Further re Issue of Equity

RNS Number:1518O
Formjet PLC
28 June 2005


For immediate release 28 June 2005

                                  Formjet plc
                          ('Formjet' or 'the Company')
                          Further re: Issue of Equity

On 28 April 2005, the Company announced a placing to raise #0.9m, at 6.75 pence 
per new Ordinary Share. The Company has now received provisional assurance from 
the Inland Revenue that the Company ranks as a qualifying investment for EIS 
and VCT purposes. Accordingly it has agreed terms for a further placing of 
6,000,000 new Ordinary Shares by the Company with a number of institutional 
investors, through Daniel Stewart & Company PLC ('Daniel Stewart'), in order to 
raise approximately #0.4 million (before expenses) also at a price of 6.75 
pence per new Ordinary Share.

Reasons for the Placing

The proceeds of the Placing will provide capital for new distribution
opportunities, strategic acquisitions of complementary businesses and will 
strengthen the Company's shareholder base.

Terms of the Placing

Conditional, inter alia, on the Placing Shares being admitted to trading on 
AIM, Daniel Stewart has conditionally placed 6,000,000 new Ordinary Shares with 
institutional investors at a price of 6.75 pence per Placing Share, to raise 
approximately #0.4 million before expenses. The Placing is not being 
underwritten.

The Placing Shares will rank pari passu with the Existing Ordinary Shares. 
The Placing Shares are expected to be admitted to trading on AIM on 1 July 2005.

Placing statistics:

Placing price 6.75p
Number of Placing Shares 6,000,000
Estimated net proceeds of the Placing #384,000
Percentage of enlarged share capital represented by the Placing Shares 6.9%
Number of Ordinary Shares in issue following the placing 86,991,338

Enquiries to:

Lyndon Chapman                          Simon Hudson/Clemmie Carr
Chairman & Chief Executive Officer      Tavistock Communications
Formjet plc                             Tel: [phone] or 07966 477256
Tel: [phone]

Lindsay Mair / Tom Jenkins
Daniel Stewart & Co Plc
Tel: [phone]






Notes to Editors:

Formjet acquires territorial rights to 'alternative' software products and
markets, sells, distributes and supports these products in the UK and
internationally, standing in place of the vendor. The business model has been
built around its current UK rights to Panda anti-virus and Internet security
software. Formjet has a family of alternative software products, which now
includes Panda antivirus products, FileStream and Ability.



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

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