Annual Report of Accounts

Panther Securities PLC
28 June 2000

The Annual Report and Accounts of the Company for the year ended 31st
December, 1999 and a circular relating to the proposed acquisition of shares
held by Mr Malcolm Bloch were posted to shareholders and warrantholders
earlier today.

The above documents included notices of an Annual General Meeting and an
Extraordinary General Meeting to be held on the 21st July, 2000.