RNS Number:1485N
Imagestate PLC
03 July 2003


PRESS RELEASE

03 July 2003


ImageState PLC: Resignation and current trading


On 17 June 2003, ImageState PLC ('ImageState' or the 'Company'), the digital
image rights and content group, announced that the Company was still loss making
and further cost reduction was required together with revenue growth to achieve
breakeven.

The Company also announced that it had agreed the terms for additional funding
of up to #1,000,000 to be provided by OVP2 Limited (a subsidiary of Pacific
Investments PLC, a company ultimately controlled by Sir John Beckwith, a
Director of the Company) which holds approximately 29 per cent. of the Company.

As announced on 17 June 2003, the Company will continue to seek to reduce costs
as and where possible and also intends to strengthen the senior executive
management team. Consistent with this intention, in June 2003 the Company
appointed Michele Vitucci, as Chief Operating Officer of the group under a
consultancy agreement with the Company.

Michele has ten years of experience of the stock photography industry worldwide
having previously worked for Tony Stone Images and subsequently Getty Images
where he was MD for Getty Germany and then MD for Getty Europe.

Michael Cornish informed the Board of Directors yesterday of his resignation
from the Company as Executive Chairman.  Michael Cornish joined the Company in
August 2000 and over the last 14 months has been responsible for the
implementation and re-engineering of the Company's business model to a digital
web based customer offering.

The Board is pleased to announce that Chris Adamson will be stepping up to the
position of non-executive Chairman of the Company with immediate effect.


Enquiries:

Chris Adamson
Chairman
ImageState PLC                                    020 7734 7344



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