Strong growth in webcasting and North American business offset by weak dollar but another year of record operating profit*, up 12.9%, despite losses in discontinued operation in Australia

Options to raise new finance for acquisitions under consideration, including greater involvement of private equity in the ownership structure of the Company which may include taking the business private

* excluding exceptional administrative expenses and amortisation

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GROUP HIGHLIGHTS

Financial – UK GAAP

• Operating loss of £0.1m (2003: £0.1m)
• Loss per share of 11.4p (2003: 4.0p)
• Cash balances healthy at £3.1m (42p per share)
• Current market value of £1.3m for fixed asset investment held on balance sheet at cost of £0.4m

Note: UK GAAP measures include exceptional administrative expenses, goodwill amortisation, profit on disposal of fixed asset investment and loss on termination of operation

Financial – Proforma

• Year on year operating profits* increased by 12.9% despite £359k total adverse impact of weak dollar and operating losses in discontinued Australian operation
• North American revenues up 3.1 % (15.1% in constant currency)
• North American operating profit* up 80.0%
• European Operating profits* fall 9.7% primarily due to disappointing performance in Sweden
• EPS* down 11.0% from 32.8p to 29.2p due, as anticipated, to an increased tax rate (which is expected to decrease in 2005) from 8.9% to 28.1%

* Proforma operating profit excludes exceptional administrative expenses of £225,468 (2003 - £Nil) and goodwill amortisation of £2,786,734 (2003 - £2,720,944). Proforma earnings per share excludes profit on disposal of fixed asset investment £90,747 (2003 - £Nil) and loss on termination of operation £108,756 (2003 - £Nil) as well as exceptional administrative expenses and goodwill

Strategic

• Vcall webcast and web conferencing revenues up 51.1%
• Acquisition of Communicast spearheads expansion into new web events segments
• Fee based revenues up 41.2% from £1.70m to £2.40m
• Options to raise new finance for web-based acquisitions are under consideration, which may include taking the business private. However there can be no certainty that any offer for the Company will be made.

Board Restructure- effective 1^st April 2005

• Patrick Galleher, Chief Operating Officer, North America, becomes Chief Executive.
• Peter Wakeham, previously Chief Executive, appointed Executive Chairman.
• Nigel Wray, previously Chairman, leaves that role but remains a non-executive director

Copies of this release, and a webcast presentation of these results is available on the WILink website www.wilink.com/presentations