Placing

RNS Number:5290S
Horizon Technology Group PLC
26 November 2003

            HORIZON TECHNOLOGY GROUP PLC ("Horizon" or the "Group")

  Placing of 3,396,044 new ordinary shares of Euro0.07 each of Horizon Technology
                                   Group plc

           (the "New Ordinary Shares") at a price of Euro0.82 per share.

HORIZON TECHNOLOGY GROUP PLC is pleased to announce that the Company has entered
into arrangements to place 3,396,044 Ordinary Shares in the capital of the
Company (representing approximately 5% of the existing issued share capital of
the Company) at a price of Euro0.82 per share ("the Placing"). The Placing has been
arranged by Davy Stockbrokers.

It is envisaged that the proceeds of the Placing, amounting to approximately
Euro2.8 million before expenses, will be used to further strengthen the Group's
balance sheet; to enable the Group to deepen it's relationship with key
partners, and to ensure that the Group can capitalise on potential market growth
and consolidation opportunities.

Application will be made to the Irish Stock Exchange Limited and to the London
Stock Exchange plc for the New Ordinary Shares to be admitted to the Official
List of the Irish Stock Exchange and the Official List maintained by the UK
Listing Authority respectively, and to the Irish Stock Exchange and the London
Stock Exchange for admission of the New Ordinary Shares to trading. It is
expected that admission will be effective and that dealings in the New Ordinary
Shares will commence on 3 December, 2003.

Commenting on the successful placing, Samir Naji, Executive Chairman of Horizon
Technology Group plc, said "Horizon has four profitable businesses and is well
structured to take advantage of opportunities as they arise. This institutional
placing further strengthens the Group's balance sheet, allows the Group to
continue to deepen its relationship with key partners and to reap the benefits
of any market growth and consolidation opportunities. It is especially pleasing
that both existing and new institutional shareholders have contributed to this
placing."



For reference:

Paul McSharry

Financial Dynamics Ireland
Tel: [phone]
Email: [e-mail]


26 November, 2003


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