WINTERFLOODS TO MAKE MARKETS IN ALL 
                                OFEX SECURITIES

The OFEX Membership Committee is pleased to announce the approval of the
application from Winterflood Securities ("WINS") to join the OFEX market place
as a market maker member - a "specialist".

The approval is conditional upon the move of the OFEX market into a competing
quote driven system during 2004, and is therefore subject to appropriate
regulatory and technical approvals. Once these  issues are resolved, WINS have
undertaken to make a market in all OFEX securities. WINS have also agreed to be
represented on an OFEX advisory board, which is currently being put in place.
This will enhance consultation with our members to ensure any change to the
existing market model is implemented in a manner that benefits all members of
the OFEX community.

Jonathan Jenkins, Joint MD of OFEX said: "WINS is a name synonymous with small
cap company trading  and we are delighted that they have committed themselves
so fully to the expansion of the OFEX market. Existing specialists - Teather &
Greenwood Ltd and J P Jenkins Ltd - have also formally agreed to move to
competing quotes in 2004, and we have at least one further organisation in the
specialist application process, subject to the move to a competing model. It is
envisaged that all of these specialists will be represented on the advisory
board."

Julian Palfreyman, Managing Director of Winterflood Securities, commented:  "We
are pleased to join OFEX and we look forward to offering a market making
service in all OFEX securities. This will bring further benefits to our clients
not only through the enhancement of our already substantial coverage of UK
equities but also by opening up access to OFEX securities via Winner - our
electronic trading service."

More details about the advisory board's structure, members and aims will be
released as appropriate.

NOTES TO EDITORS

ABOUT WINTERFLOOD SECURITIES LIMITED

Formed in 1988, Winterflood very quickly achieved success as a small cap market
maker. Today Winterflood is one of the leading market makers in London. 

A subsidiary of Close Brothers Group, Winterflood provide an unparalleled level
of service to the retail market and is established as the dominant Retail
Service Provider (RSP). Winner, our electronic trading engine offers extensive
stock coverage in nearly all UK securities, leading international stocks,
covered warrants, UK gilts and bonds thereby providing a one-stop shop for UK
stockbrokers and private asset managers. Either electronically or over the
telephone Winterflood provides a unique blend of immediacy and flexibility to
its clients.

Winterflood Securities Limited is regulated by the Financial Services
Authority.

For further information please contact Julian Palfreyman on 020 7621 0004 or
enquiries@wins.co.uk
Website address:  www.wins.co.uk

ABOUT OFEX

OFEX plc operates the OFEX market in the United Kingdom.  The OFEX market
provides a share trading platform for the securities of unlisted and unquoted
companies.  OFEX plc is authorised and regulated by the Financial Services
Authority. In its brief history, OFEX has created a market in which over 450
companies have raised over GBP1bn using the broad membership of Member
corporate advisers and broker/dealers.  

OFEX Holdings plc successfully floated on the London Stock Exchange's
Alternative Investment Market in late April 2003.

For further information please contact Jonathan Jenkins on 020 7423 0800 or
enquiries@ofex.com



END