RNS Number:6276P
SMF Technologies PLC
10 September 2003


The Board of SMF Technologies plc ("the Company") announce the Placing of
20,500,000 new ordinary shares of Euro0.01 each ("Placing Shares") at Euro0.01 to
raise Euro205,000.  This Placing has been effected for the Company to provide it
with additional working capital so that it can more easily find opportunities
for acquisition so as to ensure the continuity of the Company.

The Board is considering a further placing to increase the cash available to the
Company and to increase its attraction as a shell for the acquisition of trading
businesses.

The Placing is subject to admission to AIM, which is expected to take place on
19 September 2003.

Following the Placing, the following have interests in excess of 3% in the
issued share capital of the Company.

Name                                       Number                        %

Savoy Asset Management Limited           5,200,000                    19.0%
Richard Armstrong                        3,500,000                    12.8%
Peter Redmond                            1,400,000                     5.1%
Foliacura Limited                        1,400,000                     5.1%
R de Mendonca                            1,000,000                     3.7%


The Board of the Company also announce the following changes to the Board of
Directors.  Mr Richard Armstrong, Mr Peter Redmond and Mr Andrew Clarke have
been appointed as Directors of the Company with immediate effect.  Mr William
Henebry, Mr Jim O'Donovan and Mr Martin O'Donoghue have today tendered their
resignation as Directors.  Those of Mr Henebry and Mr O'Donoghue will take
effect upon the admission to AIM of the Placing Shares and that of Mr O'Donovan
is with immediate effect.

Mr Richard Armstrong has been appointed Chairman of the Board.

Mr Richard James Armstrong (aged 55) is or has during the previous five years
been a Director of the following companies:


Current Directorships                            Previous Directorships
Future Internet Technologies PLC                 Briar Abbey Services Limited
Holroyd Consultants Limited                      World Sport Group PLC
Merchant House Group plc
Mobile Future PLC
Zoa Corporation PLC


Mr Peter Redmond (aged 54) is or has during the previous five years been a
Director of the following companies:


Current Directorships                            Previous Directorships
BWA Group PLC                                    Catalyst Corporate Consultants Limited
Future Internet Technologies PLC                 Falcon Park Limited
Merchant Capital PLC
Merchant House Group plc
Stratus Holding PLC



Stratus Holding PLC is currently the subject of a company voluntary arrangement.


Mr Andrew Paul Clarke (aged 55) is or has during the previous five years been a
Director of the following companies:

Current Directorships                            Previous Directorships
Adenbell Limited                                 Capita BC Registrars Limited
Alvergold Limited                                Corinberg Limited
Bastow Charleton Nominees Limited                Creative Financial Staffing Limited
Bramscombe Limited                               Garvanbrook Limited
Creative Financial Staffing (Ireland) Limited    Garwood Investments Limited
Dalevine Limited                                 Gertonabbey Limited
Fenbrook Holdings Limited                        Lehmex International Limited
Fenbrook Nominees Limited                        Stonecraig Limited
Gillmanton Limited                               Versonwood Limited
Gorteen Meats Limited
Grattenlane Limited
Horwath Bastow Charleton Consultants Limited
ISH Sales & Distribution Limited
I.D. Technology Limited
Radora Contracting Limited
Radora Developments Limited
The Factory Limited
The Institute of European Affairs
Tivergreen Limited

Mr Clarke is a partner of Horwath Bastow Charleton, Chartered Accountants.

There is no further information to be disclosed pursuant to paragraph (f) of
Schedule 2 of the AIM Rules.

The Board, other than Mr Peter Redmond and Mr Richard Armstrong, who consulted
with the Company's nominated advisor, considers that the participation of Mr
Peter Redmond and Mr Richard Armstrong in the Placing is fair and reasonable
insofar as the shareholders are concerned.

The Registered Office of the Company will be changed to 40 Lower Baggot Street,
Dublin 2 upon the admission to AIM of the Placing Shares.



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