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Future Integrated (FUR)

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Monday 29 October, 2001

Future Integrated

Disposal Completion

Future Integrated Telephony PLC
29 October 2001


FUTURE INTEGRATED TELEPHONY PLC ('FUTURE' OR ' THE COMPANY')


Completion of Part Disposal and Board Change


The Company announced on 8 October 2001 that it had reached agreement, subject
to contract, to sell certain of the Company's operations to Eurotel Systems
Limited ('Eurotel').


Future had agreed to sell the assets, maintenance, Least Cost Routing ('LCR')
and Mobile Airtime contracts relating to the Company's PABX customer base, to
Eurotel, for a cash consideration of £850,000, conditional upon certain
performance criteria being met.


The Company now announces that this sale has now been completed, save for the
consideration is now £800,000. The net book value of the fixed assets sold to
Eurotel amount to approximately £47,500. The stocks and work in progress
transferred have been valued at £204,000. The Company has warranted that the
maintenance income relating to the contracts transferred for the twelve months
prior to completion was £500,000 and the LCR revenue, per business day, for
September 2001, was £5,500. Under the agreement Eurotel will collect the
outstanding debtors relating to this business on behalf of Future, amounting
to approximately £390,000.


The above transaction is an integral part of the negotiations and structure
for the proposed acquisition of Eurotel and for this reason the trading in the
Company's shares will remain suspended pending announcement of further
progress.


The Company further announces that as a result of this transaction, the Board
considers that it no longer requires three non executive directors and Mr Ted
Stocker OBE has agreed to step down with immediate effect.


END


                                      

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