Wind-down of NASDAQ Europe - OFEX offers free transfer

In response to the decision by the shareholders of NASDAQ Europe to discontinue
operations of that Market, OFEX reaffirms that its existing offer to allow free
transfer from ISD regulated markets will be available to issuers currently
traded on NASDAQ Europe. OFEX's offer waives the application fee and annual fee
for the remainder of 2003 to allow issuers to provide a market for their
securities once they have left an ISD regulated market. OFEX has contacted the
constituents of NASDAQ Europe to advise them of this offer.

Peter Freeman, Director of Markets at OFEX, said today "OFEX has consolidated
its position as the second largest junior equity market in Europe, behind the
Alternative Investment Market (AIM) whilst other markets, such as Neuer Markt
and now NASDAQ Europe, have withdrawn. Grant Thornton's Global New Markets
Guide 2003 noted that 12 junior equity markets had failed to attract more than
five companies to trading. In nearly eight years, OFEX has been used by over
450 issuers and more than GBP1 billion of equity has been raised. Grant
Thornton's prediction of closures of unsuccessful bourses continues to hold
true, however OFEX will be here to offer a market for the shareholders of these
displaced companies."

Notes for editors

The OFEX Market is operated by OFEX plc, which is a company authorised and
regulated by the Financial Services Authority. OFEX plc is a wholly owned
subsidiary of OFEX Holdings plc, which is traded on AIM.

OFEX is a regulated market under the Criminal Justice Act 1993 in relation to
Insider Dealing, and a prescribed market for the purposes of the market abuse
regime under the Financial Services and Markets Act. OFEX is also a 'relevant
market' for the purposes of the Financial Promotions Order.

For more information please contact

Peter Freeman, Director of Markets and Compliance, OFEX plc, telephone number
020 7423 0800

Leanne Tritton, ING Media, telephone number 020 7247 8334





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