Issue of Equity

RNS Number:7983R
CybIT Holdings PLC
07 November 2003


                               Cybit Holdings PLC
                           ("Cybit" or "the Company")

     Placing and Additional Listing, Change of Nominated Adviser and Broker

Cybit today announces that 166,666,667 new ordinary shares of 0.1p each have
been conditionally placed with institutional investors and one private investor
at a price of 3.0 pence per share. Once completed, this placing will raise
approximately #4.85 million net of expenses for the Company.

These 166,666,667 new ordinary shares of 0.1 pence each will rank pari passu
with all other ordinary shares now in issue. Application for these new shares to
be admitted to trading on AIM has been made and admission is expected to occur
on 12 November 2003.

The net proceeds of the placing, which was oversubscribed, will be used to
reduce the Company's reliance on factoring, increase its working capital
facilities and further expand the business.

The placing is conditional upon admission of the new shares becoming effective
on or before 12 November 2003 (or such later date as the Company and KBC Peel
Hunt Ltd may agree, being no later than 17 November 2003).

Following admission, the enlarged issued share capital of the Company will be
985,211,017 ordinary shares of 0.1p each.

The Company also announces that KBC Peel Hunt Ltd has been appointed as Cybit's
nominated adviser and broker with immediate effect.

Richard Horsman, chief executive of Cybit, said:

"We are delighted that the consistent progress we have made with the business
over the past 18 months has allowed us to attract a number of 'blue chip'
institutional investors to our shareholder base. The funds raised from this
placing will allow us to accelerate our growth plans in a number of areas and
assist us as we look to further develop our recurring revenue based business
model."

For more information please contact:

Bell Pottinger Financial
Jonathon Brill/Charlotte Kirkham 020 7861 3232

KBC Peel Hunt Ltd.
Oliver Scott 020 7418 8900


About Cybit

Cybit is a leading provider of fleet management and telematics solutions,
delivering a full range of Internet-based software and support service to
private motorists, vehicle fleet managers and commercial haulage operators.
Cybit operates a number of telematics platforms, from end-to-end OEM solutions
to its own generic platform, providing satellite tracking of mobile assets via
street-level digital maps. This enables Cybit operators to obtain data and
deliver services or assistance via wireless networks for safety critical events,
accident or breakdown, as well as providing support if a vehicle is stolen, or a
driver is late or lost. By facilitating the processing of this information for
financial management purposes, Cybit then frees users up to promote best use of
existing resources.

For more information about Cybit's technology solutions, please contact Philip
Szomszor at IBA Europe on 01780 721433.



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

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