RNS Number:2360J
Advanced Technology (UK) PLC
26 March 2003


         Advanced Technology (UK) Plc ("ATL", the "Company" or "Group")


Placing to raise #895,837 in Loan Notes and New Ordinary Shares at 15p per share


Advanced Technology (UK) Plc has raised #895,837 from institutional and other
investors through the placing of #526,475 worth of 6 per cent. loan notes ("Loan
Notes") and 2,462,416 new ordinary shares of 5p each ("New Ordinary Shares") at
a price of 15 pence per New Ordinary Share (together, the "Placing"). The
Placing has been conducted by J M Finn & Co and Ruegg & Co. The #851,500 (net of
estimated expenses) so raised provides the Group with the additional funds it
requires for new production tooling costs (approximately #200,000) with the
remainder required for working capital.


The Placing, together with the fund-raising of #0.9 million (net of expenses)
completed in the final quarter of 2002, secures the Company's prospects in the
short term, though the Group's longer term prospects remain significantly
dependent on delivery of a major contract using ATL's two-way fixed network
systems. The Group continues to support its two-way fixed network projects in
Ghana and South East Asia with a view to securing larger-scale contractual
commitments.


The order backlog for the Group's one-way mobile products for the United States
water metering market, caused by the Federal Communications Commission's actions
last year, has now been cleared. The Company has recently made its first sales
of a new one-way metering product designed for the United States electricity
market. A similar product for the United States gas market is still in
development.


The Loan Notes carry interest at the rate of 6 per cent. per annum, payable
annually in arrears on 31 December. They are convertible into ordinary shares at
the option of the Loan Note holder at a price of 15 pence per new ordinary share
at any time prior to 31 December 2005, whereupon any which have not been
converted will fall to be redeemed in full.


The Placing is conditional on admission of the New Ordinary Shares to AIM.
Application has been made for admission of the New Ordinary Shares to trading on
AIM, which is expected to take place tomorrow. The New Ordinary Shares will rank
pari passu with the existing issued ordinary share capital of the Company. No
application has been or will be made for the Loan Notes to be admitted to AIM or
any other investment exchange or securities market.


Any new ordinary shares arising on the exercise of Loan Notes in the future will
be allotted pursuant to authorities granted at the Company's AGM on 17 December
2002. Likewise, the New Ordinary Shares have been allotted pursuant to the same
authorities.


Under the terms of the Company's engagement with J M Finn for the purposes of
the Placing, J M Finn and Ruegg & Co are entitled, inter alia, to be granted
warrants to subscribe for up to a total of 1,000,000 shares in ATL at 15p per
ordinary share, exercisable in whole or in part at any time up to the fifth
anniversary of the Placing.



The following directors of ATL have subscribed under the terms of the Placing:

                       Shares     % of issued       Resulting Shareholding as  # nominal of
                subscribed in  ordinary share      holding of a percentage of    Loan Notes
                the Placing           capital ordinary shares issued ordinary  subscribed
                               subscribed (as                   share capital
                              enlarged by the                 (as enlarged by
                                   Placing)                    the Placing)

John Howell          33,500            0.12          98,500            0.35             -
David                33,500            0.12          33,500            0.12             -
Collinson
Gregory             333,500            1.17         586,147            2.06             -
Morgan
Clare                     -               -          70,000            0.25     19,987.50
Spottiswoode
Mike Gough           13,500            0.05          15,500            0.05             -


The directors expect to be in a position to make the preliminary announcement of
final results for the year ended 31 December 2002 during the first week of June
2003.



ENQUIRIES:
Advanced Technology (UK) plc                    Tel: 01202 592 000



John Howell, Chief Executive

David Collinson, Finance Director


College Hill
Matthew Smallwood                               Tel: 020 7457 2020








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

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