[02.12.2004]

£4.15 million acquisition of the Timeweave Holdings Group of Companies

Alphameric plc, the fully listed provider of end to end solutions for the Leisure and Hospitality sectors, has acquired the entire issued share capital of Timeweave Holdings Limited ('Timeweave').

Timeweave is the holding company of a Group that specialises in the provision of the Microsoft™ Navision™ suite of Enterprise Solutions into a range of food and beverage organisations within the United Kingdom. Timeweave was awarded Microsoft Gold Partner status in July 2004.

The total consideration being paid is £4,150,000 comprising £3,000,000 in cash and 1,554,054 Alphameric plc Ordinary Shares. The Alphameric plc shares comprised within the consideration are to be held by the vendors of Timeweave for a minimum period of twelve months from completion.

The latest audited accounts for Timeweave Holdings Limited cover the period from 22nd December 2003 to 30th June 2004 and show revenues of £952,000, a profit before taxation of £122,000 and net assets of £1,095,000.

The acquisition of Timeweave will enable Alphameric's Hospitality Division to widen the scope of its offering into the food and beverage markets and add greater depth to its Caterwide™ Enterprise Solution that it currently provides to many of the United Kingdom's most successful restaurant, pub and brewing organisations.

Alan Morcombe, Group Chief Executive of Alphameric plc, said: 'Since publication of its last audited accounts Timeweave has grown organically and through acquisition and will now become part of a strong business unit focused on the UK hospitality market. Its software solutions integrate well with our own and this transaction will help us continue to grow our presence in this exciting market. We gain an excellent staff and customer base which I believe will add great value to the Alphameric Group.'