FOR IMMEDIATE RELEASE 16 April 2004

PLASMON PLC OFFER TO ACQUIRE RAIDTEC FOR £3.4m AND PLACING TO RAISE £3.3 MILLION

Plasmon, the leader in professional data archival solutions, today announced an offer to acquire Raidtec Holdings Limited of Cork, Ireland ("Raidtec"). Raidtec develops and manufactures Network Attached Storage (NAS) and RAID (hard disk) based storage systems and markets its solutions and components worldwide.

Under the terms of the offer for Raidtec, Plasmon has offered to acquire the whole of the share capital of Raidtec for a consideration of approximately £1.5m. Plasmon has also agreed to acquire (conditional on the successful conclusion of the Offer) certain loans made to Raidtec by its shareholders for approximately £1.9m. The consideration for the issued share capital of Raidtec and the loans from the shareholders will be satisfied by the issue of Plasmon ordinary shares of 5p each ("New Ordinary Shares") valued at 208.5p each (based on the closing mid market price of a Plasmon Ordinary Share on 15 April 2004 as shown by the Daily Official List of the London Stock Exchange) and the payment (in respect of certain of the loans) of US$150,000. The number of New Ordinary Shares expected to be issued as consideration is 1,584,721.

Certain of the major shareholders of Raidtec holding in aggregate in excess of 80% of Raidtec's share capital have irrevocably undertaken to accept Plasmon's offer. Plasmon will use the provisions of the Irish Companies Act to compulsorily acquire the balance of Raidtec's share capital to the extent Raidtec's other shareholders do not accept the offer.

Over the past year Plasmon has been working with Raidtec to develop a network attached UDO library with an integrated server and NAS operating system sourced from Raidtec. "The acquisition of Raidtec is the logical next step in our relationship and will allow us to fully utilise Raidtec's twelve years of experience and core technology in NAS operating systems and RAID controllers" said Plasmon Chief Executive, Nigel Street. "Plasmon has already shipped some 200 NAS attached libraries and we plan to commence shipments of the new integrated UDO libraries to our major medical imaging customers in late 2004. We will also continue to sell Raidtec's existing products that are complementary to our UDO solutions and this should be a profitable segment of Plasmon's business by the year ending 31 March 2006".

In the year to 3 October 2003 Raidtec had sales of US$6.2m (£3.5m) and made a loss of US$2.0m (£1.1m) before exceptional costs of US$2.8m (£1.6m). Raidtec had a deficit on shareholder funds of $0.7m (£0.4m) at 3 October 2003, after deducting loans from its shareholders of US$0.7m (£0.4m).

In order to fund the working capital requirements and finance expansion of Raidtec, Plasmon has today raised approximately £3.3 million by way of a cash placing of 1,600,000 Plasmon Ordinary Shares of 5p each conditional on admission at 207p per new Ordinary Share.

Application has been made to the UK Listing Authority and to the London Stock Exchange for the admission of 1,600,000 new Ordinary Shares ("Placing Shares"), in relation to the cash placing, to the Official List and to trading on the London Stock Exchange's market for listed securities. Admission of these shares is expected on 20 April 2004. Application will also be made to the UK Listing Authority and to the London Stock Exchange for the admission of 1,584,721 new Ordinary Shares, in relation to the acquisition of the whole share capital of, and loans made to, Raidtec, to the Official List and to trading on the London Stock Exchange's market for listed securities. It is expected that admission of these shares will take place on 21 April 2004. The New Ordinary Shares will be issued and credited as fully paid and will, on admission, rank pari passu with the existing ordinary share capital of Plasmon.

For further information:

Plasmon plc

Nigel Street, Chief Executive

Timothy Arthur, Finance Director

01763 261466

Investec Investment Banking

James Grace

020 7597 5160

Citigate Dewe Rogerson

Martin Jackson

020 7638 9571

About Plasmon

Plasmon is the world leader in professional archival solutions, providing a comprehensive line of optical libraries, drives and media. Customers include corporations, institutions and government agencies worldwide and are backed by a global service and support network. Founded in 1985, Plasmon is listed on the London Stock Exchange, (LSE: PLM), and had fiscal year 2003 sales revenues of £60m. Worldwide headquarters are in Cambridge, England with US Sales and Manufacturing based in Colorado. Plasmon has regional sales offices throughout Europe and North America. For more information, visit www.plasmon.com or www.plasmon.co.uk.

Plasmon and UDO are registered trademarks of Plasmon Plc. Copyright 2003

These written materials are not for distribution in the United States, Canada, Australia, Japan or the Republic of Ireland. The information contained herein does not constitute an offer of securities for sale in the United States, Canada, Australia, Japan or the Republic of Ireland. Securities may not be offered or sold in the United States absent registration under the US Securities Act or an exemption therefrom. Plasmon has not and does not intend to register any of its securities under US securities law. Accordingly, the Placing Shares may not be offered or sold in the United States unless they are registered or exempt from registration under applicable law or in transactions that are exempt from registration. The Placing Shares will not be offered or sold to the public in the United States.

Investec is acting for Plasmon in connection with the Placing and no one else, and will not be responsible to anyone other than Plasmon for providing the protections offered to clients of Investec nor for providing advice in relation to the Placing.