FFastFill plc - 8th May, 2006

Trading Update, Contract Wins
& Placing of 46,669,000 New Ordinary Shares

Introduction

FFastFill today announces a trading update for the year ended 31 March 2006, new contract wins, the launch of three new service offerings and a conditional placing of 46,669,000 new ordinary shares of 1 pence each ("Ordinary Shares") at a price of 3 pence per share to raise approximately £1.4 million ("Placing"). Funds raised via the Placing will be used to strengthen the Company's balance sheet and support its working capital requirements.

As a result of FFastFill's continued investment in its technology and service offerings, as outlined in the Company's interim statement announced on 17 November 2005, FFastFill has recently launched new application service offerings and won new service contracts with major global investment banks. Revenues from continuing operations in the year ended 31 March 2006 grew by between 17-20% compared to the previous year, whilst application services revenues grew by over 100%. The investment in technology and service offerings combined with some delays in signing new customers has had a short-term negative impact on the Company's financial performance in the year ended 31 March 2006, as a result of which the Directors believe EBITDA will be between 10-15% lower than in the year ended 31 March 2005. Preliminary results for the year ended 31 March 2006 are expected to be announced later this month.

FFastFill continues to progress and, in the Directors' opinion, is well positioned to expand the income it receives from its base of existing customers as well as to win new customers and thereby to achieve EBITDA profitability. The Directors believe that the funds raised via the Placing will be sufficient to achieve this goal.

In order to obtain the required authorities to effect the Placing, the Company will be convening an extraordinary general meeting for 10.00 a.m. on 31 May 2006 (the "EGM"). A circular convening this meeting will be sent to FFastFill shareholders today. KBC Peel Hunt is acting as nominated adviser and broker in relation to the Placing.

Indicative results for year ended 31 March 2006

In the year ended 31 March 2006, we achieved overall year on year revenue growth of between 17-20% on our continuing operations with application services revenues growing year on year by more than 100%. During the period, we achieved new customer wins for our application services in addition to the major TT application service contract wins mentioned below. There was delay in some contract signings, most of which have now been achieved, as well as some delay in user number growth under existing contracts. The CME FX on Reuters service growth is expected to improve following the recent launch of an enhanced version of the service.

These factors, along with our continued commitment to expand our service offerings, have had an adverse effect on the short term financial performance with EBITDA for the year ended 31 March 2006 estimated to be 10-15% lower than the previous year. The board is convinced that this investment will benefit shareholders in the medium and long term. The Company now has a strong order book of approximately £5 million to support the current year's performance. The Directors believe that this order book together with the substantial completion of the Company's investment programme and the implementation of various cost reduction measures underpin the Company's objective to achieve profitability.

As at 31 March 2006, FFastFill had approximately £1.2m in cash.

Preliminary results for the year ended 31 March 2006 are expected to be announced later this month.

New contracts

The investment in the new Trading Technologies International, Inc. ("TT") service offering, which was launched in Chicago in October 2005, has been well received. We now have six companies which have taken the TT service, including two global investment banks. Several of these companies chose the TT service after comparing its performance metrics with existing installations and finding that the TT service represented a better solution.

New service offerings

We are announcing three new service offerings following a period of significant investment:

European based TT service: Following on from the success of our US TT service, we will be launching a London-based service which will be available from July 2006. This will allow us to support the European operations of existing US TT service customers with a European-based offering and will open up new opportunities for London-based trading firms.

Multi-asset class trading service: We have now completed the development of our multi-asset class trading system. This will allow firms who predominantly trade listed derivatives to also trade foreign exchange, equities, contracts for difference and bonds via their FFastFill execution screen. This means that customers only need one execution platform and, more importantly, will have their order flow managed by a single order management system.

New generation 'Global Order Book': We are pleased to announce the availability of the first phase of a new generation of global order book which the Directors believe will substantially improve order and risk management for participants in the derivatives industry. New functionality will be released during 2006/7 which will include the integration of traditional clearing functionality. This service offering has been made possible as a result of the development work undertaken in conjunction with a major futures exchange and the availability of our Viewpoint functionality, which we acquired along with Future Dynamics. In the Board's opinion, this application represents a significant step forward for risk and order management within the industry.

Reasons for and details of the Placing

FFastFill today announces that it has conditionally placed 46,669,000 new Ordinary Shares ("Placing Shares") at a price of 3 pence per share ("Placing Price") to raise approximately £1.4 million. The Placing Shares are equivalent to approximately 19.2 per cent of the Company's existing issued share capital. The Directors will in aggregate be subscribing 5,249,000 Placing Shares. Funds raised via the Placing will be used to strengthen the Company's balance sheet and support its working capital requirements.

Pursuant to the terms of the Placing Agreement, KBC Peel Hunt, as agent for FFastFill, has agreed conditionally to use reasonable endeavours to place the Placing Shares at the Placing Price with institutional and other investors procured by it.

The Placing is being made on a non pre-emptive basis as the time and costs associated with a pre-emptive offer resulting from the introduction of the EU Prospectus Rules (which came into force on 1 July 2005) are considered by the Directors to be excessive. The making of a pre-emptive offer would require the production of a prospectus that would have to comply with the Prospectus Rules and be pre-vetted and approved by the FSA. The Directors therefore believe that the Placing is the most timely and cost-effective way of addressing the Company's financing requirements.

The Placing Price represents a discount of approximately 23 per cent to the closing mid-market price of 3.88 pence per Ordinary Share on 5 May 2006 being the last dealing day prior to this announcement.

The issue of the Placing Shares is conditional, inter alia, upon:

i) The passing of the Resolution (as defined below) at the EGM;
ii) Admission to AIM of the Placing Shares becoming effective;
iii) Announcement of the Company's results for the year ended 31 March 2006;
iv) The receipt of written confirmation on a provisional basis from HM Revenue & Customs that the Placing Shares are eligible for Enterprise Investment Scheme and Venture Capital Trust relief; and
v) The Placing Agreement becoming unconditional in all other respects.

Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. The Placing Shares are expected to be admitted to AIM and to commence trading at 08:00 a.m. on 1 June 2006.

Interests of Directors following the Placing

Following the Placing, the Directors' interests in the Company will be as follows:

Extraordinary General Meeting

In order that the Company is able to implement the Placing, shareholder approval will be sought to authorise the Board to allot the Placing Shares in connection with the Placing and to do so on a non pre-emptive basis (the "Resolution"). Accordingly, a circular will be sent today to the Company's shareholders convening an extraordinary general meeting for 10.00 a.m. on 31 May 2006 at the offices of KBC Peel Hunt, 111 Old Broad Street, London EC2N 1PH to propose the Resolution.

Copies of the notice requisitioning the EGM will be available for collection from the offices of KBC Peel Hunt, 111 Old Broad Street, London EC2N 1PH for a period of one month from the date of this announcement.

Outlook

FFastFill now has a strong order book of approximately £5 million. The Directors believe that this order book together with the substantial completion of the Company's investment programme and the implementation of various cost reduction measures position the Company well to achieve EBITDA profitability. The Directors believe that the funds raised via the Placing will be sufficient to achieve this goal.

Enquiries:

FFastFill PLC 020 7665 8900 Keith Todd (Executive Chairman & CEO)