Intention to Float on AIM

Micap plc (“Micap” or “the Company”), announces that today (24/07/03) it has published a prospectus in connection with its application for ordinary shares and convertible shares to be admitted to trading on AIM. Micap is raising approximately £5.3 million, through an institutional placing at 55p a share, which values the Company at approximately £15.8 million. Dealings in the shares are expected to commence on August 7, 2003., Copies of the prospectus are available, free of charge, from the Company at No.1 The Parks, Lodge Lane, Newton-Le-Willows, WA12 0JQ and from Bell Lawrie White, a division of Brewin Dolphin Securities Ltd, 48 St Vincent Street, Glasgow G2 5TS for at least one month from 24/07/03.

Further information is available from: Bell Lowrie Wright (0141 221 7733) Elizabeth Kennedy/Ken Fleming and/or through Gavin Anderson & Company (0207 554 1400) Neil Bennett/Liz Morley