Trading Update

Auxinet PLC
14 January 2003



                                  Auxinet plc

                                 Trading Update

Auxinet plc, the AIM-listed Payments solution provider, is pleased to announce
that, as forecast in the interim statement issued in September 2002, it has
achieved both underlying profitability, before goodwill amortisation, and cash
positive status since September 2002. All figures are unaudited.


DataCash Ltd, the operating company, processed in excess of 18m credit and debit
card transactions in 2002, up from 9m in 2001. The value of transactions
processed on behalf of our merchants is now approximately £150m per month
providing compelling evidence that e-commerce is the fastest area of growth
within the UK consumer market. We have added significant new merchants to our
client list in the last year and we are optimistic about the opportunities in
2003.


With the exception of the impact of the contract with ntl that was discontinued
in the summer of 2001 DataCash has achieved continuous quarterly growth in
revenues since the company was formed in September 1997. Because of the annuity
nature of our business model we are confident that this trend will continue.


We quadrupled our transaction processing capacity in the first half of the year
leaving us with the ability to take on significant further growth in transaction
business with marginal increase in costs. We are pleased with the reliability of
the service that we provide to our customers, who are dependent on continuous
availability, and have delivered system availability of 99.999% in the second
half of 2002.


We have entered 2003 with every confidence of achieving the Board's objective of
consistently profitable, cash generative growth and look forward to reporting on
progress with the results for 2002, which we expect to publish in early April.


The Board of Auxinet plc will make a proposal at the next AGM to change the name
of the Group to be consistent with our brand name of DataCash. If approved, our
new name will be DataCash Group plc.


For further information please contact David Bailey on 08707 274760 or e-mail
[e-mail]


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