Convertible Loan Notes

RNS Number:2172P
Vantis PLC
01 September 2003


For Immediate Release                                           1 September 2003

                                   Vantis plc

                          ("Vantis" or the "Company")


               Conversion of Unsecured Convertible Loan Notes


Vantis announces that #400,000 in Unsecured Convertible Loan Notes is today
being converted into 375,586 Ordinary Shares of 10p each in the Company.


On 1 August 2002, Vantis announced the acquisition of The Custom House (Duty
Recovery and Advisory Services) Ltd for a maximum consideration of #2,334,000.
Part of this consideration was the issue of #400,000 in the form of Unsecured
Convertible Loan Notes which may be converted into Ordinary Shares of 10p each
in the Company after 12 months at the prevailing mid price, or redeemed in
certain circumstances by the Company in cash. The conversion of the Unsecured
Convertible Loan Notes into Ordinary shares is at 106.5p, the prevailing mid
price over the last three trading days.


Application is being made for the new shares in Vantis to be admitted to trading
on AIM. Admission is expected to occur on 4 September 2003.



For further information, please contact:


Paul Jackson, Chief Executive
Paul Ashton, Managing Director
Vantis plc                                                     020 7417 0417

Russell Cook/Richard Kauffer
Charles Stanley                                                020 7739 8200


Richard Darby/Suzanne Brocks
Buchanan Communications                                        020 7466 5000




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