Notice of EGM, etc

Billam PLC
17 May 2000

                                  BILLAM PLC
                       (in administrative receivership)
                                       
               INTENTION TO BECOME AN INVESTMENT HOLDING COMPANY


The  Board, having previously announced a plan to recapitalise the Company has
despatched  notices  of  a Creditors Voluntary Arrangement  and  Extraordinary
General  Meeting ('EGM') to creditors and shareholders.  The meetings will  be
held at the offices of its nominated adviser, Peel Hunt plc of 62 Threadneedle
Street, London EC2R 8HP at 10.00 am on Tuesday 30 May 2000.

At  the EGM, a number of resolutions will be proposed including a proposal for
the  company to become an investment company.  It is intended that Billam plc,
will  invest in companies that offer innovative solutions and exploit products
and   services  utilising  digital  technology.    Billam  may   either   take
controlling  stakes or minority interests in its investee companies  and  will
seek an exit from its investments either through flotation or sale.

Resolutions  will also be proposed at the EGM to appoint Angus George  Patrick
Forrest  and  Juliet  Anne Hoskins as new directors, and to  recapitalise  the
company through the issue of new shares to raise up to £1 million.   Following
the EGM, it is anticipated that the current directors of Billam will resign.

Assuming  all resolutions are passed and the placing of new shares  up  to  £1
million  is completed, the directors will request that the suspension  of  the
Company's shares be lifted and for trading to resume.