Issue of Equity

Gresham Computing PLC
13 January 2003


For immediate release                                            13 January 2003


                              Gresham Computing plc
                          ('Gresham' or 'the Company')


The Company announces that following the exercise of SAYE options, 2,917 new
ordinary shares of 5p each have been issued today, taking the total number of
outstanding ordinary shares of 5p each to 46,993,857.


The new ordinary shares will rank pari passu in all respects with the existing
issued shares.   Application has been made to the UK Listing Authority to admit
the new ordinary shares.  Trading in the new shares is expected to commence on
16 January 2003.


                                     -ends-

For further information please contact:


Gresham Computing plc                                               01489 555500

Dean Osman, Finance Director                           www.gresham-computing.com


Weber Shandwick Square Mile                                        020 7067 0700

Christian Taylor-Wilkinson



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