Issue of Equity

RNS Number:3542K
AFA Systems PLC
24 April 2003


AFA Systems PLC Issue of Equity.

On 27 February 2001, AFA Systems plc ("AFA"), the AIM listed provider of
software solutions for global financial markets, announced the completion of its
acquisition of Smacsoft Group Limited ("Smacsoft"). As part of the terms of this
acquisition, AFA entered into a put and call arrangement with the management
shareholders of Smacsoft (the "Arrangement") requiring AFA to issue
approximately 2.2 million new ordinary shares (or part thereof) of 25p each in
AFA.  On 30 January 2003, AFA completed a capital reorganisation, whereby each
share of 25p each was split into one ordinary share of 5p and one deferred share
of 20p.  At this time, there were 1,410,000 new ordinary shares un-issued under
the Arrangement.

AFA now announces that it has issued, conditional on their being listed on AIM,
1,410,000 new ordinary shares of 5p each, pursuant to the above option
arrangements.  The issue of these new ordinary shares represents the final issue
of shares in connection with the Arrangement, and the issue of the final
consideration for the acquisition of Smacsoft.   No deferred shares of 20p have
been issued.

Application has been made for these new ordinary shares, which will rank pari
passu in all respects with the existing ordinary shares, to be admitted to AIM.
It is expected that listing will become effective and that dealings in the new
ordinary shares will commence on 1 May 2003.

Enquiries:
AFA Systems plc

Mike Hart/Henry Sallitt
                            020 7337 7250


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