RNS Number:3474T
Microcap Equities Plc
17 December 2003

Embargoed Released: 0700hrs 17th December 2003

                              Microcap Equities Plc
                         ('Microcap' or 'the company')

Microcap Equities announces that it has received notification from Grant
Thornton who resign as nominated advisors with effect from the close of business
on the 14th of January 2004.

The Board would like to point out that it is standard practice for the company
to be provided with detailed explanation as to why such a decision has been
taken and has been advised by Grant Thornton that the decision is in line with a
change of internal business strategy and is in no way in connection with, or a
reflection of, Microcap's business practices or performance.

Microcap will seek a replacement nominated advisor over the coming days and
shareholders will be kept fully informed with any progress as and when it
occurs.


For Further Information:

Adam Reynolds/Andrew Tan                           0207 245 1100
Hansard Communications


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

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