Trading Statement & EGM

RNS Number:6701H
CybIT Holdings PLC
19 February 2003

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

                      Trading Statement and Notice of EGM


The Company has today written to shareholders with a notice convening an
Extraordinary General Meeting ("EGM") to be held on 13 March 2003, and has
included the following trading statement:

Trading Statement

The Company continues to build on its position as one of the fastest growing
Telematics Service Providers ("TSPs") in the UK. Revenues for the financial year
ending 31 March 2003 are expected to be in the region of #5 million.

Cybit has continued to win significant new contracts over competitors and repeat
orders from existing customers. This has helped the Company to develop a growing
forward order book that will underpin first half performance in the next
financial year.

Revenues generated from partnerships are increasing and the Company expects
further announcements in this area during 2003.

The Directors see an increased appreciation of the strategic business value
offered by telematics based asset management solutions which is translating into
an increase in both current business wins and an enhanced pipeline of
prospective users. This combined with a number of potential acquisition
opportunities which the Board are evaluating gives great confidence in the
continuing success of Cybit and leaves the Company well placed to exploit
expected growth in the market.

Notice of EGM

The EGM has been called for the following purposes:

 1. to reorganise the Company's ordinary share capital (the "Capital
    Reorganisation"), effectively reducing the nominal value of an ordinary
    share from 1p to 0.1p, by sub-dividing every issued ordinary share of 1p
    into one ordinary share of 0.1p and one deferred share of 0.9p and
    sub-dividing each of the unissued ordinary shares of 1p into 10 ordinary
    shares of 0.1p (and to alter the Articles of Association of the Company
    accordingly); and

 2. conditional upon the passing of Resolution 1, to substitute and renew the
    existing authority of the Company pursuant to Section 95 of the Companies
    Act 1985 (dis-application of statutory pre-emption rights).

If passed, the resolutions will provide the Company with greater flexibility in
financing its future, as it will afford the Directors the authority to issue
shares of the Company for cash to prospective investors, if opportunities to do
so arise. In view of the Company's stated strategy, the Board considers such
flexibility of great importance.


Enquiries


Richard Horsman, Chief Executive, Cybit Holdings plc     01480 389100

Mark Percy/Jeremy Porter, Seymour Pierce Limited         020 7648 8700

Billy Clegg, Bell Pottinger Financial                    020 7861 3232



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