Re: Agreement

Auxinet PLC
27 May 2003

       DataCash and Venda offer end-to-end outsourced eCommerce service.

London: Tuesday 26th May 2003: DataCash, the payment processing subsidiary of
Auxinet Plc, the AIM listed payment solutions provider and Venda, the eCommerce
solutions provider have today agreed to jointly provide end-to-end eCommerce
services to customers in the UK.

DataCash is the UK market leader in the supply of outsourced credit card and
direct debit payment processing solutions and currently processes over 2.3m
transactions per month with a value of over £190m.

Venda's solutions combine a broad variety of software tools that allow companies
to manage their customer relationships and online content effectively. Provided
as a fully managed service, everything is handled for them including site
design, implementation, service equipment, hosting, bandwidth and transaction
activity. Venda was developed on the technology assets acquired from the
liquidation of Boo.com, the high profile internet fashion retailer.

'Venda and DataCash complement each other perfectly as best of breed in their
respective field of expertise', says Gavin Breeze, Director of DataCash, 'The
combined services relieve merchants of the need to incur the significant capital
and P&L costs associated with delivering online services'

'DataCash's high quality and broad range of capabilities in the increasingly
complex payment and fraud management services market is a huge benefit to
Venda's customers. By partnering with them, we are able to offer our customers
enhanced payment options for their remote channels to market' commented Dan
Wagner, CEO of Venda.

Venda's customers include many high street retailers and blue chip international
manufacturers including Xerox, the BBC, Focus Wickes Group, Ted Baker and many
others who will progressively migrate to the DataCash payments processing
system.

DataCash are an expert supplier for payment processing solutions; the benefit to
Venda and its clients is that DataCash is focused solely on payments, keeping up
to date with the continually evolving bank and card scheme mandated changes.
The last year alone has seen the roll-out of AVS/CV2, accreditation for Chip &
Pin, and the implementation of the 3D secure protocol covering 'Verified by
Visa' and MasterCard's 'SecureCode'. All represent major changes to anyone
taking payment by card. By outsourcing the increasingly complex card payment
processing to DataCash, Venda can concentrate on extending its own strong value
proposition to merchants.

Note to Editors

About DataCash

DataCash is the only listed payment solution provider in Europe with a market
cap of £16m. DataCash processes over 2m transactions a month for its clients
with a value of over £190m per month.

DataCash provides outsourced solutions for the authorisation, settlement and
fraud management of credit and debit cards as well as direct debits, direct
credits and cheques. All transactions are accessible to merchants through a
real-time MIS Reporting Suite.

DataCash's fraud management solutions support industry initiatives such as AVS/
CV2 and 3-D Secure's Verified by Visa and MasterCard SecureCode as well as
traditional rules-based fraud screening.

DataCash's solutions are suitable for merchants selling through any channel
including the Web, Interactive TV, Kiosk, Call Centre, Interactive Voice
Response ('IVR') or even traditional High Street point of sales channels.

About Venda Limited

Venda Limited was launched in October 2001 as the UK's most ambitious eCommerce
company. It was founded by Dan Wagner, a leading technology entrepreneur, and
James Cronin, original architect of the highly-publicised Boo.com ecommerce
platform. Venda provides manufacturers, wholesalers and retailers with simple,
scalable and secure B2B or B2C capabilities at an affordable price. Venda's
solutions combine a broad variety of software tools that allow companies to
manage their customer relationships and online content effectively. Provided as
a fully managed service, there are no upfront costs - customers simply pay a
moderate monthly fee for the service and everything is handled for them
including site design, implementation, service equipment, hosting, bandwidth and
transaction activity. The Company's strategic and channel partners include BT,
Intel and Microsoft.

For further press information, please contact:

Gavin Breeze, DataCash          [e-mail]                07770 752 563

Dan Wagner, Venda               [e-mail]               020 7070 7330


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