30 July 2002

Plasmon Plc ("Plasmon" or the "Company") 5% Cash Placing

Plasmon, the Cambridge based data storage solutions company, announces that it has today entered into arrangements, conditional inter alia on admission, to place 2,553,247 new ordinary shares of 5p each ("new Ordinary Shares") at 69 pence per share (the "Placing"), to raise approximately £1.7 million net of expenses.

The proceeds of the Placing will provide the Company with working capital and in particular will assist the funding of capital expenditure required for Plasmon's Ultra Density Optical development programme, which is scheduled for launch in August 2003.

It is expected that the new Ordinary Shares will be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's markets for listed securities on 5 August 2002. On issue, the new Ordinary Shares will rank pari passu with the existing ordinary shares.

Nigel Street, Chief Executive of Plasmon, said:

"We are delighted with the progress of our UDO programme, this top-up funding, which was several times over subscribed, will ensure that we continue to meet our development targets. Our UDO technology continues to gain acceptance as the future standard for professional optical storage which is reflected in our discussions with major potential OEM customers."

Enquiries:

Plasmon Plc

01763 261 466

Nigel Street, Chief Executive

Tim Arthur, Finance Director

Investec Investment Banking

020 7597 5970

Patrick Robb

Stephen Anstee

Citigate Dewe Rogerson

020 7638 9571

Charles Vivian

Martin Jackson