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PremiSys Tech. PLC (ASE)

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Thursday 07 June, 2001

PremiSys Tech. PLC

Stmnt re Subsidiary

PremiSys Technologies PLC
7 June 2001

                            PREMISYS TECHNOLOGIES PLC                         

                               SUBSIDIARY ASITE
PremiSys Technologies plc (AIM: PSS) 'PremiSys', the AIM listed services
group, today announces that Land Securities PLC, Britain's largest quoted
commercial property investment, development and property services group;
Grosvenor, the UK's largest private property company; business park specialist
MEPC Ltd; Standard Life Investments, one of the world's leading financial
services groups, and leading retailer J Sainsbury plc are the latest big
clients in the construction industry to take shareholdings in Asite, the
construction Internet portal.

The new equity partners were announced at Asite's Construction Industry Summit
in front of 350 senior industry figures drawn together by Asite chairman Sir
John Egan.

Sir John told the distinguished audience that he saw Asite as a way to move
the construction industry to the next level of change and improvement. 'I was
intrigued when eight months ago I was approached by a major group of clients
with this idea for developing a web based business whose strategy, business
objectives and values aligned with the recommendations of the 'Rethinking
Construction' report,' he said.

'By harnessing and aligning economic imperatives to the changes advised by the
Construction Taskforce, Asite represents a mechanism by which our
recommendations can be delivered: eliminating waste, integrating the supply
chain and standardising best practice.  Supported by some of the best
technology companies in the world and some of the most progressive
construction and property companies, Asite is building on the foundations laid
by the Movement for Innovation.'

Asite's new shareholders join an impressive list of major construction players
that have already taken a stake in Asite.  In March, Asite announced that AXA,
BAA, British Land, Legal & General, Mace, Morley Fund Management, Prudential,
St Modwen and Tishman Speyer had become equity partners.

Land Securities currently has a £2billion development programme, and over
£7billion of investment properties.  Mike Griffiths, chief executive of Land
Securities Development, said: 'We are excited by the opportunities Asite
offers to significantly improve our processes year on year.  Sir John is right
- the process efficiencies and cost benefits from synchronising the supply
chain and eventual component standardisation will help us not only in the
improvement of our accommodation and services to the business community, but
also in convincing investors to have greater confidence in the capacity of the
sector to deliver enhanced returns.'

Jeremy Titchen, commercial director of Grosvenor, also confirmed their
interest in what Asite is offering: 'We are always on the lookout for
innovative ways to improve the development process, both for our partners and
for ourselves.  We like Asite's vision and look forward to the benefits the
portal will deliver.'

MEPC owns and operates major business parks across the UK and has a current
and potential development programme worth over £1.2billion.  It will be
submitting several projects in order to evaluate the impact of Asite's online
collaboration, knowledge sharing and procurement toolkit.  Chief executive
Jamie Dundas said: 'MEPC supports the total supply chain integration that the
Egan Report advocates, and we see Asite as a mechanism to achieving this,
unlocking value throughout the business.'

Sainsbury's has also embraced e-commerce with a bold business-to-business
venture to radically change the way it buys goods.  Ian Coull, Sainsbury's
group property director explained: 'The Internet has already had a huge,
positive impact on the way Sainsbury's purchases its goods and I can vouch for
the greater efficiencies and cost savings it has brought.  Asite offers us a
way of extending these benefits to Sainsbury's property company at a key time
in its evolution into the wider mixed use sector as well as supporting the new
build and refurbishment programme underway with our £5billion property

Standard Life Investments is currently developing over £1billion of commercial
property in the UK and continental Europe.  David Paine, investment director,
commented: 'As a global property developer with about 7.5million sq ft under
construction across Europe and the UK at the present time, we are committed to
improving efficiency in all aspects of construction.  We actively seek out
opportunities such as Asite which offer us the prospect of significant cost
and time savings in the development process.'

Asite is a subsidiary of PremiSys Technologies plc, an AIM listed property
services and investment group, and has been developed with the active
participation of leading construction and technology partners, including Rotch
Property Group, Stanhope plc, Microsoft and
Commerce One.  In the first three months of its pilot phase, Asite secured 27
projects worth more than £1billion and saw daily trading over the marketplace
of up to £450,000 per day.

For further information contact:

PremiSys Technologies
Walter Goldsmith, Chairman                                Tel:  020 7388 4890
Charles Woods, Finance Director

Gavin Anderson & Company
Neil Garnett/Rebecca Penney/Yolande Stratford             Tel:  020 7457 2345


PremiSys Technologies plc
PremiSys Technologies plc, formerly PremiSys Group plc, is an AIM listed
property services and investment group. Over the last 12 months the company
has been undergoing significant change in strategic direction, with the
objective of building a core of technology-focused businesses. As a part of
that strategy, PremiSys has been developing its Asite subsidiary. The
objective is for this site to become the leading pan-European business-to-
business construction portal.

The Asite construction portal has been developed by PremiSys Technologies,
with the active participation of Stanhope plc, Rotch Property Group and Aurora
Investments (the private investment vehicle for partners in KKR) and with
technology partners, Microsoft, Commerce One, Dynamis Solutions, Intel,
Compaq, Attenda, Glue and Aspect Internet. The portal was launched in October

Over recent months, a number of major construction industry players have
become shareholders in Asite. These new shareholders include; AXA, BAA,
British Land, Legal and General, Mace, Morley Fund Management, Prudential, St
Modwen and Tishman Speyer.