RNS Number:1068A
Acquisitor Holdings (Bermuda) Ltd
24 June 2004


                                                                    24 JUNE 2004

                       ACQUISITOR HOLDINGS (BERMUDA) LTD.
                  (Ticker: Reuters AOB.L or Bloomberg: AOB LN)

           DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING SUBSTANTIAL
                        ACQUISITIONS OF SHARES ("SARs")


Date of acquisition       23 June 2004

Acquisition in            Baltimore Technologies plc

(1) Class of voting       Number of shares/rights   If rights over shares 
    shares                over shares acquired      acquired as opposed to 
   (eg ordinary shares)                             the shares themselves
                                                                                                
    Ordinary Shares       40,000 shares



(2) Resultant total       Resultant total holding   Total percentage
holding of voting shares  of rights over shares
(and % of total voting    (and % of total voting
shares in issue)          shares in issue)

14,000,165 Ordinary
Shares (26.03 %)                                    26.03 %


(3) Party making disclosure                    Acquisitor Holdings (Bermuda) Ltd

(4) (a) Name of person acquiring 
shares or rights over shares and, 
if different, beneficial owner                 Acquisitor Holdings (Bermuda) Ltd

(b) Names of any other persons 
acting by agreement or 
understanding                                  David Buchler, Robin Willams,
                                               George Wardale, John Radziwill, 
                                               Duncan Soukup, Tim Lovell, 
                                               Nicholas Gill, Robert Edgell, Ian 
                                               Rosenblatt, Ken Cronin, Janine
                                               Jardine, Oliver Smith, Dov Katz

Name of signatory                              Dawna Ferguson

Telephone and extension number                 001 441 299 4916

                                    --ENDS--

Further information can be obtained at         www.baltimoreaction.com

Enquiries

Gavin Anderson & Company                       020 7554 1400
Ken Cronin / Janine Brewis

Information on Acquisitor Holdings can also be obtained at:
www.acquisitorholdings.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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