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Microcap Equities (MEQ)

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Thursday 27 May, 2004

Microcap Equities

Further re Offer for EP

Microcap Equities Plc
27 May 2004

                                                                     27 May 2004

                       Microcap Equities Plc ('Microcap')

                             Rule 2.10 Announcement

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers,
the Company announces that it has in issue 30,649,727 ordinary shares of
1p each.

The International Securities Identification Number for these shares is
GB0032851270.

Enquiries

Microcap Equities plc
Nicolas Greenstone                                            Tel: 020 7723 8833

John East & Partners Limited
David Worlidge/Simon Clements                                 Tel: 020 7628 2200



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