STT Straight

RNS Number:4287O
StartIT.com PLC
10 December 2001


startIT.com plc ("STT")


                    Further acquisition of shares in iAsia


On 23rd October, 2001 STT announced the conditional disposal (the "CFN UK
Transaction") of all its interests in CFN (UK) Limited ("CFN UK") to iAsia
Technology Limited ("iAsia"), for a consideration of HK$2,453,000 in the form
of 3,504,286 new iAsia shares. As a result of the CFN UK Transaction and a
shareholding restructuring in CFN UK which was completed on 9th November,
2001, there would be a total gross profit of approximately GBP24,000 to STT,
before legal and other administration costs.

The Directors of STT are pleased to announce that the CFN UK Transaction has
been completed on 5th December, 2001.

CFN UK plans to offer value added services, specializing in Asian securities,
to brokers and financial institutions in the UK. It is regulated by the
Financial Services Authority Ltd. iAsia provides online trading services to
brokers and financial institutions in the Far East, and is listed on the
Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange.

STT is now holding a total of 5,256,429 shares in iAsia, representing
approximately 0.93% of the current share capital of iAsia. Half of these
shares are subject to a lock-up period of 6 months from the date of
acquisition, and the other half has a lock-up period of 1 year. STT plans to
keep these iAsia shares as long term investments and currently has no
intention to dispose of any of these iAsia shares upon expiry of the lock-up
periods.

For further information :

Phill Brown, Chief Executive, startIT.com plc

Tel: 01274 623 478


Peter Addison, Director, Corporate Finance, Insinger English Trust

Tel: 020 7377 6161


Shane Dolan, Biddicks

Tel: 020 7448 1000

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