Heads of Agreement with DataCash Ltd

Corporate Executive Search International PLC 14 December 1999 Corporate Executive Search International Plc in Talks with DataCash Limited Corporate Executive Search International Plc ('Corporate') announced today that it had signed heads of agreement to purchase the whole of the issued share capital of DataCash Limited ('DataCash'), a leading processor of internet based credit card payments in the UK. The proposed transaction remains subject to contract, due diligence, approval of its shareholders in General Meeting, a granting of dispensation of Rule 9 of the City Code on Takeovers and Mergers by the TakeOver Panel and terms and conditions being agreed. Should this acquisition be completed it will be a reverse takeover and as a result, and in accordance with the rules of the Alternative Investment Market of the London Stock Exchange ('AIM'), the Directors have requested the London Stock Exchange to suspend trading in the Company's shares on AIM. Corporate is one of the most active search consultants focused exclusively on the European technology sector and in particular the high technology start-up markets. As a result of recent search activity in the dot.com market Corporate will launch Boldly-Go.com, in January 2000, as a web-enabled business to position itself as the de-facto supplier of board level candidates for the dot.com market-place. DataCash has been established for over two years as a payment solutions gateway and is approved by and integrated with all the major UK acquiring banks. DataCash has an existing client base that includes specialist e-tailers such as LastMinute, QXL, BlackStar, BlueSQ, Scoot and Freecom as well as blue chip companies such as Compaq, Waterstones, Telewest and Tiny Online. The combination of Corporate and DataCash will move the Group positively into the e-enabling arena as a market develops to support the growth of businesses developing and implementing an e-commerce strategy. A further announcement will be made once terms and conditions have been agreed and an explanatory circular has been sent to shareholders. Until that time, trade in the Company's securities on AiM will remain suspended. For further information please call Julian Compton of Corporate Executive Search International Plc on 0171 550 1000.