Issue of Equity

RNS Number:0976K
Envesta PLC
16 April 2003




Envesta plc ("Envesta" or "the Company"), the alternative telephony provider,
announces that it has completed a placing of 17,500,000 shares to raise #297,500
before expenses.  The capital will be used to develop the niche overseas
products and markets that Seven Telecom, Envesta's wholly owned subsidiary, has
identified, specifically the European calling card market and call-back services
from Asia and Africa where it has recently agreed contracts giving it access.



The shares are being placed at 1.7 pence and represent 9% of the enlarged share
capital of Envesta.



Kevin McGovern, Finance Director of Envesta, said: "We will be using the money
raised to invest in product development in Seven Telecom.  As we reported at our
interim results in March, Seven Telecom has continued to expand and diversify
its product range by identifying niche products and markets that it can exploit.



"We are committed to developing Envesta as a broad based alternative telephony
provider both through organic growth and acquisitions that satisfy our strict
criteria of being synergistic with Seven Telecom and cash generative. Various
discussions are being held with target companies."







Notes to editors:

Highlights of interim results for the six months ended 31 December 2002


*   Group turnover increased 284% to #5,837,862 (2001: #1,520,309)

*   Group operating profit on ordinary activities before taxation of
    #69,395 after goodwill amortisation of #340,412, generated by the 
    acquisition of Seven Telecom (2001: #174,633)

*   Average monthly revenues from Happy Talk and similar Premium Rate
    Service products grew by 104%



For further information please visit www.envestaplc.com or contact:


Kevin McGovern, Finance Director                Melissa Hubbard
Envesta plc                                     Tavistock Communications
Tel: [phone]                              Tel: [phone]
e-mail: [e-mail]           e-mail: [e-mail]





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