Cybit Holdings Plc ("Cybit"), the UK's leading online Telematics Service Provider (TSP), today announces that it has been awarded a further major contract extension for its satellite positioning equipment with one of the world's leading offshore construction services groups. The contract will last until March 2009.

The deal, valued at approximately £1.2 million, is a further extension to the Cybit Positioning Solutions Limited supply contract with the Group.

This new contract extension includes a licensing element of Cybit Intellectual Property, acquired by Cybit through their purchase last February of Thales Telematics.

Cybit has nearly twenty years experience in the provision of GPS systems and several decades of experience in precise positioning, predominantly in offshore oil and gas operations.

Richard Horsman, Chief Executive of Cybit commented;

" We are delighted to announce this valuable extension of our contract which underpins the successful relationship with this major group. The licensing of this technology is further evidence of Cybit's ability to deliver increased profitability to its shareholders."

" The oil and gas sector offers significant potential for our systems. Real time positioning at high accuracy and availability is vital to all offshore and onshore oil and gas exploration and production operations. We have the capability to add real value to our customer's businesses and we are confident that we will continue to progress in this area."

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Date: 22 January 2008

For further information please contact:

Cybit Holdings Plc cityPROFILE
Richard Horsman, Chief Executive Simon Courtenay
Kevin Lawrence, Finance Director William Attwell
01480 389100 020-7448-3244

About Cybit:

Cybit, a global force in Telematics operates within three core sectors: Internet-based vehicle Telematics solutions; Economic Exclusion Zone (EEZ) Management; and Private Mobile Radio (PMR) based asset tracking and precise positioning solutions.

In the vehicle Telematics sector, Cybit is one of Europe's leading Telematics Service Providers (TSPs). More than 1,500 business to business clients use our fleet and asset management solutions to manage in the region of 40,000 assets. Solutions include in-vehicle technologies, work flow management and internet-based monitoring and reporting software. The company also provides consulting services to advise on legal issues such as duty of care and working hours.

Their newly-acquired PMR business, Cybit Positioning Solutions, provides asset-tracking solutions for both maritime and land-based applications including exploration and mining. Its precise positioning solutions assist in the location and exploitation of oil, gas and mineral reserves around the globe.

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• Re Contract - 26/11/2007

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