Disposal

Auxinet PLC 23 July 2001 auxinet plc auxinet plc announces that it has withdrawn from its recruitment activities with effect from 3 August 2001, subject to completion. The employees of the Corporate Executive Search business are transferring to Renoir Partners, who are paying Auxinet a nominal sum for certain items of goodwill, existing employment and certain other contracts, the contacts database and the trading names of CorpExec and Corporate Executive Search. As previously reported, the recruitment activities have produced disappointing trading so far this year, and there are little signs of any recovery. The Board of auxinet, who have been attempting to dispose of this activity for some time, concluded that the investment of management time and capital required to support this business could not be justified. auxinet are now able to concentrate fully all its resources on the development of its rapidly growing payments businesses, DataCash and Platima, and, as reported after the recent placing, is confident that the payment business will provide a rapidly growing, cash generative, profitable business as we move forward. Enquiries: John Coyle, Clerkenwell Communications Tel: 020-7713 0900