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Ultima Networks PLC (UTN)

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Friday 17 May, 2002

Ultima Networks PLC

Restoration of Listing

Ultima Networks PLC
17 May 2002

17 May 2002

Ultima Networks PLC (the 'Company') - Restoration of Listing

On 8 February 2002, the Company announced that it was required by the UK Listing
Authority ('UKLA') to meet a number of conditions prior to the UKLA restoring
the Company's listing under paragraph 1.18 of the Listing Rules.

These conditions included, inter alia, the release of the Company from its
Company Voluntary Arrangement ('CVA') and confirmation that the Company had
sufficient working capital for its present requirements.

The Company has confirmed, in writing, to the UKLA that it was released from the
CVA on 24 April 2002.

In addition, in the opinion of the Company's Directors, taking into account the
bank and other facilities available to the Company and its subsidiaries
(together, the 'Group'), the Group has sufficient working capital available for
its present requirements, that is, for at least the next 12 months from the date
of the restoration of the Listing.

The Directors can now confirm that all the UKLA's conditions have been met and
hence, it is expected that the restoration of the Company's listing will become
effective and that dealings in the ordinary shares of the Company will
re-commence on 20 May 2002.

A statement on the Company's outlook was made in the announcement of the final
results for the year ended 31 December 2001, made on 30 April 2002.

17 May 2002

                      This information is provided by RNS
            The company news service from the London Stock Exchange