COMCAB ANNOUNCES DEPARTURE OF GEOF KALEY

After more than two decades at the helm, Geof Kaley, the CEO of Computer Cab and CityFleet, will be departing from the organisation with effect from 20 March 2002, In the words taken from his letter to his staff and drivers, he said, " I will miss the people - and the brand - but the decision to venture into something new has been fermenting in my mind for some time."

He went on to say, "My time at the company has been a roller coaster of challenge and success - and having the opportunity to change the minnow of the industry into the giant has been a privilege I will always cherish." Geof became Managing Director of London Wide Radio Taxis in May 1978, taking the company from 248 drivers and an annual turnover of just 200k to the industry's largest with 4,200 drivers and a turnover of over 90m. In July 1997. when the LTDA sold a controlling interest in Computer Cab to the DelGro Corporation - one of the world's largest transport groups - the company had to make a paradigm shift from being part of a cooperative, to being a strategic business unit in a highly commercial organisation.

Geof led his team through this change process, moving from modest top line earnings (EBITDA) of circa 500k per year to earnings in excess of 5m. Looking ahead, Geoff said, "Following much-owed time with my family, I will continue to be fully active, pursuing political as well as business interests, within the taxi industry through my Chairmanship of the LTDA and my Vice Presidency of the IRU. I remain extremely optimistic about the future of our industry."

Geof hands over the reins of Computer Cab to Mike Galvin, who has worked with him for over 15 years - and the reins of CityFleet (the company set up to expand operations outside London) to Bernie Connor. Both Mike and Bernie have been appointed Managing Director of Computer Cab and CityFleet respectively since July 2001. Geof said, "Mike is well-placed to take over the helm - working his way up through almost- every department. I leave ComCab in very capable hands". About Bernie he said, "Bernie has demonstrated his ability as Managing Director of DataCab and I am certain he will transfer those skills to the bigger picture of CityFleet. I wish them both every success."

Geof added, "I would also like to thank the Chairman, Mr Wong Hung Khim, Board members and shareholders for the opportunity to serve at ComCab. Without their support and guidance, the phenomenal growth that we have witnessed since 1997 would not have been possible."

Wong Hung Khim. Chairman of Computer Cab, said "We are sony to see Geof leave, but we respect his decision to pursue other interests. We thank him for his contributions to the company and wish him all the best in his endeavours ahead. I have every confidence that ComCab and CityFleet will continue to power ahead under the leadership of Mike and Bernie."