Issue of Equity

Gresham Computing PLC
07 May 2004


For immediate release                                                7 May 2004

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

The Company announces that following the exercise of share options, 75,000 new
ordinary shares of 5p each were issued on 7 May 2004, taking the total number of
outstanding ordinary shares of 5p each to 49,402,367.

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
May 2004.

                                     -ends-


For further information please contact:

Gresham Computing plc                                             01489 555 500
Chris Errington, Finance Director

Weber Shandwick Square Mile                                       020 7067 0700
Christian Taylor-Wilkinson



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