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Monday 04 June, 2001


Update Announcement

4 June 2001

                       J2C plc ('J2C' or the 'Company')

                             UPDATE ANNOUNCEMENT

On 1 February 2001, J2C announced that it had resolved to seek a major
transaction for the Group with the intention of making the best use of the
Company's significant cash assets.

On 9 February 2001, it was announced that the board of J2C had agreed that, in
response to approaches from shareholders, if a major transaction were not
concluded in the next few months, the Board would be prepared to consider
implementing a capital reduction scheme. Subject to shareholder and Court
approval, this would result in a distribution of all or part of the Company's
surplus cash assets to shareholders.

The Company today announces that the previously announced strategy remains
unchanged and that discussions are ongoing with regard to a possible major

The board hopes to be able to make a further announcement in due course.


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