NTWX Nettworx

RNS Number:2680S
Nettworx PLC
14 April 2008





For immediate release

14 April 2008

                         Nettworx Plc (the "Company")

           Part Repayment of Nettworx Plc Convertible Loan to Sim4Travel

Following the recent announcement by the Board of Sim4Travel whereby Truphone
acquires the assets of Sim4Travel Holding  Plc ("Sim4Travel"), the Board of
Nettworx Plc today are pleased to announce the repayment of �500,000 of the 5% 
Convertible Unsecured Loan Note 2008 issued by Sim4Travel. Nettworx Plc now
holds approximately �8.7m in cash available  for future acquisitions or
investments, the equivalent of 7.8 pence per share.

The balance of �265,000 of the Loan Note, together with all accrued interest at
the rate of 2% over base per annum  shall be paid by Sim4Travel on 12 April 2013
or such earlier date in accordance with the Loan Note Instrument.

In the event that Sim4Travel raises additional funding by means of an issue of
equity securities of Sim4Travel to  investors at a rate of issue or conversion
lower than one Ordinary Share for every 0.6p, the Conversion Rights, the  rights
attaching to the warrants to subscribe for 30,000,000 Ordinary Shares in
Sim4Travel issued by Sim4Travel to  Nettworx Plc on 13 April 2007 shall be
subject to review and the Conversion Rate and the Exercise Price of the Warrants
will be reduced to the issue price or rate of conversion that is lower than the
existing Conversion Rate or Exercise  Price.
The consultancy agreement between Nettworx Plc and Sim4Travel has also been 
terminated with effect from 8 April 2008.

For further information, please contact:

Nettworx Plc
Jonathan Rowland, Director
Tel +44 (0) 20 7087 7971

Canaccord Adams Limited
Mark Williams, Managing Director
Tel +44 (0) 20 7050 6500








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