Business Update

For Immediate Release 15th March 2005

  Timestrip plcsupplies smart label technology to Ocado - a UK leading online  
                                    grocer                                     

Timestrip plc, which markets an inexpensive and versatile label technology for
accurately measuring lapsed time, is pleased to announce further progress in
its strategy of marketing its technology to a mass market consumer customer
base.  The Group has entered into a supply agreement with Ocado, one of the
UK's leading online grocers, to sell Timestrip® retail packs among its range of
grocery and household products currently available to a third of UK
households. 

The retail pack, available in April, will comprise of 25 disposable,
self-adhesive timestrip® smart-labels measuring time of up to 14 days in the
fridge and will allow consumers to monitor how long refrigerated produce has
been open by simply activating the timestrip® and attaching it to food stuffs.
This product has been approved and certified by the Good Housekeeping Institute
and will retail at £1.99. 

Reuben Isbitsky, joint CEO and Founding Director of Timestrip plc commented:

'We are very excited that our retail product has been selected by Ocado, which
has a proven track record of providing high quality goods and unrivalled
customer service.  We believe that this online retail agreement, which Ocado is
marketing to key customers nationwide via the distribution of sample timestrip®
packs, will showcase the strength of both our technology and product offering,
which has significant mass market applications and will drive its growth as a
household recognised brand.' 

For further information:

Paul Freedman\Reuben Isbitsky Joint CEOs, Timestrip plc 01462 440700

Shane Dolan, Biddicks 0207 448 1000