Variation of LTIP

RNS Number:3832N
Horizon Technology Group PLC
06 December 2006

                          Horizon Technology Group plc


Dublin: HOR.I                    London: HOR.L                     ADR OTC:HZNTY






                     Variation to Long Term Incentive Plan





                                             6 December, 2006, London and Dublin





The board of Horizon Technology Group plc, a leading system integrator and
distributor of information technology products in the UK and Ireland, announces
that it will meet its obligation under Cathal O'Caoimh's Long Term Incentive
Plan ("LTIP") by means of a cash payment. As a result, Mr O'Caoimh has agreed to
forfeit his entitlement to 1,250,000 share options issued between 2001 and 2004
and will instead receive a cash payment of Euro762,000. The board decided based on
the recommendation of the remuneration committee that it was in the interest of
all shareholders to make the cash payment which will avoid an EPS dilution of
1.5%.



As previously disclosed in the Company's financial statements, a five-year LTIP
was established to assist the group in the recruitment of Mr O'Caoimh in 2001.
Under the terms of the LTIP, he was to receive a payment in 2006 if certain
performances targets were achieved and if the excess of the market value of the
relevant options (1,250,000 share options issued between 2001and 2004) over the
cost of exercising those options did not exceed Euro762,000. The amount of the
payment was to be the difference between Euro762,000 and the gain on the options.
All the performance targets were achieved and Mr O'Caoimh was therefore entitled
to exercise the relevant options. This transaction was effective on 5 December
2006 and following this variation to the LTIP, Mr O'Caoimh retains share options
over 670,000 ordinary shares, representing 0.8% of the share capital of the
group.







For further information please contact:


Horizon Technology Group plc

Gary Coburn, Chief Executive Officer                            353 1 620 4900

K Capital Source

Mark Kenny/Jonathan Neilan                                      353 1 631 5500





ABOUT HORIZON

Horizon Technology Group plc is a leading technical integrator and distributor
of information technology products in the UK and Ireland. For more information
about Horizon Technology Group plc, visit www.horizon.ie.


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