Heads of Agreement Signed

Toad PLC 31 July 2000 TOAD(r) signs Heads of Agreement with Carglass S.A TOAD(r) announced today that it had signed a Heads of Agreement with Carglass S.A, which subject to a formal contract being signed, will enable TOAD(r) to launch an internet driven audio, security and multi-media service in Paris at the end of the year. Carglass S.A will initially have a 20% stake in the proposed joint venture, rising to 30% in the third year when certain performance targets are met. It is planned that the new joint venture will operate under the toade.com name, with toade.com display terminals placed in all of Carglass' 39 Paris branches; a call centre, mobile installation service and warehouse operating out of Carglass' existing facilities and Carglass' sales force promoting the audio, security and multi-media services to their existing customer database. The director's estimate that Toad's potential investment will amount to approximately £300,000. Carglass S.A is France's leading automotive glass replacement company. It has contracts with all the major European insurance companies turning approximately £93m in 1999. (The CARGLASS(r) brand is the French version of the AUTOGLASS(r) brand in the UK) John Lewin, Chief Executive of TOAD(r) said: 'This is an excellent proposition for TOAD(r). Carglass S.A have a well established, market leading operation in France and we are delighted our first steps into Europe will be through a joint venture with Carglass S.A. The launch in the Paris region will provide us with a blueprint for our expansion into the rest of Europe.' Pierre-Franck Mironneau, Managing Director of Carglass S.A. said: 'We are delighted to be developing a joint venture with TOAD(r). We see tremendous potential in the toade.com internet-led operation offering an audio, security and multi-media installation service to both the retail public and insurance companies in France.' Issued on behalf of TOAD plc July 31st 2000 By Tony Edwards ANTHONY EDWARDS PUBLICITY TEL 01932 336161 FAX 01932 336131 Mobile 041-002-5957