Maintain listing on AIM

RNS Number:8324L
Weatherly International PLC
03 June 2003


                          Weatherly International plc
             Statement regarding development of arbitration claims
                                      and
                      intention to maintain listing on AIM



The Board of Weatherly International plc ("Weatherly"or the "Company") today
announces that, having reviewed its recent announcement on 1st May 2003, it has
decided to maintain its listing on AIM.

The reasons for this are as follows:

(i) On 10 January 2002 Weatherly reported that its principal operating
subsidiary Weatherly Securities Corporation had become the subject of a series
of substantial arbitration demands from customers seeking compensatory and
punitive damages.  These claims principally arose out of the operations of its
former Garden City branch office whose operations ceased in October 2001.

(ii) On 8th March 2002 the directors announced that since that report, further
compensatory and punitive damage claims had been received.

(iii) On 27 August 2002 the directors announced that the operating subsidiary
would be closed down and they would examine opportunities for the future of
Weatherly for which further announcements would be made in due course.

(iv) On 1st May 2003 the directors announced that they had reluctantly decided
to delist the company effective June 3rd 2003 as no new opportunities had come
to fruition. A significant reason for this was the outstanding arbitration
claims which, at that time, precluded any opportunities being meaningfully
progressed.

(v) Weatherly's US counsel has since advised: "that Weatherly International is
not a party to any arbitrations or litigation in the United States. Because
Weatherly International is not a member of the NASD (National Association of
Securities Dealers), the NASD has no jurisdiction over the company and cannot
permit claims against Weatherly to be arbitrated pursuant to its Code of
Arbitration".

The directors believe the consequence of this advice is that opportunities
previously under evaluation may now be pursued. The directors believe these are
better facilitated whilst the Company maintains its listing on AIM. It is
intended that such discussions will include the recapitalisation of the Company,
however the Board wishes to point out that the potential for the Company as an
ongoing concern, if discussions do not prove fruitful in the near term, are
extremely limited.

A further announcement will follow in due course.

Enquiries:
Jack Najarian - CEO: 001 917 597 24 25



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