It is expected that
the Company will apply to have its ordinary shares admitted to AIM.

The proposed acquisition is conditional on a number of matters including due
diligence, contract and the approval of shareholders in Timeload.

Proposals and Return of Capital

The proposals to be put to Timeload's shareholders are expected to include:

*       the return of a proportion of the cash currently held by Timeload to its shareholders, prior to completion of
        the acquisition; and

*       the acquisition of Target in consideration for the issue of new Timeload shares, leaving Timeload shareholders
        with an expected 45 per cent. of the enlarged share capital of the Company. Further Timeload shares may be
        issued to the shareholders of Target dependent upon the achievement of certain profit targets for the years
        ending 30 June 2003 and 2004.

Approvals

The proposals will be subject to the approval of existing Timeload shareholders
and, in respect of the return of part of the cash in Timeload, also to Court
approval.

Information on Timeload

Following the disposal of all of its trading assets last year, Timeload is a
shell company with no turnover generating activities. It continues to realise
debtors and to settle outstanding liabilities. As at 17 February 2003, Timeload
had free cash of approximately #5.4 million.

Further Information

If ongoing negotiations and due diligence are successfully completed, a circular
relating to the proposals, and containing information on Target, will be sent to
existing Timeload shareholders as soon as practicable.



Enquiries
Timeload plc                                   Paul Dudley                                                 01895 457 400

                                               Suzanna Temple-Morris






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