Disposal

Auxinet PLC
23 July 2001


auxinet plc

auxinet plc announces that it has withdrawn from its recruitment activities
with effect from 3 August 2001, subject to completion. The employees of the
Corporate Executive Search business are transferring to Renoir Partners, who
are paying Auxinet a nominal sum for certain items of goodwill, existing
employment and certain other contracts, the contacts database and the trading
names of CorpExec and Corporate Executive Search.

As previously reported, the recruitment activities have produced disappointing
trading so far this year, and there are little signs of any recovery. The
Board of auxinet, who have been attempting to dispose of this activity for
some time, concluded that the investment of management time and capital
required to support this business could not be justified.

auxinet are now able to concentrate fully all its resources on the development
of its rapidly growing payments businesses, DataCash and Platima, and, as
reported after the recent placing, is confident that the payment business will
provide a rapidly growing, cash generative, profitable business as we move
forward.

Enquiries:

John Coyle, Clerkenwell Communications Tel: [phone]