Issue of Equity

Gresham Computing PLC
06 January 2004


For immediate release                                           6 January 2004


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

The Company announces that following the exercise of an SAYE option, 12,130 new
ordinary shares of 5p each were issued on 5 January 2004, taking the total
number of outstanding ordinary shares of 5p each to 49,297,210.

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 9
January 2004.

                                     -ends-

For further information please contact:

Gresham Computing plc                                           01489 555 500
Dean Osman, Finance Director

Weber Shandwick Square Mile                                     020 7067 0745
Christian Taylor-Wilkinson




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