http://www.warthog.co.uk
Daily Execution Price and Volume

Major Shareholders
( 4 Nov 04) 367.48m 1p Ords - Evo Noms Ltd 9.12%, Broughton Ltd 8.16%, Chase Nominees Ltd 4.76%, Barclayshare Noms Ltd 4.71%, Goldman Sachs Secs (Noms) 4.18%, HSBC Global Cust Noms (UK) 3.81%, Gartmore Inv Ltd 3.09%, A J Hall 2.05%, Other Dirs 1.34%.
http://www.hemscott.com/internet/custom/whog/
Trades over 90,000 shares are delayed in reporting by 1 hour.

03 November 2004
WARTHOG PLC
DISPOSAL OF SUBSIDIARIES

The board of Warthog plc (the 'Company') announces that it has today completed
the sale of all of the Company's subsidiaries to Tiger Telematics, Inc ('TGTL')
together with the transfer to TGTL of certain intra-group indebtedness due to
the Company. The total consideration including assumed indebtedness is $8.11
million of which $1,113,000 will be paid in cash and $7 million satisfied by way
of an allotment of 497,866 shares of common stock in TGTL at $14.06 per share,
being the average mid market closing price of a TGTL common share over the 14
days preceding completion. These shares are restricted stock and as such can
only be traded on or after the first anniversary of completion (the
'Anniversary') in accordance with U.S. securities laws. Up to the Anniversary,
these shares will be held in escrow against any claim arising under certain
warranties, tax indemnities and completion account net asset value adjustments
set out in the sale and purchase agreement. 150,000 of the cash consideration
will also be held in escrow until the Anniversary, pending specific warranties.
The Company has waived the balance of all other amounts due to it by its former
subsidiaries.

Upon completion of the transaction, the executive directors Ashley Hall, Steven
Law and Simon Elms together with one other remaining employee of the Company
will transfer employment to TGTL leaving Ian Templeton FCA and David Robinson as
non-executive Directors of the Company. The Company has also undertaken to
change its name and will be calling an EGM to effect such a change in due course
and will at that time update shareholders further.

The board of Warthog plc has sought to complete this transaction as rapidly as
possible (and therefore did not elect to seek shareholder approval) because the
group has continued to face difficult trading conditions within the games
development industry, as reported in the Company's Final Results on 28 September
2004, which has put the group under ongoing financial pressure. In addition,
TGTL required the transaction to be consummated as expeditiously as possible, in
conjunction with the commencement of shipping of its Gizmondo product into the
UK. The transaction leaves the Company having discharged substantially all of
its liabilities and with a valuable shareholding in TGTL which will be capable
of realisation in a year's time. The realisable value of this shareholding
depends entirely upon the commercial success of TGTL and the performance of the
TGTL shares on the financial market.

The board considers, in conjunction with its advisers, that this transaction
represents the best available outcome for the Company and its shareholders.

Tiger Telematics, Inc is listed on the 'NASDAQ Other OTC Market' under symbol
'TGTL'. TGTL's publicly stated intention is to apply for a listing on the
'NASDAQ National Market' in December 2004. TGTL is a designer, developer and
marketer of mobile telematics systems and services that combine global GPS
functions and voice recognition technology to locate and track vehicles and
people down to street level in countries throughout the world. The systems are
designed to operate on GPS and are currently being marketed to GSM current and
potential subscribers, primarily by the company's United Kingdom based
subsidiary, Gizmondo Europe Limited ('GEL'). GEL is a wholly owned subsidiary of
TGTL and is the maker of the Gizmondo, a next-generation mobile entertainment
device which includes games, built-in music, video, messaging and picture
functions and GPS. On 29 October, TGTL began shipping its first generation
product as part of a strategic retail roll out in the UK.

The transaction gives GEL access to existing games content and porting
technology to enable the transfer of titles developed for use on other platforms
on to the Gizmondo handheld device. Warthog plc shareholders will therefore
benefit from continued investment in TGTL as it seeks to exploit the games
content and technical capabilities that the Company has developed over the past
few years.

