Notification of Major Interest in Shares

+------------------------------------------------------------------------------+
|TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                |
+----------------------------------------------+-------------------------------+
                                               |
+----------------------------------------------+-------------------------------+
|1. Identity of the issuer or the underlying   |                               |
|issuer                                        |   Intec Telecom Systems Plc   |
|of existing shares to which voting rights are |                               |
|attached:(ii)                                 |                               |
+----------------------------------------------+-------------------------------+
|2 Reason for the notification (please tick the appropriate box or boxes):     |
+---------------------------------------------------------------------+--------+
|An acquisition or disposal of voting rights                          |        |
+---------------------------------------------------------------------+--------+
|An acquisition or disposal of qualifying financial instruments which |        |
|may result in the acquisition of shares already issued to which      |        |
|voting rights are attached                                           |        |
+---------------------------------------------------------------------+--------+
|An acquisition or disposal of instruments with similar economic      |  Yes   |
|effect to qualifying financial instruments                           |        |
+---------------------------------------------------------------------+--------+
|An event changing the breakdown of voting rights                     |        |
+-----------------------+---------------------------------------------+--------+
|Other (please specify):|                                             |        |
+-----------------------+--------------+------------------------------+--------+
|3. Full name of person(s) subject to  |                                       |
|the                                   |  Cheyne Capital Management (UK) LLP   |
|notification obligation:(iii)         |                                       |
+--------------------------------------+---------------------------------------+
|                                      |                                       |
|4. Full name of shareholder(s)        |                                       |
| (if different from 3.):(iv)          |    Fund managed by Cheyne Capital     |
|                                      |          Management (UK) LLP          |
+--------------------------------------+---------------------------------------+
|5. Date of the transaction and date on|                                       |
|which the threshold is crossed or     |          1(st) November 2010          |
|reached:(v)                           |                                       |
+--------------------------------------+---------------------------------------+
|6. Date on which issuer notified:     |          2(nd) November 2010          |
+--------------------------------------+---------------------------------------+
|7. Threshold(s) that is/are crossed or|                  3%                   |
|reached:(vi, vii)                     |                                       |
+--------------------------------------+---------------------------------------+
|8. Notified details:                  |                                       |
+-----------------------+--------------+-------+----------------------+--------+




+------------------------------------------------------------------------------+
|A: Voting rights attached to shares (viii, ix)                                |
+-----------+--------------+---------------------------------------------------+
|Class/type |Situation     |Resulting situation after the triggering           |
|of         |previous      |transaction                                        |
|shares     |to the        |                                                   |
|           |triggering    |                                                   |
|if possible|transaction   |                                                   |
|using      +------+-------+-------+------------------+------------------------+
|the ISIN   |Number|Number |Number |Number of voting  |% of  voting rights (x) |
|CODE       |of    |of     |of     |rights            |                        |
|           |Shares|Voting |shares |                  |                        |
|           |      |Righ s +-------+--------+---------+------+-----------------+
|           |      |       |       |Direct  |Indirect |Direct|Indirect         |
|           |      |       |       |(xi)    |(xii)    |      |                 |
+-----------+------+-------+-------+--------+---------+------+-----------------+
|           |      |       |       |        |         |      |                 |
|N/A        |      |       |       |        |         |      |                 |
|           |      |       |       |        |         |      |                 |
|           |      |       |       |        |         |      |                 |
+-----------+------+-------+-------+--------+---------+------+-----------------+

+------------------------------------------------------------------------------+
|B: Qualifying Financial Instruments                                           |
+------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                          |
+------------+----------+--------------+---------------+-----------------------+
|Type of     |Expiration|Exercise/     |Number of      |% of voting            |
|financial   |date(xiii)|Conversion    |voting         |rights                 |
|instrument  |          |Period(xiv)   |rights that may|                       |
|            |          |              |be             |                       |
|            |          |              |acquired if the|                       |
|            |          |              |instrument is  |                       |
|            |          |              |exercised/     |                       |
|            |          |              |converted.     |                       |
+------------+----------+--------------+---------------+-----------------------+
|N/A         |          |              |               |                       |
+------------+----------+--------------+---------------+-----------------------+

 +----------------------------------------------------------------------------+
 |C: Financial Instruments with similar economic effect to Qualifying         |
 |Financial Instruments (xv, xvi)                                             |
 +----------------------------------------------------------------------------+
 |Resulting situation after the triggering transaction                        |
 +------------+---------+-----------+--------------+-----------+--------------+
 |Type of     |Exercise |Expiration |Exercise/     |Number of  |% of voting   |
 |financial   |price    |date (xvii)|Conversion    |voting     |rights (xix,  |
 |instrument  |         |           |period(xviii) |rights     |xx)           |
 |            |         |           |              |instrument |              |
 |            |         |           |              |refers to  |              |
 |            |         |           |              |           |              |
 +------------+---------+-----------+--------------+-----------+-------+------+
 |            |         |           |              |           |Nominal|Delta |
 +------------+---------+-----------+--------------+-----------+-------+------+
 |CFD         |         |N/A        |N/A           |9,718,763  |3.08%  |3.08% |
 +------------+---------+-----------+--------------+-----------+-------+------+
+------------------------------------------------------------------------------+
|Total (A+B+C)                                                                 |
+---------------------------+--------------------------------------------------+
|Number of voting rights    |Percentage of voting rights - delta adjusted      |
+---------------------------+--------------------------------------------------+
|                           |                                                  |
|9,718,763                  |3.08%                                             |
|                           |                                                  |
+-----------++-----+----+--++------+---+----+---------++-----+-----------------+



+--------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or|
|the                                                                       |
|financial instruments are effectively held, if applicable:(xxi)           |
+--------------------------------------------------------------------------+
|                                                                          |
|None                                                                      |
+--------------------------------------------------------------------------+


+--------------------------------------------------------------------------+
|Proxy Voting:                                                             |
+-------------------------------------------------+------------------------+
|10. Name of the proxy holder:                    |                        |
+-------------------------------------------------+------------------------+
|11. Number of voting rights proxy holder will    |                        |
|cease                                            |                        |
|to hold:                                         |                        |
+-------------------------------------------------+------------------------+
|12. Date on which proxy holder will cease to hold|                        |
|voting rights:                                   |                        |
+-------------------------------------------------+------------------------+

+-----------------------------+--------------------------------------------+
|                             |                                            |
|13. Additional information:  |None                                        |
+-----------------------------+--------------------------------------------+
|14. Contact name:            |Aurelie Lauduique                           |
+-----------------------------+--------------------------------------------+
|15. Contact telephone number:|020 7698 7351                               |
+-----------------------------+-------------------+------------------------+







[HUG#1458254]








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Source: Intec Telecom Systems Plc via Thomson Reuters ONE