PROPOSED DISPOSAL OF THE TREND NETWORK SERVICES BUSINESS

Proposed disposal leaves the way clear to concentrate on Zetex' growth potential as a pure analog semiconductor business.

Proposed change of name to Zetex PLC.

Bob Conway, founder and chief architect of Zetex' technology strategy, to be appointed as Chief Executive.

Summary

Further to the announcement on 19 February 2004, the Board of Telemetrix today announces:

The proposed disposal of the Trend Network Services division ("Network Services") for a gross cash consideration of £22.0 million to Phoenix IT Group Limited. The Network Services Disposal will be subject to Shareholder approval at an EGM, notice of which will be sent to Shareholders shortly.

On 19 February 2004, Telemetrix announced the disposal of the Trend Broadband Test Equipment division ("Test") to Ideal Industries Inc. for a gross cash consideration of £8.5 million.

Together with the disposal of Test, the aggregate proceeds from the Disposals will be £26.1 million (net of expenses).

The Group will then be solely focused on its analog semiconductor company, Zetex, based in Oldham.

A resolution to change the Company's name to Zetex PLC will be proposed at the AGM in April 2004.

Bob Conway, founder and chief architect of Zetex' technology and product strategy, will be appointed as Chief Executive following completion of the Disposals.

The Board believes that focusing the Group's financial and managerial resources on Zetex would:

• provide additional growth capital for Zetex and accelerate the rate at which the Group can exploit Zetex' attractive growth opportunities;
• enhance Zetex' credibility with its high profile customers around the world;
• increase the level of investor interest in the Group by providing investors with direct exposure to a pure play analog semiconductor business; and
• enhance shareholder value.

Proceeds of the Disposals will principally be used to support Zetex' investment programme and to expand and enhance the wafer fabrication, testing and development capabilities upon which Zetex' differentiated product portfolio depends.

Commenting on the Network Services Disposal, Liz Airey, Non-executive Chairman of Telemetrix, said:

"We are pleased to have agreed the sale of Network Services in addition to the previously announced sale of Test. Focusing the Group's financial and managerial resources on Zetex going forward will enhance our ability to exploit Zetex' attractive growth opportunities and generate enhanced shareholder value."

This summary should be read in conjunction with, and subject to, the full text of this announcement. Terms used in this summary have the same meaning as those in the Appendices.

Enquiries:

Close Brothers Corporate Finance Limited
Tel: +44 (0) 20 7655 3100

Mark Wrightson, Co-Chairman
Ross Christie, Assistant Director