The Board of ITE announces that valid tenders pursuant to the Tender Offer made by Numis Securities, which closed at 3.00 p.m. on 25 July 2005, were received for 70,948,195 Shares, at 103 pence per Share.

In accordance with the terms of the Tender Offer, tenders have been accepted on the following basis:

(i)    valid tenders of up to 1,000 Shares have been accepted in full, for an aggregate total of 344,875 Shares;

(ii)    valid tenders for more than 1,000 Shares have been accepted in full for the first 1,000 Shares tendered and thereafter for approximately 40.1 per cent. of the Shares tendered in excess of 1,000 Shares.

Accordingly, Numis has acquired the maximum number of Shares possible under the terms of the Tender Offer (after roundings from the scaling back of tenders), being 29,126,208, at the Tender Price, for a total aggregate consideration of £30 million.

The Shares acquired by Numis under the Tender Offer have been re-purchased by ITE and will be cancelled.

Consideration due to Shareholders under the Tender Offer is expected to be despatched to Shareholders on 1 August 2005.

Definitions used in this announcement have the same meanings given in the Tender Offer document sent to Shareholders dated 7 July 2005 setting out the formal terms of and condition to the Tender Offer.