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Legendary Invest PLC (LEG)

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Tuesday 10 October, 2000

Legendary Invest PLC

Strategic Investments

Legendary Investments PLC
10 October 2000


                   LEGENDARY INVESTMENTS PLC

           Announcement of two strategic investments

Legendary  Investments  plc  ('Legendary'),  the  AIM   listed
development  capital group, is pleased to  announce  strategic
investments in Cryptic Software Limited ('Cryptic') and Global
Money  Transfer Plc. Both investments are based on Legendary's
stated  investment  criteria of experienced management,  wide-
ranging  projected market for products and services,  ease  of
entry into and growth of product marketplace.

Legendary  has purchased a 2% holding for £200,000 in  Cryptic
Software plc, which has developed an integrated suite of tools
designed  to protect systems from Hackers, misuse,  abuse  and
fraud.

Cryptic's  trademarked  product CyberSight,  based  on  client
server  technology and incorporating unique 'shape technology'
ensures  fast  and  efficient detection  across  the  network,
including the ability to rigorously dissect and detect  hidden
threats  and files that have been changed to other file  types
to evade discovery.

The  technology  on which the product is based  is  the  first
available which allows a huge range of security threats to  be
indexed,  detected and eradicated. The system is  believed  to
provide more comprehensive protection than any known rival and
recently  won  its  first major order. The  company  plans  to
market the product in the USA and Europe.

Cryptic's management team comprises:

*    David  Duke,  founder and developer, is a  specialist  in
     developing  secure IT systems for major corporations.  He
     has  worked with the government for whom he has developed
     systems at classified level.
*    Bob  Morton, the Chairman has interests in companies such
     as Vislink, Harrier and Jordec
*    Terry  Bingham,  the  Chief  Executive  of  Cryptic   was
     formerly managing director of the Misys subsidiary ACT
*    Sandy Mackenzie, former international sales and marketing
     director of anti-virus company Dr Soloman.
*    Nigel  Moulding formerly of Price Waterhouse Coopers,  an
     experienced financial director in the IT sector.

An  investment  of £200,000 for a 2.5% equity stake  has  been
made  in  Global  Money Transfer plc (GMT). Legendary  has  an
option  over  a  further  2.5% based  on  the  achievement  of
specific trading objectives.

GMT, which was formed in 1997, has developed a unique patented
technology to allow computerised international money transfers
for  the  retail market, safely and securely.   Transfers  are
made  via  its  call centre in Liverpool and  network  of  140
agencies  across  Britain which are  linked  directly  to  the
company's systems.

The  product  is  aimed at allowing UK residents  to  transfer
funds  overseas in a paperless manner and at a fixed  exchange
rate.  The  size  of  the retail market in  the  UK  alone  is
estimated to be circa £5 billion per annum, with the worldwide
market  at  £100  billion and growing at  15%  per  annum.  At
present  GMT  offers its service to India, Pakistan,  Nigeria,
Ghana,  Jamaica,  Trinidad and Tobago with  further  expansion
into new territories expected in coming months.

Stuart  MacDonald, GMT's Chairman, is formerly a  Director  of
Rothschilds  and  Joint MD of London &  Edinburgh  Trust.  The
Finance Director is Jon Francis, formerly Finance Director  of
Courage Brewery and Director of Royal Insurance (UK) Ltd.   It
is  planned that Legendary, through its extensive contact base
and expertise, will assist GMT in developing its retail base.

Legendary  also  announces that a further  investment  in  its
portfolio  will  shortly  become a  publicly  traded  company.
Orbital  Software  Holdings plc,  a  leading  provider  of  e-
business solutions, has recently published Listing Particulars
in  relation  to its listing on the Official List  of  the  UK
Listing  Authority  and inclusion in the techMARK  Index.  The
market capitalisation at the placing price is expected  to  be
£65.1  million, giving Legendary a significant uplift  on  its
original investment.


Shami Ahmed, Chief Executive, Legendary Investments commented

'Both of these companies meet our investment criteria and have
been identified as having the potential to achieve significant
growth.  Each  benefits  from an experienced  management  team
whom,  with  a  clearly  focused strategy,  will  drive  their
products   and  services  firmly  into  the  rapidly   growing
marketplaces  in  which they operate. We have  a  very  strong
pipeline of other active, qualified prospects.'

                                               10 October 2000

Enquiries:

Legendary  Investments plc              Tel: 020 7743 6010
Shami Ahmed, Chief Executive

College Hill Associates                 Tel: 020 7457 2020
Michael Padley/Nicholas Nelson




                                                                                
                                    

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