Further re GNI contract

Mondas PLC
19 May 2003


                     Mondas PLC ('Mondas' or 'the Company')

                            Contract Implementation

   GNI goes live with Radica CAPS, Corporate Actions software from Mondas PLC


GNI Limited, now part of the Man Group plc, has confirmed, following extensive
initial testing, that it has gone live with Mondas' Radica CAPS. Mondas has
provided GNI with a comprehensive STP corporate actions ('CA') processing
solution including data scrubbing and exception management for their CA and
Taxation Departments.


This endorses Mondas' position as a market leader in this area and adds an
important institutional client to its growing list of live sites in this new
area for automation. This builds on other recent Mondas news, including the
signing of significant new orders over recent months.


Tim Simon, Chairman of Mondas PLC confirmed 'The successful implementation of
the GNI project is an important milestone for Mondas because it is the first
delivery of the new version 3.0 of Radica CAPS. This new version offers
comprehensive benefits to the wider Institutional market and now, running live,
extends our credibility as an experienced CA vendor.'


Christina MacKinnon, Operations Director at GNI Ltd commented: 'The task of
managing corporate actions in the previously manual environment was enormous
and, by its very nature, carried inherent risk'. 'The Radica CAPS system now
automates the process from data cleansing through to outcome production and
system updates. The Mondas team have managed this project extremely
professionally and proved its ability to deliver a quality, functionally rich CA
solution.'


Mondas PLC was established in 1991 by Tim Simon, previously the founder of
another securities and banking software organisation, which he developed into
one of the UK's top ten software houses. Mondas floated on AIM in 1996 and
currently has offices in the City of London and Rickmansworth.


For further information, please contact:

Sally Johnson                          Sue Stride/Gerard Blay

Mondas PLC                             Charlwood House PR

Tel: [phone]                     Tel: [phone] 8660 3152






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