At the meeting held on October 26, 2004, the Board of Directors of Logicom Public Limited decided to proceed to a 5-year bond issue of up to £5 million, with an interest rate larger than the basic and an allocation of warrants with the issue of bonds offered to the shareholders on a pro rata basis. The bond issue will contribute to the expansion of the Group’s operation and will improve its capital base.

Details will be announced at a later stage.