Issue of Equity

Gresham Computing PLC
06 November 2003


For immediate release

                              Gresham Computing plc

                          ('Gresham' or 'the Company')

The Company announces that following the exercise of SAYE options, 434,493 new
ordinary shares of 5p each have been issued today, taking the total number of
outstanding ordinary shares of 5p each to 49,104,755.

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 12
November 2003.

The above new shares issued, include 30,157 new ordinary shares issued to Mr S W
Purchase following his exercise, today, of Save as You Earn options at a price
of 23 pence per share. As a result Mr Purchase now holds a beneficial interest
of 4,284,591 ordinary shares in the Company representing 8.73% of the
outstanding share capital.

                                     -ends-

For further information please contact:

Gresham Computing plc                 01489 555500
Dean Osman, Finance Director

Weber Shandwick Square Mile           020 7067 0745
Christian Taylor-Wilkinson




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