Chairman's Statement

Auxinet PLC 27 July 2000 Auxinet plc - AGM Statement 27th July 2000 David Bailey, Chairman of auxinet plc, made the following statement to today's AGM. 'I am pleased to report that the Company continues to progress well. DataCash continues to see strong volume growth in transactions, with June 2000 seeing 424,000 transactions, up from 330,000 in May. This contrasts with the June 1999 figure, when a total of 44,000 transactions were processed. The prospects for future development of DataCash remain excellent, with both client acquisition and transactions volumes expected to continue their rapid growth, enhanced by the recently announced ntl: reseller deal and by the development of additional sales channels such as call centres. We are also exploring opportunities to extend DataCash's products and services overseas. To support the rapid development of DataCash we have invested heavily in recruiting management and sales staff from major blue chip companies and we are confident that this will provide a sound base upon which to build. Turning to the recruitment business, boldly-go.com, our on-line recruitment business, has built upon its successful launch and offers substantial potential value. CorpExec continues to perform well, having won significantly more retainers and clients than in the corresponding period last year. I would conclude by saying that we look forward to the future with considerable confidence.'