Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Monday 31 January, 2000


e-Commerce Deal Signed with GE Equity

31 January 2000

For further information:

AIT Group plc
Tom Crawford, Chief Financial Officer             Tel: 01491 416600
Clive McNamara, Marketing Director

Financial Dynamics                                Tel: 0171 831 3113
Edward Bridges/ Deborah Ardern-Jones

                                 AIT Group plc


AIT  Group  plc  ('AIT' or 'the Company'), the UK based product developer  and
systems  integrator  which  specialises in the  development  of  multi-channel
customer interaction solutions for retail financial services, has entered into
an  agreement with GE Equity covering work carried out for the subsidiaries of
the world-wide GE Company.

AIT  are  in  the final stages of negotiation with GE Capital Global  Consumer
Finance  (UK)  to  provide  an  e-commerce  infrastructure  that  will  enable
customers to access their card accounts and carry out transactions through the
Internet. The signing of this specific contract is expected in the next month.
The partnership is expected to provide further e-commerce opportunities in the
coming months.

The partnership comprises a three-year option agreement signed on 28th January
2000  between GE Equity Investments and certain directors and founders of AIT,
namely Richard Hicks (Chairman), Clive Hicks (Business Services director)  and
Garfield  Collins  (Non-executive Director). The three-year  option  agreement
provides  for the grant of options over a capped level of existing AIT  equity
according  to  a pre-agreed formula, based on the revenue value  of  contracts
awarded to AIT by the GE Company. No new shares will be issued as a result  of
this option agreement and the maximum amount of equity to be transferred under
this  option agreement is 608,800 shares, representing just under  3%  of  the
current  issued  share capital of the Company. Richard Hicks  will  set  aside
395,720  shares for options, Garfield Collins 121,760 and Clive  Hicks  91,320
shares,  and upon the maximum grant of options their holdings would be 16.00%,
5.37% and 4.00% respectively.

The  exercise price will be based on the average of closing share prices  over
the  six  months to 6th March 2000, and the agreement will have  a  three-year

Richard Hicks, Chairman of AIT commented:
   'We  are  very  excited  to be forming this partnership  with  one  of  the
   world's  largest  financial  services organisations,  and  see  the  option
   agreement  as  a  unique  way of cementing our relationship  for  the  long
Carl Rigby, Chief Executive Officer of AIT added:
   'This  partnership is an important development for AIT.  It will  help  AIT
   to  build  its  e-commerce revenues yet further, providing substantial  new
   business  opportunities both in the UK and internationally and  strengthens
   AIT's  position  as  the leading provider of e-commerce  solutions  to  the
   financial services industry.'
Christian Braun, Director GE Equity, today commented:
   'We  are  very  pleased with the agreement with AIT. They have  a  thorough
   understanding of the issues surrounding a multi-channel financial  services
   strategy,  and we are sure they will be able to help many of GE's operating
   businesses in the future.'


a d v e r t i s e m e n t