RNS Number:5078L
SMF Technologies PLC
23 May 2003


On 19 March 2003, the Board of SMF Technologies plc ("the Company") announced
that the proposed acquisition, announced as part of the Interim Announcement,
was not going ahead.  In that announcement it also confirmed that trading
continued to be at an acceptable level but that the short term revenues from
license fees, expected by exploitation of the Company's technologies, would be
constrained.  Since then, trading conditions for the Company have continued to
be very difficult given the current economic climate.

As a result of the proposed acquisition not going ahead, the major shareholder,
who has supported the company since August 2001 through the provision of a loan
note from a company controlled by him, indicated to the Board that he could not
continue to underwrite the Company's operations into the future.

The Board is considering the options available to the Company, including
disposing of its trading businesses, so as to prevent it becoming insolvent and
trying to preserve the possibility of returning some value to shareholders.

A further announcement is expected to be issued shortly.

Astaire & Partners has notified the Company that it is resigning as the
Company's broker for AIM, such resignation to take effect from 30 June 2003.
The Board expects to announce the appointment of a replacement broker shortly.



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