Will add more as and when I have the time - but your starter for 10

For immediate release: 7 May 2003


STRATEGIC ALLIANCE



Envesta plc ("Envesta" or the "Company"), the alternative telephony provider,
announces the formation of a strategic alliance with Europa Telecomunicazioni
SpA ("Europa"), a wholly owned subsidiary of DreamFarm SA ("DreamFarm"), an
Italian based privately held telecommunications business with leading technology
and marketing in the European, African and Asian calling card markets.

As announced on 2 May 2003, DreamFarm, through its majority interest in Argo
Trust Limited, has agreed to acquire 45,562,951 of Envesta's Ordinary shares at
a price of 6.25p per share. Following completion of this transaction, which is
expected to take place on 19 May 2003, DreamFarm will hold 23.3% of Envesta's
Ordinary share capital. Mr Vito Carlo Stampanoni Bassi, President of Europa,
joined the board of Envesta plc with immediate effect on 2 May and two other
board appointments will follow completion of the share acquisition.

Europa's principal business is the sales and marketing of calling cards to
retailers and distribution channels throughout Europe. In collaboration with a
number of financial institutions Europa has been developing value added
financial services to run in conjunction with the telephony on the prepaid
cards.

Commenting on the alliance, Kevin McGovern, Finance Director of Envesta, said, "
We are delighted to welcome DreamFarm as partners and shareholders of Envesta.
We are particularly pleased that DreamFarm recognises the value inherent in our
business and has demonstrated this by the price paid to acquire their holding.
We look forward to a close relationship, which should benefit both our customers
and shareholders. The trading opportunities between the two companies are
considerable, with Seven Telecom, the trading subsidiary of Envesta, providing
wholesale minutes to the alliance and Europa the sales and distribution channels
for our new European product launches. We expect significant synergies and
profit enhancement as a result of the alliance and look forward to a developing
relationship with DreamFarm in the future."

Vito Stampanoni Bassi, President of Europa stated, "This is a significant step
for both companies in achieving a European dimension. The complementary elements
between the wholesale skills of Seven Telecom and the prepaid market knowledge
of Europa will lead to important synergies and economies of scale in purchasing
telephone traffic."

Other Interesting sites

www.noit.co.uk - major shareholder in Envesta
www.envestaplc.com

not holding but note they are up nearly 24% over the last month

latest news i have is

02.05.03 :+0.38, (2.88) Cater Barnard has agreed to sell its entire shareholding in Envesta, amounting to 24,385,333 ordinary shares of 1p each for an aggregate consideration of EUR2,202,987.60, receivable as to EUR535,200.90 on 19 May 2003 (completion) and the remainder on or before 11 August 2003. The purchaser is Argo Trust Limited. At the same time and on similar terms, Global Investments Limited, a company in which Stephen Dean the Chairman of Cater Barnard has a beneficial interest, has agreed to dispose of its holding of 21,177,618 Envesta Shares. The sale of Envesta Shares will enable Cater Barnard to repay bank borrowings of approximately 0.5m and provide the funds to consider a substantial acquisition with a view to establishing a new business for Cater Barnard.

it is related to the above

Stpehen Dean is out - thank god

and the new purchasers are an Italian prepaid company who it looks like are going to use Envesta to buy their minutes via BT

Margins were near 30% and will have increased due to the recent interconnect agreement with BT

As the company employees only circa 12 staff do the maths on a UK turnover of 1m a month together with initial moves into the German Market

Things looking good

Taken from October but a pointer of the business development undertaken in only 2 years since the purchase of Seven Telecom

LONDON (AFX) - Envesta PLC said it expects its wholly owned subsidiary Seven
Telecom Ltd to maintain its "very satisfactory" levels of turnover and
profitability growth.
In the text of a speech to today's AGM, director Lyndon Chapman said Seven
Telecom's revenue in August exceeded 1 mln stg and that September has continued
that trend.
"It is in the board's belief that this level of turnover now forms the base
level from which to grow the business, and with religious and cultural festivals
almost upon us, and our proactive approach to developing new sales routes we
believe that we can maintain the very satisfactory levels of growth and
profitability," he said.

It look interesting .... news not having the desired effect - spread is like Tads - a little wide

the share is clouded by the previous businesses it owned and the fact that it is a start up

give it 12 months for a clean set of accounts

I also note they will also have written off all goodwill in 6 months so that will no longer drag profit

Given it is so small I doubt this will be on many radars

I noted the sub 4 million cap ...btw thats Hugh's favourite phrase :-((

Will track and wait for buying opp



ains

tick down

seems the market doesn't want to know why the Italians bought a 24% stake at 6.25p per share

just noticed - spread still very wide

the 250k T trade mirrors one from yesterday

there was a 250k sell earlier this morning as well

who knows - they did issue some shares recently to fund the German operations

the bid had also risen 1p in a week so may be some taking

like i said - one for the long term

Hi!

hi dixi

looking forward to the next update/results

will be interesting to see what the BT deal has done tomargins and how Germany is getting on

Latest Broker Forcast.........6th May 03
Daniels Stewart ( no rec ) 2003 pre-tax 980,000 EPS 0.40
2004 pre-tax 1,650,000 EPS 0.60

Comment from Investors' chronicle

Envesta link-up with dreamfarm
Friday 9 May 2003



--------------------------------------------------------------------------------

Private Italy-based telecoms group DreamFarm gave Envesta a shot in the arm last week following its acquisition of a 23 per cent stake in the telephone calling card minnow. DreamFarm is buying the shares from Cater Barnard and parties connected with its chairman, Stephen Dean, for a significant premium to the prevailing share price.

Envesta has also signed a strategic alliance with Europa Telecomunicazioni, a subsidiary of DreamFarm. Europa is involved in the calling card market in Europe, Asia and Africa, and the alliance allows Envesta to provide call minutes in return for the sales and distribution muscle of Europa.

Envesta's expertise is its ability to buy wholesale minutes from the likes of BT, and then have the time repackaged into smaller units and sold to pre-paid card distributors. Current-year forecasts point to sales of 11m and profits of 950,000. Mr Dean remains chairman of Envesta, but he no longer retains an interest.

IC VIEW

The shares currently trade at 3p - some way off the 6.25p per share paid by its new Italian partner and shareholder. By clearing what many argued was an overhang, and with current trading good, Envesta's shares could finally be on an upward curve. Worth a look.

Interesting

Bid up 0,5p on the day and a nice 900k buy

oops ..... missed that .... started early on

The plot thickens

I wonder if the 1m is a sell or a delayed buy

worse case scenario is that it is a sell and we have a new 1m worth of holders from 3p upwards

no way of knowing but note the one at 325 was shown much earlier .... if I had to bet it would be a sell

wallop