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Vebnet (Hldgs) PLC (VBT)

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Friday 10 September, 2004

Vebnet (Hldgs) PLC

Grant of Share Options

Vebnet Holdings PLC
10 September 2004


                           VEBNET (HOLDINGS) LIMITED

                             Grant of share options
                                        
Vebnet, the Edinburgh-based, AIM-traded provider of technology for employee
benefit solutions, announces that options were granted yesterday over a total of
245,829 Ordinary Shares of £1 each in the Company.

Options over a total of 225,829 Ordinary Shares were granted under Vebnet's EMI
scheme, of which options over 29,600 Ordinary Shares were granted to Dr G J
O'Neill (Chief Executive Officer) and options over 39,700 Ordinary Shares were
granted to Mr S D Thurlow (Chief Financial Officer). All qualifying employees of
the Group were invited to participate in the option grant. Pursuant to the rules
of the scheme, the exercise price of the options, which is 125p per Ordinary
Share, is calculated by prior agreement with the Inland Revenue. The options are
exercisable over a three year period in three equal amounts commencing 9
September 2005.

Unapproved options over 20,000 Ordinary Shares were granted to D&L Scott, a
partnership in which Vebnet's Chairman, Mr D Scott, has a material interest. The
exercise price of the options is also 125p per Ordinary Share and the options
are exercisable over a three year period in three equal amounts commencing 9
September 2005.

The interests of Mr D Scott, Dr G J O'Neill and Mr S D Thurlow in the Ordinary
Share capital of the Company following the grant of these options (which are the
only options the Company has in existence) are now as follows:

    Name               Holding of         Percentage of           Holding of
                  Ordinary Shares        Ordinary Share         options over
                                                capital      Ordinary Shares

Mr D Scott                 86,668                   1.0               20,000
Dr G J O'Neill          1,061,634                  12.6               92,600
Mr S D Thurlow            258,079                   3.1               89,200

Enquiries:

Vebnet (Holdings) plc                                          0131-270 5500
Gerry O'Neill (Chief Executive Officer)
Stephen Thurlow (Chief Financial Officer)

Seymour Pierce Limited
Jonathan Wright                                                020-7107 8000

Bankside Consultants Limited
Charles Ponsonby                                               0207-444 4166




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