Holding(s) in Company

Gresham Computing PLC
26 September 2007



TR-1:               Notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing            GRESHAM COMPUTING PLC
shares to which voting rights are attached:

2. Reason for the notification     (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights                                                       X

An acquisition or disposal of financial instruments which may result in the acquisition of
shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification            Herald Investment Management Limited
obligation:

4. Full name of shareholder(s) (if different from 3.):                Bank of New York (OCS) Nominees Ltd
                                                                 on behalf of Herald Investment Trust Plc

5. Date of the transaction (and date on which the threshold is   Placing effective 27 September 2007
crossed or reached if different):

6. Date on which issuer notified:                                         26 September 2007

7. Threshold(s) that is/are crossed or reached:                                      5%

8. Notified details:


A: Voting rights attached to shares

Class/type of     Situation previous to   Resulting situation after the triggering transaction
shares            the Triggering
                  transaction
 if possible      Number of   Number of   Number of     Number of voting rights   % of voting rights
using the ISIN    Shares      Voting      shares
CODE                          Rights                    Direct       Indirect     Direct       Indirect


GB0008808825      1,895,000   1,895,000   2,804,100                  2,804,100                 5.31%
                                          (5.31%)


B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial    Expiration date Exercise/ Conversion      Number of voting rights    % of voting
instrument                           Period/ Date              that may be acquired if    rights
                                                               the instrument is
                                                               exercised/ converted.
        None                                                                              Nil




Total (A+B)


Number of voting rights                            % of voting rights


2,804,100                                          5.31%


9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively
held, if applicable:

Herald Investment Management Limited, a discretionary investment manager, is the parent undertaking of an investment
management business.

Shareholder: Herald Investment Trust (in the              2,804,100             5.31%
name of Bank of New York (OCS Nominees Limited)

Total for Funds under the management of Herald            2,804,100             5.31%
Investment Management Limited



Proxy Voting:

10. Name of the proxy holder:                                           N/A
11. Number of voting rights proxy holder will cease to hold:            N/A
12. Date on which proxy holder will cease to hold voting rights:        N/A


13. Additional information:
14. Contact name:                            CHRIS ERRINGTON, COMPANY SECRETARY

15. Contact telephone number:                01489 555500


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