Further - QuikTrak Technology

RNS Number:2733C
QuikTrak Networks PLC
24 August 2004

24 August 2004



QuikTrak Tracking Technology



The Directors of QuikTrak Networks plc (AIM: "QTR") announce that QuikTrak has
significantly reduced its overheads in order to enable the Company to exploit
the Intellectual Property Rights of the technology and its unique software.
Following the recent private placement, the Company has the necessary cash
resources to pursue its business strategy of securing licence agreements with
prospective operators in Europe, the FSU and the Middle East.

Following a review of the costs incurred in operating the Phase I network as a
demonstration network, the Board has resolved it is not in shareholders'
interests to continue to do so. As a result, the Company's wholly-owned
subsidiary, QuikTrak Telecommunications (UK) Ltd (QTT), has been placed into
administration.  In order to be able to demonstrate the technology, the Company
has negotiated the right to use a QuikTrak network currently operating in
Australia, at a substantially lower cost.

The ability of QuikTrak Networks plc to pursue its objectives is not impacted by
this decision.

QTT has appointed Simon Thomas and Trevor Binyon of Tenon Recovery to act as
joint administrators. Thomas commented, "We are pleased to be involved and are
highly confident we can capitalise on the current position reached through many
years of developing this unique technology and secure a suitable buyer for the
existing Greater London/M25 QuikTrak network."  Any parties interested in
purchasing the business and assets of QTT should contact either Tenon Recovery
or their agent, Edward Symmons & Partners, whose details are below.

Further to the announcement made on 25 June 2004, progress continues to be made
in securing a licence agreement with a prospective operator in the UAE. This is
the first example of QuikTrak utilising the Intellectual Property ownership of
its system and is intended to act as a blueprint for all future licensing deals
in Europe, the FSU and the Middle East.  These are the three primary geographic
areas within which the Board is currently exploring opportunities and where they
have broad commercial experience.  Licensing deals will provide a revenue stream
through consultancy fees for preliminary investigations, technical planning,
acquisition of base-stations and software, as well as through monthly
technology, licence and technical support fees per base-station deployed.


                                    - ends -




For further information:

Guido van Alphen/Annie Richards                 Ana Ribeiro/Justine Howarth
QuikTrak Networks plc                           Parkgreen Communications
[phone]                                [phone]



For further information regarding QuikTrak Telecommunications (UK) Ltd:

Simon Thomas/Trevor Binyon                      Roland Cramp
Tenon Recovery                                  Edward Symmons & Partners
Sherlock House                                  2 Southwark Street
73 Baker Street                                 London Bridge
London W1U 6RD                                  London SE1 1RQ

Tel: [phone]                           Tel: [phone]
Fax: [phone]                           Fax: [phone]








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

MSCBLGDIDGDGGSS