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Future Integrated (FUR)

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Monday 26 March, 2001

Future Integrated


Future Integrated Telephony PLC
26 March 2001

                       Future Integrated Telephony Plc

                         ('Future' or 'the Company')

             Acquisition of two subsidiaries of Plc

The Company is pleased to announce that it has acquired two subsidiaries of Plc which comprise the trade, debtors and certain liabilities of
that company ('Synergie'), for a total consideration of £819,000, satisfied by
the issue of 2.6 million shares in the Company. The value of the net assets
acquired is £244,000. Application will be made for the 2,600,000 shares to be
admitted to trading on AIM and dealings are expected to commence on 30 March
2001. Plc is an Internet and telephony service provider, founded in
August 1999 and floated on Ofex in March 2000. Plc has given
certain warranties and indemnities relating to the net assets acquired by the
Company. It has also entered into an agreement not to dispose of any shares in
FIT for a period of 1 year from the date of the agreement, save that it is
able to sell a limited number of shares to satisfy certain of the liabilities
of the company not subject to this transaction and any taxation arising from
this transaction. Plc has also agreed not to dispose of any
shares for a further period of one year without consulting FIT in order to
maintain an orderly market.

The range of products and services acquired are as follows:-

  * Telecommunications Services

        Synergie provides telecommunications services on a switchless resale
        basis. It also provides a mobile phone service via an existing
        relationship with Future Mobile and acts as an Internet Service
        Provider. Synergie has developed its own integrated services billing

  * Internet Services

        Synergie designs and host's customers web sites and applications on
        its own infrastructure. It has developed its own drag and drop web
        site development application for customers as well as the award
        winning COWS e-commerce software. Synergie bundles its access, hosting
        and e-commerce applications as the 'E-business Solution' range.

The Combined Business

 a. Internet

    Both FIT and Synergie's Internet offerings have been developed for the SME
    market place but from different strategies; FIT has developed its strategy
    from a portal point of view and Synergie from a telecoms Internet package.
    Combining the best of product offerings, will give a range of products
    that can address a far wider market than either Company could on its own.

 b. Telecom Services

        The Company now has the benefit of a contract with the Federation of
        Small Businesses (FSB), for an initial period of 3 years, extendable
        to 6 years. Under this contract FIT will provide the services
        supporting FSB Telecom, the recently launched service being offered to
        FSB members. The FSB has approximately 155,000 member organisations,
        providing a range of services to its members supported by a sales
        force of 120. The new FSB Telecom service became operational in
        November 2000 and already 12,000 line connections have been made, a
        run rate of 3,000 connections per month is planned.

Clearly the products and services of the two companies are complementary. This
will lead to operational synergies and to an enhancement of the Groups product

FIT offers converging voice, data and computing technologies. The key is to
provide total seamless solutions for customers, encompassing fixed wireless
and Internet services to meet the customers defined need. It is intended to
add value by increasing the revenue per customer by cross selling the
Company's services and products, to all customers taking advantage of the
increasing base.

FIT offers a flexible and high quality integrated telecommunications service,
the Company is well placed to exploit the opportunities that the converging
world of communication offers.

Gary Nield, managing director of Plc along with other members of
the Synergie will be assisting with the sales and marketing of FIT's extended
product portfolio.

Peter Howell-Davies Chairman commented:

'The combination of Synergie and FIT is a good strategic fit, enabling us to
provide our customers with an extended product portfolio, while continuing to
offer good value.'

                                                               26th March 2001

Future Integrated Telephony Plc                   Tel: 02476 658000

Peter Howell-Davies, Chairman

College Hill                                      Tel: 020 7457 2020

James Henderson

Chelsea Allen


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