Cadmus Share Conversions

Cadmus Share Conversions

Cadmus Technology Ltd (CTL ) advises that as a result of the call option being exercised by Mr Mark Hotchin for 12.5 million shares today the original J B Were convertible preference shares ( 15,384,615 ) will convert to ordinary shares on 24/12/2003.

The J B Were Convertible preference Shares are subject to a 9.9% cumulative dividend per annum for the period 30/10/2002 to 24/12/2003 or approx 14 months. This equates to a further approx 1.78 million additional shares to be issued .

ENDS

About Cadmus Technology Cadmus Technology Limited (NZSE: CTL) designs, develops and implements innovative point-of-sale payment solutions for merchant businesses worldwide. The company is moving towards being New Zealand's largest manufacturer and exporter of payment terminals, which it sells into rapidly growing markets internationally. The company offers payment and data management solutions, including EFTPOS and data capture terminals, loyalty programs and customer relationship management solutions. Cadmus also provides end-to-end payment solution and data management services for retail, business payment and transactional processing requirements.

Clients include Bank of New Zealand, TAB, Wellington Combined Taxis, Bartercard Australia Pty Ltd, OnQ Business Systems Pty Ltd, eScience Systems Malaysia and Paysys (M) SDN BHD. For more information, please visit www.cadmustechnology.com

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