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

oops

its all gone pear shaped. what am i supposed to do with 208 shares courtesy of artisan?........hmmmmm i see thats down about 90% after my stop loss was triggered. without wishing a lawsuit on myself , how come everything s dean touches turns to dust after hes stashed away a few quid? this one excepting. looks like hes getting his fingers burnt this time ( allegedly )

Well yes, pear shaped on the corporate front. The share deal between CRB and DreamFarm may have gone sour. The alliance is still in discussion and could bring much to both parties, the recent appointmant to the board should still hold as this is part of the strategy for developing the respective businesses. The two expected appointments were to reflect corporate issues with the share deal and will have no point now in going ahead. James Quinn probably does not take time to talk to the company (I am prepared to be corrected here).

This is a very young company that is generating cash and expanding as markets are identified. The recent dillution was a shame but with funds being used to roll out new services asap it will in the long term prove to have been the right descision. The timing/shareprice are unfortunate but again the expansion of 7T has to be more important in the end.

CRB probably want 6p+ per share because they see the company (EVS) as very undervalued and I guess they would sell for the right deal (self-fulfilling really as CRB are the cause of undervaluation as percieved as an overhang).

The overhang does not really constitute a 20% fall in shareprice as the trading prospects of EVS 7T are not affected by this at all, but some reaction has to be expected for the issue. Much like Game Group certain market obligation issues may have forced out the news earlier than anticipated, the deal otherwise may have been annouced as just the alliance news with no corporate share movement. It is a great dissapointment but that is corporate life.

It does look like a bungled deal but in fact the alliance is a big plus, but as ever is lost in the mire of Mr. Deans deals.

I can understand this being given a wide berth now but I would hope for a trading update end of June? There was one last year on the 28th. Hopefully this will bring news on the new markets being targeted and the profit enhancing access with BT's networks.

It is a toughie but it is new and I belive has good prospects, it does mean weathering the Dean legacy. Not to forget the the Baker and Evans team are highly regarded in this game as top players and there future is tied up in EVS shares issued at 7.5p. They really have the incentive to make this a good one.

The big downer is CRB and the preference shares, plenty have been converted, but who says they will not convert more and offload into the market if CRB are strapped for cash. This is why the transaction with DreamFarm was a plus.

As for DreamFarm and ability to pay - well that is open to speculation, I guess that Dean was pushing for the cash to hard too soon.

Now the prefs are not to be converted into ordinary shares the market cap will reduce proportionately - so the fall in price was in some respects not neccessary - but still a bungled deal is just that.

I will continue to hold and watch with interest, although EVS PR is not the best, one day this may turn into a rewarding investment.

All my own opinion, to which most will say Dean - no chance. Therin lies the problem - a great team tarred with the same brush as the bull market dealmaker extraordinare!!!

Anybody got any opinions on this - recent trading update looked positive, results soon and last weeks expansion news - but price not reacting? This looks like a company with some potential?

thirdtime - I agree

should be profit of circa 900,000 plus the new venture kicking in next year

why won't the price move? who knows, I would think it just needs one year of a clear run and a clean set of accounts

hi folks what do you think about envesta, does'nt it look like one of those quiet unnoticed rising stars?

About time if it is - and I think it will be a great success - more discussion on ADVFN than here - still quiet though.

That's if you can get into ADVFN, down at present.. so pleased I found this site... hi everyone!

I'm here for the same reason gissie.

Hi CNile.. just had a mail, should be up and running by noon, power failure..

I usually am too. What are your views on the present sell off? Do you think its been manufactured or is just that the markets are down generally today? Any guesses as to where it stops and/or rallies?

Thanks gissie.

taquila : I'm in for the medium term so not to bothered. A day or two of pullbacks was inevitable given the recent rise. Having bought in most of mine in at the 2-2.5p range I'm waiting for the 10-12p range before I sell up.

Good Luck

C NILE

bought yest @ 6.8 nasty surprise today but in for the long term

I think this level (under 6p offer) will be the around the low of the day, and was expected. Should recover from here throughout the rest of the day.

topped up today at 6p. pull back was more than expected.

on here as advfn is down, but money am was mentioned yesterday there so was checking out anyway. live pricing is good, but boards not as active (seems to me)

Yes, the bbs are a lot quieter. I think advfn going down this morning and other problems will bring a lot more people to moneyam though, so should hopefully start to liven up.

It had to pull back at some point as people take profits.
I expect we will be range bound between 6.0 and 6.8p now for a short while.
If we find that the lower range keeps getting higher (I.e. 6.0-6.8,6.2-6.9,6.4-6.8) then this is a very strong signal that we have a breakout once the gap is closed to 6.8 onwards & upwards.

Remember - we couldn't keep going up forever!
This is a temporary retracement for everyone to catch their breath!

PS I much prefer moneyam - seems to work most of the time, you get longer on the trades before timeout - just a shame the boards aren't so busy!

Hi guys. These BBs are always quiet. ADVFN is far more active and influential. Where MoneyAM scores is with its stock watch which is far superior. Getting back to EVS, the rebound is on its way!