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Veos PLC (VEO)


Friday 08 March, 2002

Veos PLC

Additional Listing

Veos PLC
8 March 2002

                       Veos plc ('Veos' or the 'Company')

                             Placing of New Shares

The Board announced on 11 December 2001 that it had taken steps to reduce
overheads and the Company's current cost base and that discussions were
progressing with potential investors. On 2 January 2002, it was further
announced that a placing of 519,894 new ordinary shares had raised £52,000 (net
of expenses).

The Board today announces that it has completed a further placing for cash ('the
Placing') of 507,000 new ordinary shares of 10p each in the Company. The placing
price was 10p per new ordinary share to raise approximately £47,000 (net of
expenses), which will be used to provide short term working capital for the
Company. Application has been made for the new ordinary shares to be admitted to
trading on the Alternative Investment Market of the London Stock Exchange and
dealings are expected to commence on 14 March 2002. The shares will rank pari
passu with existing ordinary shares of the Company.

Negotiations are currently advancing with two existing shareholders to make
further investments in the Company. Following today's placing, the Company has
approximately £240,000 of cash. Running costs have been reduced to around
£90,000 per month.

Paul Lever, the Chairman of Veos, said:

'The new funds secured since the year end have been small, but are vital to keep
the business moving forward while negotiations for larger sums are concluded. We
hope to be able to report to shareholders on the status of these negotiations

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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