Issue of Equity

ADVFN PLC
20 May 2003


Embargoed until 9:00am Tuesday 20th May 2003



ADVFN PLC

20th May 2003

ADVFN PLC ('ADVFN' or the 'Company')

Placing of New Ordinary Shares


ADVFN announces that it has conditionally placed a total of 50,000,000 new
ordinary shares of 1p each ('New Ordinary Shares') at 1.2 pence per share to
raise £600,000 before expenses for the Company.  The Placing is conditional on
admission of the New Ordinary Shares to trading on AIM ('Admission'). Admission
and dealings are expected to commence on 23rd May 2003.

SG Asset Management have conditionally subscribed for 25,000,000 of these
shares, giving them a percentage holding in the Company of 6.16%.  The net
proceeds of the Placing will be used to accelerate ADVFN's expansion, to
increase its promotion and bring forward more new products. ADVFN has broadened
its offering and is enjoying strong growth.

Clem Chambers CEO said 'The strong progress we have recently enjoyed has
encouraged us to take advantage of demand in the market for our stock. This
advance coupled with the positive reaction received for our latest product, the
Quantigma iQuant in the US, make us optimistic about our prospects going
forwards.'


For more details please contact:

Clement Chambers         CEO Advfn Plc            020 707 0948

[e-mail]


Francesca de Franco      PR Advfn Plc             020 707 0932

[e-mail]





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