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.

i take your point which is annoying. I expected some profit taking this morning and when it did not happened i dived in!when they then post all those sells an hour later i could have caught a cold!Still could i guess.You need eyes in the back of your head

Appears that prices are firming again.

yup, when you take the estimated value of the shares WHOG hold it will be interesting to see how much progress they make before the product is even launched in the new year.Just on current valuation the price should more than double and if the product really takes off well????????? need a bigger wheelbaroow to caryy all my money!

Can I chauffeur your wheelbarrow in that case?

Just about pulled back.
Willfagg - what did Shares Mag have to say exactly?

Price seems to have consolidated and is ready to move north again. TGTL dipped yesterday on small volume proft taking but is back up again this morning.

sorry for delay been out.Shares mag said:
Warthog's day is coming!
The Gizmondo is a next generation mobile entertainment device with built in music,video,messaging,digital cameraand GPS navigation. It was invented in Britain and will be launched here shortly. The Giz hits US shelves early next year.
"Tiger share have rocketed on the over the counter market in New York to $20 in advance of their elevation to Nasdaq and on news of over 560,000 pre -orders for the Gizmondo device
Best way is to buy shares in Warthog which sold its computer game operations to Tiger in exchange for 700,000 cash and 500,000 Tiger shares a month ago. The Tiger share stake is currently worth 6million or three times Warthog's2 millionstock market valuation!"
I hope my earlier comments reflect this article reasonably accurately.

Just picked up 500k at 1.4p with another order for the same amount in. Looking for this as along term hold with excellent prospects.

Willfagg.
Thanks.
Turned blue again.
Noticed your posting on GOO. Do you know if it has a website? Might get in touch with them for an update. Easy to forget about shareholders when a company is busy.

to be honest iturama dumped GOO in favour of WHOG. I lose faith i any company that makes no comment while their share price goes through the floor.

bit surprised when you look at the trading that WHOG have not made more headway today

Stood up very well to profit taking and closed the spread. Couple of hours ago, before I called the tick-up, Barclays were giving 1.30 sell, 1.40 buy. Quite tight compared to this mornings calls.

quick question...what happens to the company once the shares are off restriction. is everything returned to shareholders or does the name change imply that the non-execs will invest in something else?

dont know but its an assett on Warthogs books and therefore part of the value of the company. I suppose they could take that money and invest elsewhere after a year.

I guess we will know more when the EGM is called.
Can't see the reason for the name change at this time. If the company is sold, I would have thought the buyer would want to rename the company.
Can't see the company wishing to invest in some other venture either, the remaining directors appear to be accountants that have been left to wind up the business at best value.

looks like it, but could be sold as a cash shell (which can be a good thing).

Cost a bit.
Tricky one. Can't see how it will make sense to many companies since any offer would need to be made at much less of a discount, and include the listing & tax losses. If you have that sort of money why not invest direct in Tiger T and not bother with the company or the share price risk during the escrow period?
If you are looking for a listing company, can you afford the shares?
I suspect the two issues will be treated separately.

Good buy opportunity developing.

WHOG Mkt cap currently at 3.28M. Liquid assets currently valued at 6.0M. Very healthy premium for max 10 month wait!

A quick calculation:

WHOG holds 497,866 shares in Tiger Telematics

Last nights closing price for Tiger Telematics = $21.25

Value to WHOG of Tiger Telematic shares is therefore $10,579,652

At current exchange rate of /$ = 1.942, value to WHOG = 5,447,812

Weighted average number of shares in issue in WHOG = 73,135,755

This is equivalent to 7.45p per WHOG share!!!!!!


Need I say more.