As previously announced on 12 October 2004, GEL is interested in 8.62 per cent.
of the Company's current total issued ordinary share capital.

About the Gizmondo device
The Gizmondo is powered by a Microsoft Windows CE.net platform, boasts a
2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates
the GoForce 3D 4500 Nvidia graphics accelerator. It provides cutting-edge
gaming, multimedia messaging, an MP3 music player, MPEG4 movie playing
capability, a digital camera and a GPRS network link to allow wide-area network
gaming. Additionally, it contains a GPS chip for location based services, is
equipped with Bluetooth for use in multi-player gaming and accepts MMC card
accessories.

The Gizmondo device and its games are due for launch in the UK in the fourth
quarter 2004 and in North American markets from the first quarter 2005.

Further information on TGTL, GEL and the Gizmondo device can be found at:
www.tigertelematics.com
www.gizmondo.com
Enquiries:
Ian Templeton
Chairman - Warthog plc
Tel: 0870 122 5420

6 November 2004.
Daily Mail Newspaper : Page 80.

DEALERS believe that Warthog, 0.11p dearer, could be a good recovery punt. More than 52m shares in the computer games developer changed hands on hopes that the worst is over. Tiger Telematics, a leading European games console maker grabbed it by the tusks in October when it bought its subsidaries, intellectual properties and assests. In return Warhog acquired a stake in TT which is now worth at least 3p per share.

this sounds a bit more upbeat . We needed something as things were very flat and the share price has certainly been suffering.

Wharthog's results

'As of today's date we have 76,777 in cash and ongoing costs of 6,500 per month'.

Since 1st November 2004 the value of Tiger Telematics Inc shares has fluctuated
between $11 and $31 per share. Tiger Telematics Inc is still an early stage
company that has not yet achieved any significant turnover and is still heavily
loss making. We cannot, therefore, have any certainty as what these shares could
realise if we were to sell post 2nd November. However up to that point the
478,866 shares remain in escrow.

The directors are currently reviewing acquisition opportunities.

Now to me this sounds like the directors are intending selling some/all of the Tiger shares as soon as possible to provide enough funds for them to pay the bills and lunches whilst they find something to spend the rest of our money on. Or this is altogether too cynical?

Does anyone know whether they have to defer to the shareholders to sell the Tiger stock?

Ouch.

Bit of a drop! Anyone picked up whats caused it?

Do we want these directors to look at acquisition opportunities?They were a catastrophe running Warthog so I am a lot happier with them just having the odd lunch and leaving TGTL to try and grow the value of the WHOG shares.
In answer to your question Bugz possibly reactions from people with similar feelings to mine + the TGTL share price is pretty awful @$13.50( it did drop Friday.) I would be a lot happier if it was c $15 . I would expect WHOG to track higher as it went above this level.

Looks like we have a dilemma. Only a month to go before WHOG can sell their shares in TGTL but at current price, they would lose out on about $1 million compared to the value that they originally inherited a year ago. Having said that, they don't have enough pennies in the kitty at the moment to go on an acqusition hunt. TGTL is now set to go with NASDAQ which could improve their position in the international market place and they have also declared who they have in tow for marketing the Gizmondo in the States which is implied to start this month. So the question is will WHOG bother to wait to see which way the pendulum swings for TGTL or are they itching to have another crack on their own? Those that want to follow Gizmondo rather than WHOG may soon have that alternative by investing directly in TGTL on NASDAQ.

be honest here, does anyone know anyone that has a giz???

i doubt they can compete with the big boys, ie sony

Aimtrader, yes I do know someone who has a Gizmondo. It's unique, very good feel to it, nice screen etc. IMO it's so different it cannot be compared to the likes of Sony, it's more a matter of taste or branding that will make consumers decide which or what to buy. For ROI Sony have to sell millions from day one, for GEL it's more like tens of thousands.

