Issue of Equity

Gresham Computing PLC
17 March 2004

For immediate release                                            17 March 2004

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

The Company announces that following the exercise of SAYE options by Mr A J S
Walton-Green at a price of 23 pence per share, 30,157 new ordinary shares of 5p
each have been issued today. As a result Mr Walton-Green has increased his
beneficial interest to 493,147 ordinary shares in the Company, representing 1%
of the outstanding share capital. Following the issue, the total number of
outstanding ordinary shares of the Company has increased to 49,327,367 ordinary
shares of 5p each.

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 and admission to the market is expected on 23 March
2004.


                                     -ends-

For further information please contact:

Gresham Computing plc                                            01489 555 500
Dean Osman, Finance Director

Weber Shandwick Square Mile                                      020 7067 0700
Christian Taylor-Wilkinson




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