RNS Number:9856R
Baltimore Technologies PLC
12 November 2003




 BALTIMORE TECHNOLOGIES ANNOUNCES BOARD AND SENIOR MANAGEMENT CHANGES AND POSTS
                    NOTICE OF EXTRAORDINARY GENERAL MEETING

   *Circular posted today giving notice of Extraordinary General Meeting on
    28 November 2003 to seek shareholder approval for disposal of core PKI
    Business

   *Board to be restructured to reflect Group's reduced trading activities

London, UK - 12 November 2003: Baltimore Technologies plc (London: BLM) today
posted a circular to its shareholders giving notice of an Extraordinary General
Meeting (EGM) principally to seek approval for the proposed disposal of
Baltimore Technologies' PKI business to beTRUSTed as announced on 22 September
2003. The EGM will be held on 28 November 2003 at 12:00 pm.

Following the completion of the proposed disposal, the continuing Group's assets
will consist primarily of cash currently held, proceeds from the disposal and
the Company's residual hardware and software support business. The Company
intends to sell this residual business shortly and will thereafter seek to
ensure that shareholder value is maximised by pursuing one of a number of
options available to it. These options include returning cash to the
shareholders, making a new acquisition or being involved in a reverse takeover.
Depending on the option that is chosen, it may be the case that the Company
becomes unsuitable for listing on the London Stock Exchange under UKLA listing
rules.

Additionally, in expectation of this sale of a significant percentage of the
Company's operational business, the Board has decided that there should be
changes at both the Board and the senior management level to reflect this and to
further reduce costs.

Copies of the circular are available for public inspection at the Document
Viewing Facility of the Financial Services Authority, 25 The North Colonnade,
Canary Wharf, London E14 5HS.

BOARD AND SENIOR MANAGEMENT CHANGES

Peter Morgan, Chairman, will resign from the Board immediately after the
Extraordinary General Meeting on 28 November 2003. Bijan Khezri, currently Chief
Executive Officer, will become Executive Chairman and will also retain his Chief
Executive responsibilities.

Philip Smith, Chief Financial Officer, will resign with effect from 30 November
2003. Denis Kelly, currently Executive Vice President, Global Business
Operations, will also assume the responsibilities of Chief Financial Officer and
Company Secretary, and will join the Board. Denis Kelly has not been a director
of any listed Company within the past five years, and there are no details to
disclose for the purposes of Rule 16.4(b).

David Guyatt, Non-Executive Director, will resign from the Board immediately
after the EGM and currently there are no plans to replace him.

John Cunningham, the Senior Independent Non-Executive Director, has announced
his intention to resign from the Board when a replacement has been agreed.

John O'Sullivan, Executive Vice President Engineering, will resign with effect
from 30 November 2003.

COMMENT:

Commenting on the Board and senior management changes Chief Executive Bijan
Khezri stated:

"Following completion of the sale of Baltimore's operational businesses, the
Company's assets will consist primarily of cash. Today's changes relating to
senior management as well as Board structure reflect this. We are now focussed
on reviewing the future options available in order to maximise value for
shareholders. We expect to update our shareholders shortly on the future course
of the Company. I would like to take this opportunity to thank the departing
Board and senior management members for their outstanding commitment and
dedication to Baltimore over the years."

FUTURE BOARD STRUCTURE

With the departure of Peter Morgan, David Guyatt, and the appointment of Dennis
Kelly, the Board of Baltimore Technologies will be reduced from seven to five
members, comprising of two Executive Directors and three Non-Executive
Directors:

Bijan Khezri, Executive Chairman and Chief Executive Officer.

Dennis Kelly, Chief Financial Officer and Chief Operating Officer.

John Cunningham, Senior Non-Executive Director.

George Powlick, Non-Executive Director.

Simon Enoch, Non-Executive Director.

                                    - ENDS -

For further information:

Smithfield

Andrew Hey  020 7360 4900
Nick Bastin
Will Swan

Notes to Editors

Bijan Khezri was appointed Chief Executive in October 2001 after having rejoined
the Company as non-executive Director in July 2001.

Bijan initially joined the Board of Baltimore Technologies as a non-executive
Director in 1998 and assumed executive responsibilities for corporate strategic
development in October 1999. In May 2000, he gave up his executive
responsibilities and left the Company as a non-executive director in November
2000. In addition to several board positions in the technology sector, Bijan has
been a Member of the Supervisory Board of Frankfurt-listed Jetter AG since 1998.
He started his career in equity capital markets in London after having graduated
from the Institut Universitaire de Hautes Etudes Internationales in Geneva.

Denis Kelly, joined the Company in 1998. He has served as EVP Global Business
Operations since October 2001. He has over 10 years experience working in senior
finance positions in the IT industry. Prior to joining the Company, he was
European Financial Controller at CSK Software, a software development division
of CSK International, where he was responsible for eight European subsidiaries
of CSK Software. From 1992 to 1995 he acted as Financial Controller at Quay
Financial Software, a leading supplier of Dealing software systems. He holds a
Bachelor of Commerce Degree from University College Galway and also a Master of
Business Studies Degree.

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About Baltimore Technologies

Baltimore Technologies' products, professional services and solutions solve the
fundamental security needs of e-business. Baltimore's e-security technology
gives companies the necessary tools to verify the identity of who they are doing
business with and securely manage which resources and information users can
access on open networks. Many of the world's leading business and government
organisations use Baltimore's e-security technology to conduct business more
efficiently and cost-effectively over the Internet and wireless networks.

Baltimore's products and services are sold directly and through its world-wide
partner network, Baltimore TrustedWorld. Baltimore Technologies is listed on the
Official List of the London Stock Exchange (BLM). For more information on
Baltimore Technologies please visit www.baltimore.com

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