RNS Number:2499R
CybIT Holdings PLC
01 April 2008


                               CYBIT HOLDINGS PLC

                                  ACQUISITION


Cybit Holdings Plc, ("Cybit") one of Europe's leading online Telematics service
providers, today announces the acquisition of Truck24 AG, a German telematics
operator in the Logistics sector for a consideration of Euro0.75 million, together
with repayment of debt of Euro3.25 million.

Truck24 is based near Munich and is one of the leading Telematics Service
Providers to the German and German speaking HGV and logistics sectors. The
company has approximately 175 customers representing 3,000 vehicles installed
across fleets based in Germany, Austria and Switzerland. The solution that
Truck24 provides will strengthen Cybit's position in the logistics and
distribution market in that it addresses core tracking, order management,
navigation and operational performance needs of this sector. On completion of
the acquisition all 19 staff will transfer with the business.

The consideration and debt will be satisfied by the payment of a cash payment of
Euro1.8m million, the issue of 3,580,000 new shares in Cybit and the issue of
797,032 Warrants over Cybit shares at a strike price of 49 pence.

Consequently, application has been made to the London Stock Exchange for the new
ordinary shares to be admitted to AIM and it is expected that admission will
take place on 1st April 2008. The vendors have agreed not to sell these shares
for a period of 6 months from admission. The new ordinary shares will rank pari
passu with the existing shares of the Company. Following the allotment, the
total issued share capital of the Company has increased to 27,451,768 ordinary
shares.

This figure of 27,451,768 ordinary shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their interest in,
the share capital of the Company under the FSA's Disclosure and Transparency
Rules.

For the last audited period ending December 31st 2006 Truck24 achieved revenue
of Euro4.23 million, gross profit of Euro1.84m, EBITDA of Euro460k and EBIT of Euro286k. Net
assets immediately following acquisition were approximately Euro1m and the business
has carry forward losses in excess of Euro5.5m

The acquisition of Truck24 will add circa 3,300 units and 200 customers to the
existing Cybit installed base and will create a European business with circa
45,000 vehicles under management across 1,700 customers, thereby further
cementing Cybit's position as one of Europe's leading Telematics Service
Providers. The acquisition will also accelerate growth in a strategic market
already identified by Cybit as offering significant growth opportunities for the
Group. In addition, Truck24 have established resellers in Switzerland and
Austria to increase market coverage.

Cybit will also benefit from economies of scale achieved by the combined
business within the German market. As a result of the acquisition, Cybit will
consolidate its existing German operations into the Truck24 infrastructure. The
current Truck24 CEO intends to transfer with the business and will strengthen
the International management team.

From a product and market perspective, Truck24 has specific expertise in the
logistics sector which will both add value to the expanded Group and accelerate
Cybit's ability to deliver key functionality such as digital tachograph and
CANBUS integration.

Richard Horsman, Chief Executive of Cybit commented,

" This is an important acquisition for Cybit, that significantly extends our
presence in Germany and other German speaking markets. Truck24 is an established
business with a recognized brand that will fit well with our existing
operations. The market is very attractive as it has the largest vehicle
population in Europe with over 50 million vehicles in operation.

" Telematics awareness amongst HGV operators is high due the implementation of a
toll collection system on German motorways in January 2005. This initiative
involved the installation of approximately 450,000 telematics based on-board
units on trucks in order to automate the collection of toll charges.

" We are committed to growing the scale of Cybit through both acquisitions and
organic growth. The market remains extremely fragmented with no clear leader and
we are focused on creating a group with scale and a broad base of operations
across key strategic markets. This is now our third sizeable acquisition in
little over a year. We have a successful track record of delivering shareholder
value through identification of suitable targets and quickly integrating them
into the Group. Cybit has now reached a level of critical mass where the
consolidation of similar businesses can make a significant contribution to both
top line and bottom line growth."

                                     -ends-

Date: 1st April 2008
For further information please contact:

Cybit Holdings Plc                   City Profile          Cenkos Securities plc
Richard Horsman, Chief Executive     Simon Courtenay       Stephen Keys
Kevin Lawrence, Finance Director     William Atwell        Tel: 020-7397-8926
Tel: 01480-389100                    Tel: 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 1,700 business to business clients use our
fleet and asset management solutions to manage in the region of 45,000 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 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

END
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