Issue of Shares

Canisp PLC
29 July 2005


                           Canisp plc (the 'Company')

                                Issue of Shares


The Company announces that on 28 July 2005 it issued 28,410 new Ordinary Shares
to each of Mike Hirschfield and John Maundrell, executive Directors of the
Company, pursuant to their revised remuneration arrangements which were
announced on 18 May 2005. Under these arrangements they agreed to a reduced
salary to be satisfied by the issue to them on a quarterly basis of a number of
shares calculated by reference to the average closing bid price over the
preceding five dealing days.

Application has been made for these 56,820 new Ordinary Shares to be admitted to
trading on AIM, with admission expected to take place on 3 August 2005.


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