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Future Integrated (FUR)

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Friday 21 December, 2001

Future Integrated

AGM Statement

Future Integrated Telephony PLC
21 December 2001

FUTURE INTEGRATED TELEPHONY PLC

ANNUAL GENERAL MEETING STATEMENT


The company held its Annual General Meeting this morning and all of the
resolutions were duly passed.

The Chariman of the meeting read out the following statement:

'The dealing in the Company's shares was suspended on 3 August 2001 due to a
leak of price sensitive information in relation to a possible acquisition of
Eurotel Systems Limited. This transaction would be classified as a reverse
takeover and hence the shares were suspended pending the publication of full
details of the acquisition and the requisition of a shareholder's meeting to
approve it.


Whilst discussions are still continuing, certain conditions and requirements
were stipulated by the directors of Eurotel before the transaction could be
progressed further. Some of these have been satisfied whilst others remain
unresolved.


Although the Company is holding its Annual General Meeting for 2001 today,
which is a requirement of the Companies Act, the Company has not yet been able
to complete its financial statements for the year ended 31 May 2001. The
reason for this delay is because there are a number of important matters,
which are currently being discussed by the Board, which will have a material
effect on those accounts.


The Board hopes that it will be able to resolve these matters shortly and be
in a position to publish the results in the near future. A separate meeting of
shareholders will be convened to approve the accounts once they have been
published'.


END

                                                                                
                                                                                

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