Capital Reduction Approval

RNS Number:5603L
Timeload PLC
27 May 2003


Timeload plc  ("the Company")


Following approval of the resolutions at the Extraordinary General Meeting on 22
April 2003, the Company announces that it has now received approval for the
Capital Reduction following confirmation of the registration of the order of the
High Court of Justice.


As set out in the circular sent to shareholders on 28 March 2003, this will
enable the Company to effect the Tender Offer of up to 40 per cent. of the
issued share capital of the Company and accordingly it is anticipated that:


*  the Tender Offer;

*  the Capital Reorganisation;

*  the completion of the acquisition of COE Limited; and

*  the admission of the new ordinary shares of 5p each
(including the new ordinary shares of 5p each issued to the shareholders of Coe
Limited) to trading on AIM

will become effective on Wednesday 28 May 2003.

For further information, please contact:

Paul Dudley                                            01895 457 400

Suzanna Temple-Morris

Timeload plc


Robin Binks                                            020 7438 3000

Deloitte & Touche Corporate Finance

Deloitte & Touche Corporate Finance is acting for Timeload as sponsor in
connection with the acquisition of COE Limited and as nominated adviser in
relation to the admission to AIM and for no-one else and will not be responsible
to anyone other than Timeload for providing the protections offered to clients
of Deloitte & Touche Corporate Finance nor for providing advice in relation to
the acquisition or admission to AIM. Deloitte & Touche Corporate Finance is a
division of Deloitte & Touche which is authorised and regulated by the Financial
Services Authority in respect of regulated activities.

END

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