Exercise of Share Options

Gresham Computing PLC
27 September 2004

For immediate release                                         27 September 2004

                              Gresham Computing plc
                          ('Gresham' or 'the Company')

The Company announces that following the exercise of executive share options,
50,000 new ordinary shares of 5p each have been issued today, taking the total
number of outstanding ordinary shares of 5p each to 49,470,788.

The new ordinary shares will rank pari passu in all respects with the existing
issued shares. Application has been made to the UK Listing Authority to admit
the new ordinary shares. Trading in the new shares is expected to commence on 1
October 2004.

                                     -ends-

For further information please contact:

Gresham Computing plc                                             01489 555 500
Chris Errington, Finance Director

Weber Shandwick Square Mile                                       020 7067 0700
Christian Taylor-Wilkinson/Sarah Richardson




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