FUNDRAISING OF GBP1,000,000, CONVERSION OF LOAN NOTES AND
APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board of OFEX is pleased to announce that the Company has today
conditionally placed 4,000,000 Placing Shares with institutions and other
investors at 25p per share to raise GBP1,000,000 (before expenses) to provide
additional working capital for the Company.

Further, conditional on the Placing Shares being admitted to trading on AIM,
GBP610,000 of a loan note currently held by J P Jenkins Limited will be
converted into New Ordinary Shares at 35p per share.

In order to effect the Placing and Loan Conversion it will be necessary to
increase the Directors' general authority to allot shares pursuant to the Act.
The Placing and Loan Conversion are therefore conditional on the passing of
appropriate resolutions at an Extraordinary General Meeting of the Company to
be held on 12 January 2003. 

The Board also announces the appointment of Mr Luke Johnson as Non-Executive
Director, conditional upon the result of the EGM. 

THE PLACING

The Company is proposing to raise GBP1,000,000 by way of a Placing of 4,000,000
New Ordinary Shares at 25p per share, to provide additional working capital for
the Company.   The reason for the requirement for additional working capital at
this stage is primarily to implement a competing market making system within
the OFEX market place.  

The Company announced its intention to move towards a competing market making
system on 23 October 2003, following discussions with J P Jenkins Limited,
Teather and Greenwood and Winterfloods.  Working capital is also required to
assist the further development of the Company's core business, as well as for
strategic marketing of OFEX internationally.

The Placing Shares have been placed by Seymour Pierce Limited, the Company's
broker, with institutional and other investors. 

It is expected that Admission will become effective and dealings in the new
Ordinary Shares will commence on AIM on 13 January 2004.  The New Ordinary
Shares, once issued and allotted, will rank pari passu in all respects with the
existing ordinary shares including for all dividends hereafter declared, paid
or made.

The Placing Shares will represent 18.58% of the enlarged issued share capital
of the Company. 

NON- EXECUTIVE DIRECTOR

It is intended that, conditional on Admission, Luke Johnson, who is subscribing
for 1,354,000 Placing Shares under the Placing, which will represent 6.29% of
the enlarged issued share capital of the Company on Admission, will be
appointed as a Non-Executive Director of the Company.  

Luke Johnson (41) is Chairman and principal owner of Signature Restaurants.
Previously he served as Chairman of PizzaExpress PLC and worked as a
stockbroking analyst at Kleinwort Benson.

Further details on Luke Johnson pursuant to Schedule 2(f) of the AIM Rules,
will be announced in due course.

LOAN CONVERSION

J P Jenkins Limited currently holds a loan, repayable by Kudosoption Limited, a
subsidiary of the Company, of GBP747,227 plus accrued interest at 6% per annum
from 2 April 2003.  This loan is repayable in monthly tranches of GBP10,000
commencing 1 May 2004.  The loan is convertible into Ordinary Shares at the
option of J P Jenkins Limited at 35p per share in the period May 2004 to
December 2006 and at 45p per share in the period January 2006 to December 2007.

The Directors, save for John Jenkins who is a director and major shareholder of
J P Jenkins Limited and therefore a related party under the AIM Rules,
considered that early conversion of part of the loan, whilst resulting in some
dilution for Shareholders, would benefit the Company's cash flow in the longer
term.  Consequently they approached J P Jenkins Limited to request early
conversion and J P Jenkins Limited has indicated that it would like to convert
GBP610,000 of this loan at this time at 35p per share which will result in the
issue to it of 1,742,857 New Ordinary Shares.

John Jenkins will have a beneficial interest in 6,457,857 Ordinary Shares
following the Loan Conversion and Admission which will represent 29.99% of the
enlarged issued share capital of the Company.

Your Directors, with the exception of John Jenkins who is a related party in
connection with the Loan Conversion, consider, having consulted with the
Company's nominated adviser, Seymour Pierce Limited, that the terms of the Loan
Conversion are fair and reasonable insofar as Shareholders are concerned.

Jonathan Jenkins, Joint Managing Director of OFEX stated: "2003 has proved to
be a very significant year for us. The impending move to competing market
makers has been extremely well supported both within the financial community
and the media. The increased spread of institutional shareholders in OFEX is
testament to this. The fundraising now ensures this will be operational as soon
as is possible, and also allows OFEX to further enhance its model with
additional staff and projects as they become available in 2004 and beyond.
Luke's support and subsequent involvement on the OFEX Board, continues the
momentum created by the recent consultancy appointments of Simon Brickles and
Cyril Theret, both formerly of the London Stock Exchange. Such high calibre
additions to the OFEX team can only help drive the market forward and we are
therefore delighted to have them with us as we enter the New Year".

NOTES TO EDITORS

ABOUT OFEX

OFEX plc operates the OFEX market in the United Kingdom.  The OFEX market
provides a share trading platform for the securities of unlisted and unquoted
companies.  OFEX plc is authorised and regulated by the Financial Services
Authority. In its brief history, OFEX has created a market in which over 450
companies have raised over GBP1bn using the broad membership of Member
corporate advisers and broker/dealers.

OFEX Holdings plc successfully floated on the London Stock Exchange's
Alternative Investment Market in late April 2003.

For further information please contact Jonathan Jenkins on 020 7423 0800 or
enquiries@ofex.com



END