Mutual Cooperation Agreement

Trakm8 Holdings PLC
23 May 2006


Embargoed until 7am                                                 23 May 2006


                               TRAKM8 HOLDINGS PLC
                           ("Trakm8" or "the Group")

                          Mutual Cooperation Agreement

Trakm8 Holdings Plc (Trakm8), the AIM listed designer and developer of licensed
GPRS based hardware and software for the vehicle placement and security market,
and Punch International NV (Punch), the diversified technology group listed on
the Euronext exchange and headquartered in Belgium, are pleased to announce a
mutual cooperation agreement.

Punch owns a number of subsidiaries that operate under the name Punch Telematix,
manufacturing and selling software, firmware, hardware and complete telematics
systems to equipment manufacturers and end customers throughout Europe.

The objective of the agreement will be to seek competitive advantages within the
telematics markets in the UK, US, South Africa and Europe. The Boards of Trakm8
and Punch expect to develop combined sales and marketing drive as well as
initiatives to share technology and knowledge.

Important synergies that exist between the two companies will be cultivated by
the pooling of resources. Key areas of cooperation include:

  * Marketing of the products of both companies within the respective
    territories
  * Development of a new STREAM software interface to accommodate the
    hardware of both parties
  * Joint R&D initiatives to identify and eliminate redundant or duplicate
    technologies and functionality
  * Joint ownership of any new IPR (intellectual property rights) as a
    result of these R&D activities
  * Combined purchasing power to achieve manufacturing cost savings
  * Support and resources from either party during a major new contract bid
    situation

This agreement improves the competitive positioning of both companies and opens
the door to future collaboration in developing new products and services for as
yet untapped markets. Both companies view this agreement as a first step towards
this goal.

Cary Knapton, CEO of Trakm8, commented, "This is an important step in the
development of Trakm8 and one which we hope will see us become one of the
leading telematics companies in the world. The combined know-how, product
portfolios and territorial reach means we will be able to compete in areas we
were unable to, prior to the agreement.

"We believe Punch will bring important synergies to Trakm8 and look forward to a
successful working relationship with them."

Luc Lammens, CEO of Punch Telematix, stated, "This agreement not only expands 
the geographical coverage of our commercial activities but also increases the 
scale, and therefore the efficiency of, our joint R&D efforts. It will 
strengthen our position as one of the European market leaders and creates 
significant opportunities for future growth."

Wim Deblauwe, CFO of Punch, concluded, "We are pleased to join forces with
Trakm8. This agreement is another milestone in the global roll out of our
telematics cluster and one which is equally beneficial to both parties
involved."


                                     -ends-


For further information please contact:

Trakm8 Holdings plc                                         [phone]
Cary Knapton, Chief Executive Officer
Tim Couling, Finance Director

Punch International
Wim Deblauwe, Chief Financial Officer                        [phone]

Tavistock Communications                                    [phone]
Christian Taylor-Wilkinson


About Trakm8
Trakm8 is a leading technology provider to the vehicle tracking and security
market, based in Dorset in Southern England. The Company provides its hardware
and software worldwide through distributors that allows vehicles and drivers to
be monitored, to allow companies to manage deliveries and services, or track
stolen vehicles down to 5 metres. For further information please go to:
www.trakm8.com

About Punch International
Punch is a knowledge and technology provider 'par excellence', empowering all
the companies within its group to create new technology that is marketable and
profitable. Punch will apply all its knowledge and experience, and use its
financial assets to help leverage potentially successful technology towards a
higher level of maturity. Punch strives to meet its customers' quality, costs,
delivery and service demands with total solutions and empowers its clients to
reach and surpass their goals and to establish a sustainable competitive
advantage within their markets and gain market share. This approach enables
Punch to continuously increase added value for its stakeholders: partners,
shareholders, clients, suppliers, and society.

Punch is listed on Euronext Brussels and is part of the NextPrime index.

All press releases and other information are available online at
www.punchinternational.com and www.euronext.com.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
           ZKNZKGVZM