i suppose the question is just how much they will ask the shareholders before they start trying to squander our money?? I feel prepared to give the TGTL management a chance but the old WHOG management should just put options to the shareholders and not get too excited about acquisitions. Their track record performance combines the words "pxxx up" and "brewery" in it!!
I think we are still struggling to get an accurate assesment of the GIZ's likely future. IMO

Willfagg.
Agree with you. The statement was very wooly. Problem is that they can't sell the shares in any quantity at present. Price is bad enough as it stands. Strategy should be to hold and sell some into strength. Can't see that being before the US launch and the Nasdaq listing. A broader shareholder base might permit some shedding.
Talk of looking for acqusitions is nonsense.

now we have the lowest share price of the year for TGTL! Someone in an earlier thread suggested that they would not launch in October but defer and launch the bigger screen version in the new year. I think this would be disastrous and hope the share price movement is not a reaction to this possibility.
However I would have thought that they would have had to prepare stock for the launch and the rework/scrap would be most unwelcome.
I thinke we have to hope for a USA launch+ the games catalogue growing as promised or better and that the recent free satnav software will kick start the Giz. .They (we) need some good press!!!

TGTL now at $9 lowest price of year and WHOG down 25% on the day. I would have expected a comment from either TGTL or WHOG or both

From Pink Sheets posted before the dive on share price.

Company To Watch: Tiger Telematics

Oct 05, 2005 (TelecomWeb News Digest/Access Intelligence via COMTEX) -- Tiger Telematics Inc., a designer, developer and marketer of GPS-enabled telematics equipment and the Gizmondo gaming device, is looking to move from over-the-counter trading to the Nasdaq. It recently filed Form 10Ks with the U.S. Securities and Exchange Commission for the year ended 2004 and is focused on completing its Form 10Q, which covers the full year, to enable the company to be listed on Nasdaq. The listing, when approved, will permit Tiger to engage a much larger investor base, because it permits retail solicitation orders and research by analysts. Tiger's common stock also will be considered a "marginable" security for loans.
Tiger also is preparing to launch its Gizmondo GPS-enabled portable gaming device in the United States, which it expects to have on the market for the holiday shopping season. This news likely contributed to an incremental boost of the company's stock. On Sept. 28, shares closed at $13.40, up $1.05 from the previous day, and they picked up an additional 10 cents Sept. 29. However, Tiger Telematics still has a way to go to recover losses dating back a month. Shares closed at $18 Aug. 3 but they have been on a downward trend since, bottoming out at $12.35 Sept. 27. If Gizmondo finds success in an already crowded U.S. handheld gaming market, that should help push the stock up during the next few months.

TelecomWeb News Digest, Vol. , No.

Strange happennings.Cant really see reason for rise this morning.perhaps they just look a bit cheap at the moment but the TGTL price is certainly pretty sick at the moment.I understood the GIZ was getting USA launch in October and article says "it expects to have on the market for the holiday shopping season"(which holiday?do they have a haloween holiday in the "Fall" sorry i mean Autumn). Its now the 6th Oct , why no confirmation of exact Launch date?
I confess my aspirations have changed somewhat from "becoming rich" to "i hope i get my money back!"
The USA launch seems the pivotal point, if it goes well and they go onto the main market there is still some hope for my aspirations but I dont think they have handled the product launch and marketing very well so far. Lets hope they have learnt some lessons.

I've just spent last evening going through WHOG's final results published on 30 Sept. Now I'm no expert in these matters, but I must admit I found some things that I didn't like and wasn't sure about.

1) The accounts show the number of employees in the 2005 period as 76, down form 226 in the previous year. What the ****! are they doing?

2) The combined salaries for this workforce was 2,442,132 in 2005 compared to 7,248,460 in the previous year. This means that the average salary was of the order of 32,133 per head. That's a lot of reward for doing nothing (IMHO).

