Proposed Return of Value

RNS Number:1068L
Axiomlab PLC
14 May 2003






                  Axiomlab plc ("Axiomlab" or the "Company"):

                    Proposed Return of Value to Shareholders


The Board of Axiomlab has noted the recent movement in the Company's share
price. The Board is currently examining a proposal which may or may not lead to
Axiomlab shareholders being offered the opportunity of a return of value in
Axiomlab (the "Proposal"). The Proposal was instigated as a result of the
continued poor performance of Axiomlab's share price and the limited liquidity
available to Axiomlab shareholders.


Under the Proposal, it is intended that Axiomlab shareholders will be given the
option to either receive, in exchange for cancellation of their shares, their
pro rata entitlement to the Company's uncommitted net cash or to roll over all
or part of their holding into a new private vehicle whose shares will not be
listed on any recognised investment exchange. Any return of capital is likely to
be governed by a Court procedure.


As at 30 April 2003, Axiomlab's uncommitted net cash stood at approximately #5
million. After taking into account the ongoing monthly operating costs of
Axiomlab and the costs associated with the Proposal, the Board of Axiomlab
estimates that such return of value, if indeed effected, is likely to amount to
approximately 0.85p per Axiomlab share.


Further details regarding the Proposal will be announced to Axiomlab
shareholders as soon as practicable.










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

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