Re Directorate

Auxinet PLC 21 December 2001 AUXINET PLC Re: Directorate 21st December 2001 Auxinet plc , the AIM listed Payment Service Provider announces the resignation, with immediate effect, of its CEO, Marc Wood. to pursue other interests. As an interim measure, David Bailey, the Chairman, will also assume the duties of Chief Executive. In addition, Julian Compton, the Finance Director, has indicated a desire to seek new challenges after 5 years with the Group, and announces his resignation from the Group with effect from 31st December 2001. Julian has been intimately involved in all the changes to the Company in the past 5 years and we would like to thank him for his efforts and wish him well for the future. It is anticipated that the announcement of a replacement Finance Director will be made early in the New Year. David Bailey, the Chairman, commenting upon trading, said that ' It is encouraging to report that transaction activity within DataCash has grown at an accelerated pace in the second half of the year, with October being a landmark month when, for the first time in the Company's history, more than 1m transactions were processed in a single month. Total transactions for the second half are forecast to exceed 5m compared to 3.6m in the first half. The Platima product has disappointed us so far in failing to produce any significant revenues, although there are several Business-to-Business initiatives in negotiation. The Board remains confident that the Group will achieve profitability in 2002'. For further information contact: David Bailey 07836 258558