CYH Cybit Hldgs

RNS Number:2438M
CybIT Holdings PLC
22 January 2008


    
    CYBIT AWARDED A FURTHER �1.2M CONTRACT FOR PRECISE POSITIONING EQUIPMENT

Cybit Holdings Plc ("Cybit"), the UK's leading online Telematics Service 
Provider (TSP), today announces that it has been awarded a further major
contract extension for its satellite positioning equipment with one of the
world's leading offshore construction services groups. The contract will last
until March 2009.

The deal, valued at approximately �1.2 million, is a further extension to the
Cybit Positioning Solutions Limited supply contract with the Group.

This new contract extension includes a licensing element of Cybit Intellectual
Property, acquired by Cybit through their purchase last February of Thales
Telematics.

Cybit has nearly twenty years experience in the provision of GPS systems and
several decades of experience in precise positioning, predominantly in offshore
oil and gas operations.

Richard Horsman, Chief Executive of Cybit commented;

" We are delighted to announce this valuable extension of our contract which
underpins the successful relationship with this major group. The licensing of
this technology is further evidence of Cybit's ability to deliver increased
profitability to its shareholders."

" The oil and gas sector offers significant potential for our systems. Real time
positioning at high accuracy and availability is vital to all offshore and
onshore oil and gas exploration and production operations. We have the
capability to add real value to our customer's businesses and we are confident
that we will continue to progress in this area."

                                     -ends-

Date: 22 January 2008

For further information please contact:

Cybit Holdings Plc                                    cityPROFILE

Richard Horsman, Chief Executive                      Simon Courtenay

Kevin Lawrence, Finance Director                      William Attwell

01480 389100                                          020-7448-3244


About Cybit:

Cybit, a global force in Telematics operates within three core sectors:
Internet-based vehicle Telematics solutions; Economic Exclusion Zone (EEZ)
Management; and Private Mobile Radio (PMR) based asset tracking and precise
positioning solutions.

In the vehicle Telematics sector, Cybit is one of Europe's leading Telematics
Service Providers (TSPs). More than 1,500 business to business clients use our
fleet and asset management solutions to manage in the region of 40,000 assets.
Solutions include in-vehicle technologies, work flow management and
internet-based monitoring and reporting software. The company also provides
consulting services to advise on legal issues such as duty of care and working
hours.

Their newly-acquired PMR business, Cybit Positioning Solutions, provides
asset-tracking solutions for both maritime and land-based applications including
exploration and mining. Its precise positioning solutions assist in the location
and exploitation of oil, gas and mineral reserves around the globe.


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

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