Statement re CybIT

Billam PLC
1 March 2002


                              Billam Plc (Billam)



                      Investee company CybIT Holdings plc





The directors of Billam are pleased to report that CybIT Limited (CybIT), a
wholly owned subsidiary of Aim listed CybIT Holdings plc, announced the
acquisition of the business and assets of Fleetstar Information Systems Limited
(Fleetstar) from its parent Trafficmaster plc.  The executive of Billam
identified the opportunity, initiated the transaction and are supportive of
CybIT.



Fleetstar has in excess of 2,000 telematic units installed across the UK and is
already delivering significant return on investment for fleet operators and a
growing number of service sector customers through strategic partnerships with
major UK organisations such as Norwich Union Insurance.



'This is an exciting acquisition for CybIT as it continues our momentum into the
UK market and immediately positions the combined CybIT/Fleetstar business as a
top three UK telematics based asset management vendor, effectively doubling the
size of our UK operation,' commented Richard Horsman, CEO of CybIT.  ''In
Fleetstar we're taking on a going concern, while our ongoing strategic
partnership with Trafficmaster also gives CybIT a pipeline of excellent traffic
information products and services which we can integrate within our current
product portfolio,....'



The assets and Intellectual Property of the business to be acquired by CybIT
have a book value significantly greater than the £1.5 million consideration. The
consideration for the assets and business of Fleetstar will be satisfied by the
issue of 56,250,000 new Ordinary shares of 1p each in the Company ('Ordinary
Shares') to Fleetstar and an initial payment to Fleetstar of £600,000 in cash,
followed by a deferred payment of £150,000 in cash which is payable on 2
September 2002. The new Ordinary Shares issued as consideration to Fleetstar
represent 8.4 per cent of the enlarged issued share capital of the Company. In
addition, as part of the consideration the Company is to issue certain warrants
exercisable until 31 December 2006 (the 'Warrants') to Fleetstar to subscribe
for up to 33,508,717 Ordinary Shares at 4.5 p and 33,508,718 new Ordinary shares
at 6.5 p per share.



Billam will retain 40.5 % of the enlarged entity before the exercise of the
warrants.





For further information please contact Peter Hoskins 020 7702 5544





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