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Veos PLC (VEO)


Friday 28 June, 2002

Veos PLC

Developments since suspension

Veos PLC
28 June 2002

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

                Developments since Suspension of Trading on AIM

                        Resignation of Nominated Adviser

The Company has today announced the following developments since the suspension
of trading in the Company's shares on the Alternative Investment Market of the
London Stock Exchange, which was announced on 31 May 2002:

1) The Company's annual report for the year ended 31 December 2001 will not be
sent to shareholders by the 30 June deadline required under the AIM rules. The
Company is in discussions with a third party regarding a possible acquisition of
the latter by Veos, which would be regarded as a reverse take-over and would
require shareholder approval. These discussions are at an early stage, but they
do create uncertainty regarding the appropriate basis for the preparation of the
accounts. The signing of accounts will therefore be delayed until this
uncertainty can be resolved. No further details are available at this time, but
full disclosure will be made as soon as possible.

2) The Company received the resignation of three non-executive directors
yesterday. Jan Hall and Philip Sellwood have resigned due to the weight of their
other commitments and Robert Fisher due to ill health. In addition, Peggy
Czyzak-Dannenbaum, Chief Executive Officer, has tendered her resignation with
effect on 31 July 2002 to pursue other interests and Robert Wilkinson, Finance
Director, resigns on the same date to take up another senior position.

The current Board will complete an orderly handover to a new Board by the end of
July 2002. The composition of the new Board will be announced shortly.

3) Williams de Broe, the Company's nominated adviser, has notified the Company
of its resignation as nominated adviser which will become effective on 31 July

4) The Company has available cash of £60,000 and monthly cash expenditure of
some £5,000. Since the announcement of the suspension of trading, the Board not
been able to date to secure additional equity funding.


Enquiries, please contact:

Paul Lever                  Chairman, Veos plc          020 7960 6066

Peggy Czyzak-Dannenbaum     CEO, Veos plc               020 7960 6066

Paul Lewakowski             President, Veos Inc.        001 847 735 0003

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

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