As anticipated at the time of the flotation in May, the Company is pleased to announce the launch of its 1460 Session Controller ("Session Controller"). The Session Controller has been released for laboratory trials that will take place with a number of service providers and channel partners over the coming months leading to in-service trials and corresponding sales revenues.

In addition, a successful functional demonstration of the Session Controller has already been completed with a major European telecommunications operator.

The Company is also pleased to announce that, following agreement with the Inland Revenue, it will shortly receive a Research & Development Tax Credit of £664,000 in relation to the year ended 31 December 2003.

Interim results for the period ended 30th June 2004 will be released on Wednesday 8th September.