Convertible Shares Cancelled

Capitaltech PLC
1 June 2001

CapitalTech plc ('the Company')



As provided for in the Company's circular to shareholders dated 2nd May 2000,
on 31st May 2001, the Company's Directors and Auditors have confirmed that
there has been no net increase in value of the relevant investments between
the relevant dates, and accordingly on 1st June 2001 the Company's 3,255,141
Convertible Shares of 20p each will automatically sub-divide into 32,551,410
Convertible Shares of 2p each which then automatically convert into 32,551,410
Deferred Shares of 2p each which will be redeemed by the Company and cancelled
on the same date at an aggregate consideration of 1p.  Following this process
today there will be no Convertible Shares of any denomination in issue.  All
increase in value of the relevant investments following this date will accrue
to all shareholders.



The Company's Convertible Shares of 20p each nominal value were distributed by
way of a bonus issue to Ordinary Shareholders on the register as at 31st May
2000, and were intended to retain for those shareholders all increase in value
of then existing high tech investments between 2nd February 2000 (or, if
acquired later but before 31st May 2000, the date of acquisition) and 31st May
2001 (the Conversion Date).



The Company announced on 12th February 2001 that 'as could be expected in the
light of the intervening business and market conditions for young high tech
companies, the directors do not now consider that there is a realistic
prospect of any material net increase in value of such investments by the
Conversion Date, and it is likely that the Convertible Shares may have
immaterial value on which conversion will be based on that date'.



1 June 2001



END