First Day of Dealing on AIM

Adamind Ltd
21 February 2005


21 February 2004


                                  Adamind Ltd.

                            FIRST DAY OF DEALINGS ON
                       THE ALTERNATIVE INVESTMENT MARKET

The Board of Adamind Ltd. ("Adamind" or "the Company"), a software provider for
the media adaptation market, announces that the Company's shares have today been
admitted to trading on the Alternative Investment Market of the London Stock
Exchange ("AIM"). The Company's trading symbol is "ADA".

11,363,636 new ordinary shares have been allocated to institutional and other
investors at a price of 132 pence per share (the "Placing Price"), raising
approximately £15 million for the Company. On admission to AIM a total of
35,363,636 ordinary shares were in issue capitalising the Company at
approximately £46.7 million at the Placing Price.

Bridgewell is the Company's nominated adviser and broker.

Enquiries:

Adamind
Shailendra Jain, CEO            [phone] on the day and thereafter
                                [phone]

Emblaze
Doron Cohen, Hagit Gal          [phone]/ 339

Philips
Andre Manning                   [phone]

Bridgewell
Giles Elliott, Simon Bridges,
Stephen Cheung                  [phone]

Corfin Communications
Harry Chathli, Neil Thapar      [phone]

NOTES TO EDITORS

Company Overview

Adamind is a provider of media adaptation software that enables multimedia
content applications and services to be accessible across disparate types of
consumer devices such as mobile phones, personal digital assistants ("PDAs") and
personal computers ("PCs").

Adamind's core solution is branded MediaSpire and is primarily targeted at
multimedia messaging service centre ("MMSC") vendors competing in the multimedia
messaging service ("MMS") infrastructure arena, mobile telecoms operators
("Operators") and providers of content services accessible over mobile wireless
networks ("Content Providers"). Adamind sells software licenses for its media
adaptation products on an initial licence fee basis, a usage capacity basis and
also charges a recurring annual support fee.

Adamind's technologies solve the problem of person-to-person ("P2P") media
transmission (one person sending images, video and ring tones, for example, to
another person) between devices that are incompatible due to differing
configurations and enable Operators to launch commercial MMS services that are
available across a variety of different mobile phones and other devices. In
addition, Adamind's solution provides media adaptation for the
application-to-person ("A2P") content delivery market to enable A2P content
services to take place. A2P defines premium content services which originate
from Operators or Content Providers and are targeted to many consumers at the
same time. As part of its A2P media adaptation offering, Adamind can offer
further value-added services embedded within its software solution which could,
for example, include an advertising and branding platform.

Adamind was established as a separate company in 2004 following the merger of
the media adaptation business units of Emblaze (LSE: BLZ) and Philips (AEX:
PHIA, NYSE: PHG) with the goal of forming a global leader in media adaptation
technology.

MMS Overall Market Development

The market in which Operators participate is highly competitive and they are
continually focused on gaining subscribers and improving average revenue per
user ("ARPU") which has traditionally been driven by voice calls. However,
despite the rise in overall number of subscribers, Operators' ARPU has steadily
declined over the past 10 years as air time has become commoditised and voice
call revenues and profits have decreased. Faced with this, Operators have
aggressively sought data based ARPU generators. These include the short message
service ("SMS"), MMS, games and other content services. With the significant
historic success of SMS and the expected plateauing of revenue from SMS in key
global regions, Operators are now investing in the natural evolution of SMS,
MMS, with the expectation of achieving similar rates of growth and revenue.

MMS based services are considered by the Operators to be a key factor in
generating ARPU growth and reducing churn. MMS enabled handsets have been
growing and are expected to represent approximately 50 per cent. of all handsets
sold in 2004, creating the demand required for the launch of commercial MMS
services into the market. Mobile phone vendors such as Nokia, Motorola, Samsung,
Siemens and Sony-Ericsson, that currently account for approximately 70 per cent.
of the MMS handsets manufactured, continue to introduce new MMS enabled phones
to the market on a regular basis. The Directors believe around $3 billion will
be spent on MMS infrastructure in the next 4 years.

With their focus on MMS services, Operators must make interoperability between
devices a certainty by employing media adaptation technologies for a seamless
usage experience independent of the source and destination device types. Without
media adaptation, almost every MMS transaction will be a lost transaction as
messages will not reach the target user or will reach them in an illegible or
distorted format.

The Directors believe that the growth in mobile messaging media adaptation will
be driven by the growth in MMS usage. The P2P MMS services and usage market is
forecast to grow to $13 billion in 2008, of which the Directors estimate the
MMSC related vendor's revenue to be $1 billion. The Directors believe media
adaptation represents between $100 million and $200 million of the MMSC related
vendor's revenue.

Key Advantages of Adamind's Technology

The Directors believe that Adamind has now established itself as a leading media
adaptation technology provider for MMS and that the following factors
differentiate Adamind from its competitors and represent barriers to entry for
potential entrants:

Multi-Format Adaptation - The multi-format approach enables the service provider
to build a product with a clear upgrade path to support the next generation of
devices, formats, media types, protocols and services.

Modular Architecture - To address the challenge of multi-component integration
(i.e. media adaptation, message adaptation, Device Management Tool and unlimited
applications) while reducing MMSC vendor dependency and maintaining the ability
to easily support, upgrade and maintain the system, Adamind has developed a set
of Application Programming Interfaces that allow quick and easy integration to
any existing or future MMS or content download platform.

Applications Over Core - Adamind's MediaSpire technology is easily extendable
into other applications which ensures a short development cycle and a low cost
of ownership for each and every application added into MediaSpire. Such
applications will include value added services such as advertisement, digital
rights management and anti-abuse software which can be built on top of the core
platform, thus reducing the time and resources required for further development
and customisation.

Proven Product - Adamind currently has over 80 operational deployments and
continues to build more as a result of the strong relationships it has
established with the MMSC vendors. Adamind's technology is now known and
accepted in the market and both MMSC vendors and Operators are keen to work with
them.




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