3) This is the bit where I am probably out of my depth, but the numbers given for the change in the share premium account due to issue of new shares over the period don't IMHO appear to add up correctly:

During the year 28,097,478 ordinary shares were issued as follows:

Type Number Nominal value () Share premium ()

Issued at 2p 8,500,000 85,000 85,000
Issued at 40.63p 353,090 3,531 139,911
Issued at 1.9925p 19,244,388 192,444 191,001

28,097,478 280,975 415,912

(Apologies for changing font types - but how do you get tabs and spaces to work?)

Note that the nominal value is equal to the number of shares concerned multiplied by their face value of 1p. My observation (question) is why do the figures for the share premium (above) show no constant relationship between the issue price and the number issued. For example, 353,090 shares at 40.63p is very approximately equal to the figure given in the share premium column of 139,911 (only a 2.5% difference). However, the same is not true for the shares issued at a price of 2p and 1.9925p. Here the figures given in the share premium column are some 50% different from the sum you would get when multiplying the number of shares bought at the prices shown. Is this correct?

As for the drop in TGTL sp, are we really that suprised? Call me a cynic but if I was just about to list my company on the Nasdaq I would want to buy a lot more shares before the price shoots up. So a bit of help from those in the know should bring the price down to a level where I could fill my boots. Market manipulation methinks.

All of course IMHO and without prejudice.

you could well be right starfrog.there was a higher than usual trading volume yesterday.will be interesting to see what happens during this month.I confess i am unable to unravel your figures either. However I have found similar difficulty when attempting to analyse this with other companies....I am not sure what that tells us!The considerable reduction in headcount is hardly bad news.Most companies would get accolades for reducing their overhead costs by 66%!I think it likely that you would retain key skills within the business so the salaries do not seem an issue with me.In fact if you calculate the average salary per employee its only gone up41 pa which again looks a very good result.All IMO and thanks for the post which was very interesting.

..seems to be heading back up - not surprising at these values praps I should have sold at 1.2.. oh me miserum :-)

Is this what we have been waiting for?? Not quite, but someone's nervous about joe public thinking the Giz will be a no show this side of Christmas. From Pink Sheets this pm.

COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:

Tiger Telematics Confirm USA Launch Date Of October 22, 2005; USA Launch Will Make Product Available in All 50 States; Additional UK Retailers Named

JACKSONVILLE, Fla., Oct 6, 2005 (CCNMatthews via COMTEX) -- Jacksonville, Florida-based Tiger Telematics Inc (other OTC, TGTL) has confirmed its USA release date of October 22, 2005 for Gizmondo and announces further retailers carrying the product in the United Kingdom.
Carl Freer, co-founder and Chairman, Tiger Telematics, says: "Contrary to rumours in the marketplace we are not delaying the scheduled USA launch, we are committed to the October 22, 2005 release date, and the product will be available in all 50 states well in advance of the Christmas retail season."

The extensive list of UK retailers continues to grow following the demand generated by the new Satellite Navigation package. Previously announced retailers like Comet (a leading UK electrical supplier with 264 stores), Argos (the UK's #1 catalogue-based highstreet retailer), Carphone Warehouse, HMV, Virtual Games, Harrods, Amazon and the top-10 destination John Lewis stores, are joined by Play.com and Maplin.

Play.com is one of the fastest-growing online retailers of DVD, music, books, games and consumer electronics, whilst Maplin features over 75 stores across the UK, a catalogue carrying over 15,000 products, and a high-traffic online presence.

Michael Carrender, CEO, Tiger Telematics, says: "Tiger Telematics is strategically well positioned in a rapidly growing mobile gaming industry. This has generated discussions that may or may not lead to a substantial corporate action or strategic opportunity."

well 11Million bought in 2 days cant be bad...

Activity levels are uncommonly high.TGTL showing some recovery, but I would feel a lot easier if they stayed the right side of $15.
Deancrofts post is very welcome where they confirm they are launching in the USA on 22 October.

TGTL are bombing today - 15% down. Seems strange with the Gizmondo USA launch only 2 days away?Anyone aware of anything?