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e-primefinancial PLC (EPF)

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Thursday 28 August, 2003

e-primefinancial PLC

Share Consolidation,EGM & AGM

e-primefinancial PLC
28 August 2003


           e-primefinancial plc ('e-primefinancial' or the 'Company')

Share Consolidation, Notice of Extraordinary General Meeting ('EGM') and Notice
                       of Annual General Meeting ('AGM')

The Company previously announced its intention to consolidate its share capital
to reduce the cost of administering its large shareholder base. These costs are
both significant and disproportionate to a company of e-primefinancial's size.

The Board is therefore proposing to consolidate the existing Ordinary Shares of
0.5p each in the capital of the Company ('Existing Ordinary Shares') on the
basis of 1 new Ordinary Share of £35 each in the capital of the Company ('New
Ordinary Share') for every 7,000 Existing Ordinary Shares, to be effected by the
passing of the resolution to be proposed at the EGM to be convened on 22
September 2003 at 9:00 a.m. for this purpose ('Share Consolidation'). Other than
the change to the nominal value, the New Ordinary Shares will have the same
rights as the Existing Ordinary Shares including voting, dividend and other
rights.

Fractional entitlements arising from the consolidation shall be aggregated to
form New Ordinary Shares and will be purchased by Seymour Pierce as principal by
way of an on-market transaction following which an equal number of New Ordinary
Shares will be sold by way of an on-market transaction by Seymour Pierce to the
Company for cancellation. The purchase price per share to be paid for the New
Ordinary Shares resulting from the aggregation of the fractional entitlements,
will be the average weighted price per Existing Ordinary Share paid by the
Company to buy back shares in the market since the tender offer in November 2002
(currently 2.4p per Existing Ordinary Share) or 5 per cent. above the average
middle market price per Existing Ordinary Share for the five dealing days
preceding the date of purchase, whichever is lower, multiplied by 7,000. The
proceeds of such sale will be paid to shareholders otherwise entitled thereto,
provided that, in compliance with the rules of the London Stock Exchange,
individual amounts of less than £3.00 will be retained for the benefit of the
Company.

The Board also announces its intention to convene the 2003 AGM of the Company to
be held at the offices of Memery Crystal, 31 Southampton Row, London WC1B 5HT on
22 September 2003 at 9:15 a.m. or, if later, immediately after conclusion of the
EGM.

Further information with regard to the Share Consolidation, Notice of EGM and
Notice of AGM is included in a circular which is being sent to shareholders
today. Further copies are available from the offices of Seymour Pierce Limited,
Bucklersbury House, 3 Queen Victoria Street, London EC4N 8EL.


Enquiries:

Lance O'Neill      e-primefinancial plc                  020 7499 8334
Nigel Duxbury      e-primefinancial plc                  020 7499 8334
Mark Percy         Seymour Pierce Limited                020 7107 8000


The timetable for the proposed Share Consolidation is as follows:

Latest time for receipt of Forms of Proxy for the EGM       20 September 2003

Latest time for receipt of Forms of Proxy for the AGM       20 September 2003

EGM                                            9:00 a.m. on 22 September 2003

AGM                                            9:15 a.m. on 22 September 2003

Record date for the Share Consolidation                     22 September 2003

Admission to AIM of New Ordinary Shares                     23 September 2003

CREST accounts credited with New Ordinary Shares            23 September 2003

Despatch of definitive share certificates in respect of     
New Ordinary Shares                                         26 September 2003

Despatch of remittances in respect of fractional        
entitlements                                                  3 October 2003









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

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