Issue of Equity

Gresham Computing PLC
14 July 2003


For immediate release                                             14 July 2003

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

The Company announces that following the exercise of SAYE options, 930 new
ordinary shares of 5p each have been issued today, taking the total number of
outstanding ordinary shares of 5p each to 48,670,262.

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 18
July 2003.

                                     -ends-

For further information please contact:

Gresham Computing plc                                            01489 555500
Dean Osman, Finance Director

Weber Shandwick Square Mile                                     020 7067 0700
Christian Taylor-Wilkinson







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