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Thursday 08 November, 2001


Stmnt re Capital Reduction

8 November 2001

                                                               8 November 2001

                          Court approval of capital reduction

J2C plc ('the Company') announces that, following shareholder approval at an

EGM on 15 October 2001, Court approval for the capital reduction was granted

on 7 November 2001.

The capital reduction will become effective on the date on which the order of

the Court is registered by the Registrar of Companies, which will also be the

record date for entitlement to participate in the return of capital. This is

expected to take place on or before 14 November 2001. It is anticipated that

posting of cheques and crediting of CREST accounts in respect of sums due as a

result of the capital reduction will be effected within seven days thereafter.

The Company has applied today for its shares to cease being traded on AIM and

it is expected that trading will cease on 21 November 2001. Following the

payment under the capital reduction, it will be proposed to shareholders that

the Company be placed in liquidation.

Accordingly, the Company announces the resignation, with effect from 7

November 2001, of Karl Watkin, Chief Executive and Luke Johnson and Alan 
Donnelly, both non-executive directors. The continuing directors are Sir Michael
Bett and Alan Davidson.

                                    - Ends -


J2C plc

Alan Davidson                  0191 226 3506

Brunswick Group Ltd

Gavin Partington               020 7404 5959

Corinne Daniels                020 7404 5959


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