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Ultima Networks plc (UTN)

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Wednesday 17 May, 2006

Ultima Networks plc

Holding(s) in Company

                               Ultima Networks PLC
                           ("Ultima" or "the Company")



The  Company  has  been  informed that the Akhter Group  plc  Funded  Unapproved
Retirement Benefit Scheme sold 530,000 Ordinary Shares of 1p each in the Company
to  the  Akhter Group plc Directors' SSAS Pension Fund at a price of  1.125p  on
Tuesday  16 May, 2006. The Akhter Group plc Funded Unapproved Retirement Benefit
Scheme  consequently holds no Ordinary Shares of the Company whilst  the  Akhter
Group plc Directors' SSAS Pension Fund holding now amounts to 6,013,360 Ordinary
Shares  comprising  2.94% of the Ordinary Shares in issue. Both  these  holdings
comprise  part  of  the  holding of Akhter Group plc  and  related  parties,  as
reported  in  the Company's Annual Report and Accounts, consequently  there  has
been  no change to the total held by Akhter Group plc and related parties, which
remains at 100,075,176 Ordinary Shares comprising 48.88% of the Ordinary  Shares
in issue.

Date: 17 May, 2006

Contact:

Rob Piper, Finance Director, tel; 01279 821200