Result of EGM

RNS Number:6746S
AFA Systems PLC
01 December 2003


Monday, 1 December 2003

                                 AFA Systems plc

                                 Result of EGM
                       Completion of acquisition of SAMS

Result of EGM and Completion of acquisition of SAMS

AFA Systems plc, the AIM listed global provider of advanced software solutions
for the Banking and Asset Management industries, is pleased to announce that, at
its Extraordinary General Meeting held earlier today, the Ordinary and Special
Resolutions in respect of the placing of 10,000,000 new ordinary shares at 17
pence per share to raise #1.7 million were duly passed.

Application has been made for the New Ordinary Shares, which will rank pari
passu with the Ordinary Shares, to be admitted to AIM and trading is expected to
commence on 2 December 2003.

As a result of the passing of the Resolutions, and satisfaction of the
conditions to, and completion of, the Placing, the Acquisition of Strategic
Asset Management Solutions Limited ("SAMS") announced on 7 November 2003, has
been successfully completed today.

All definitions of terms used in this announcement are as set out in the
circular to AFA shareholders dated 7 November 2003.

Board Changes

We have separately announced today two board changes.

Mike Hart, Chairman & Chief Executive of AFA, commented:

"The proceeds of the Placing will generate additional working capital for the
business as it integrates SAMS into the Group and will enable AFA to continue to
position itself as well as possible for the anticipated upturn in the markets,
the first indications of which are already being seen in terms of new order and
enquiry levels."

                                    - Ends -

For further information please contact:

AFA Systems plc 020 7337 7250                                    020 7337 7250
Mike Hart, Chairman & Chief Executive                      www.afa-systems.com
Henry Sallitt, Finance Director

Bridgewell Limited                                               020 7003 3000
Greg Aldridge/Nick Lovering

Weber Shandwick Square Mile                                      020 7067 0700
Reg Hoare/Sara Musgrave



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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