Issue of Equity

First Derivatives PLC
20 October 2003

                             First Derivatives plc

                              Admission of shares

Options to subscribe for 11,667 new ordinary shares of 0.5p each in First
Derivatives plc were exercised on 6th October 2003 at an exercise price of 40p
per share.

An application for the 11,667 ordinary shares to be admitted to trading on the
Alternative Investment Market has been made to the London Stock Exchange.
Dealings in these shares are expected to commence on 21 October 2003.

The shares will rank pari passu in all respects with the existing shares in
issue.

20 October 2003


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