RNS Number:6095U
Earthport PLC
26 January 2004


FOR IMMEDIATE RELEASE 26 January 2004

earthport plc ("earthport" or the "Company")

PLACING AND SUBSCRIPTION COMPLETES AND CAPS
FUNDRAISING OF #3 MILLION

In accordance with the statement in the recent Report and Accounts that the
Company is undertaking a final fundraising  to be completed by the end of
January 2004, the Board of earthport announces that it has completed
arrangements to  issue a total of 120,705,000 new Ordinary shares, including the
12,380,000 announced on 16 January 2004, of 2.5p each  at a price of 2.5p per
share by way of a placing for cash, raising #3,017,625 (before expenses) and has
agreed to issue  87,714,285 options at rising prices, exercisable between
January and October 2004, to raise a further #2,900,000 for  the Company (before
expenses) if all the options are exercised.  These comprise options granted to
Epsilon Management  Inc and Tspeak UK Limited and a private investor.

The Company has received subscriptions for 120,705,000 new Ordinary shares
directly from institutions and private  investors.

The new Ordinary shares will represent approximately 22.8% of the enlarged 
issued share capital of earthport.

The proceeds of the issue will be used to provide additional working capital for 
acquisitions, expansion and development of the Group.

Gelande Holdings Overseas Undertakings Limited has taken up its full allotment 
of warrants for the year to 31 December 2003 at 2.5p being 8,146,720 new 
Ordinary shares.

In addition the Company has issued 3,049,640 new Ordinary shares in settlement
of miscellaneous payments including  staff and debt conversion and 1,537,933 new
Ordinary shares in settlement of commissions and interest payments.

The new Ordinary shares rank pari passu in all respects with the existing
Ordinary shares in issue.  Application is  being made for the new Ordinary
shares to be admitted to trading on the Alternative Investment Market of the
London  Stock Exchange and dealings are expected to commence on 29 January 2004.

Note: Following the above issues of new Ordinary shares, there will be a total
of 529,709,387 ordinary shares in issue  as at 29 January 2004.


For further information, please contact:

earthport plc
Rob Cunningham                              Tel: +44 (0) 20 7907 1100
info@earthport.com                              www.earthport.com

Media enquiries:
Bankside Consultants
Ariane Vacher / Julian Bosdet              Tel: +44 (0) 20 7444 4140
Ariane.vacher@bankside.com              www.bankside.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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