Change of Adviser

Toad PLC 18 December 2002 TOAD PLC Appointment of Broker The Board of Toad plc is pleased to announce the appointment of Seymour Pierce Limited as the Company's broker with immediate effect. For further information please contact: Peter Ward Executive Chairman Tel: 020 8710 4000 Wilson Jennings Finance Director Tel: 020 8710 4000 This information is provided by RNS The company news service from the London Stock Exchange

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