Issue of Equity

First Derivatives PLC
22 December 2003

                             First Derivatives plc

                              Admission of shares

Options to subscribe for 10,000 new ordinary shares of 0.5p each in First
Derivatives plc were exercised on 18th December 2003 at an exercise price of
26.5p per share.

An application for the 10,000 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 29 December 2003.

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

22 December 2003


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