TES Thames Water 26

RNS Number:6038A
TradingSports Exchange Systems PLC
07 July 2004







For Immediate Release                                Wednesday 7th July 2004
                                                                   


                       TRADINGSPORTS EXCHANGE SYSTEMS PLC
                                        
                                        
                      BOARD APPOINTMENT AND TRADING UPDATE
                                        
                                        
                                Board Appointment
                                        
                                        
TradingSports Exchange Systems plc ("TradingSports" or "the Company"), the AIM
listed provider of "white label" person-to-person ("P2P") betting exchange
systems, is pleased to announce that it has today strengthened its management
Board with the appointment of Ray Ranson as Executive Director for Business
Development, with immediate effect.


Mr Ranson has thus further increased his personal commitment to TradingSports,
subsequent to his significant financial investment earlier in the year. He will
work closely with CEO Roger Mitchell in leveraging the TradingSports technology
to the sports and gaming sectors.


Ray Ranson has followed a very distinguished professional sports career with
successful and innovative business ventures in sports financing.


Trading Update


The Board asked Roger Mitchell, when he accepted the role of CEO, to undertake a
full strategic review of the business and the Board will update the market as
appropriate. Initial findings have shown that the current business model, which
has been affected by slow adoption of exchanges in the North American Market,
is still not performing as expected and this has only partially been offset by
recent progress in the UK and Europe.   The Board is also reviewing the
Company's future funding requirements and will be examining all options in this
regard.


Comment


Andrew Tottenham, Chairman of TradingSports, commented, "The addition of Ray to
our Board is a huge boost to the Company, especially at a time when a difficult
strategic review is being undertaken and the Company needs to make more of an
impact in markets in which Ray has connections. He is a proven entrepreneur with
an outstanding track record of success in the sports and financial sectors. His
operational commitment, and involvement with the Board is very positive news
indeed."


Mr Mitchell, CEO, commented, "Ray's reputation in our sector is outstanding. I
am very pleased that I will be able to rely on his contacts, credibility and
business acumen on a day-to-day basis. It is a huge vote of confidence in the
future of TradingSports."


Ray Ranson commented, "I am very pleased at the prospect of working together
with Roger and the Board to take TradingSports to the next level. Given the
market leading technology and the continuing development of the exchange product
in the markets, there is a huge opportunity to drive significant shareholder
value. I have already backed that view with my recent personal investment, and I
am now prepared to commit very significant time to the Company."





For further information:

TradingSports Exchange Systems plc

Roger Mitchell, Chief Executive Officer            Tel: 0141 586 3422
                                                             




Background Information


TradingSports, which floated on the London Stock Exchange's AIM in May 2003,
enables its customers to enter the P2P betting market without the substantial
investment of building, developing and maintaining their own P2P exchange
systems. Aimed at the business-to-business market, TradingSports acts as an
aggregator of liquidity from different sports and financial betting companies,
enabling them to benefit from TradingSports' global pool of P2P bettors.


Save as disclosed below, there is nothing further to disclose in relation to the
appointment under schedule two, paragraph (f) of the AIM Rules:


Current and past directorships:


Current directorships:

Ray Ranson Advisory

Arley Group plc

Arley Estates Limited

Arley Developments Limited

Sport Asset Group Limited

Sport Asset Advisory Limited

Sport Asset Management Limited

Any Group Limited

Any Quote Limited

Any Finance Limited

Any Debt Limited

Any Claim Limited


Past directorships:

Coversport & Entertainment Limited

Rayco Sports Limited

Benfield Greig Football Finance Limited

Sportsio Limited






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

END
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