CYH Cybit Hldgs

RNS Number:5133D
CybIT Holdings PLC
30 September 2004


30 September 2004

                          CYBIT HOLDINGS PLC ("CYBIT")

                       CYBIT ANNOUNCES 3 YEAR PARTNERSHIP
                          WITH NORWICH UNION INSURANCE

Cybit Holdings PLC is pleased to announce a three year strategic partnership
agreement with the UK's largest insurance company, Norwich Union Insurance
("Norwich Union"). Together they will launch the industry's only
telematics-enabled fleet insurance product, which will offer businesses fixed
price insurance cover over two or three years and a premium rebate when key
performance indicators are achieved.

Under the partnership, Cybit will provide Norwich Union with core telematics
technology to support 'Fleet Telematics' - the industry's only
telematics-enabled fleet insurance product. Norwich Union, the largest fleet
insurer in the UK, will make the new Fleet Telematics offering available to new
and existing Norwich Union customers through their extensive network of
intermediaries.

Cybit's recently launched modular Fleetstar Online (FSOL) telematics technology
provides Norwich Union's fleet customers with access to industry leading
technology that was previously available only to major enterprises.
Organisations, such as Norwich Union, are now able to benefit from Cybit's next
generation telematics platform enabling the easy integration of Cybit telematics
technology with their own applications, bringing solutions to market quickly.

The partnership builds on the success of a series of collaborative risk
management initiatives between the two companies over the last three years, and
more recently a 12-month pilot project.

Richard Horsman, Chief Executive of Cybit, said:

"Cybit has quickly established itself as the market leader for internet-based
telematics-enabled fleet management solutions. The signing of a three year
strategic partnership agreement with the UK's leading fleet insurance provider
is a major achievement, establishing Cybit's firm foothold in this exciting new
market.

Cybit is focused on developing cutting-edge telematics solutions. Our next
generation telematics platform and recently launched modular FSOL solution
provides organisations, such as Norwich Union, with a flexible low entry level
product that is easy to integrate into existing IT infrastructure. We are very
excited about the value this partnership will create for Cybit's shareholders."

Robert Ledger, Head of Telematics at Norwich Union, said:

"Norwich Union is delighted to announce its agreement with Cybit as part of our
growing telematics capability. As the largest fleet insurer in the UK, it's a
natural step for us to extend our product range in this way. The launch of the
'Fleet Telematics' product affords us the opportunity to utilise and supplement
the learning we have already gained from our innovative "Pay As You Drive"TM
insurance research programme."

For more information please contact:

Bell Pottinger Corporate & Financial
David Rydell/Katie Ratner                       Tel: 020 7861 3232



About Cybit

Cybit is a leading Internet-based Telematics Service Provider (TSP) and supplier
of fleet and asset management solutions to the business-to-business sector.
Cybit's solutions portfolio includes vehicle tracking and management, lone
worker support and car pool management. Hundreds of companies across a wide
range of industries already use Cybit's online solutions to improve the
management and control of their fixed and mobile assets. Additional information
is available at www.cybit.co.uk

About Norwich Union:

Norwich Union is the UK's largest insurer with a market share of around 14 per
cent. With a focus on insurance for individuals and small businesses, Norwich
Union insures one in five households, one in seven motor vehicles and more than
800,000 businesses. Norwich Union products are available through a variety of
distribution channels including brokers, corporate partners such as banks and
building societies and Norwich Union Direct. Additional information is available
at www.norwichunion.com

For media enquiries call 08703 66 68 68




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

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