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Date: Monday, 28 July 2008

Immediate Release

XSN plc

('XSN' or 'the Company')

Result of Extraordinary General Meeting

XSN plc announces that, at the Extraordinary General Meeting ('EGM') held earlier today, all of the resolutions proposed to shareholders (as set out in the circular to shareholders dated 3 July 2008) were duly passed. Definitions used in this announcement are the same as used in the circular dated 3 July 2008.

The resolutions included the approval of the proposed acquisition of MarineTrack Limited ('MarineTrack') and the Company's subsequent change of name to MarineTrack Holdings plc. Shareholders also passed a resolution approving the waiver of the obligations which would otherwise require the members of the Concert Party to make an offer under Rule 9 of the City Code.

MarineTrack is a telematics business supplying tracking, alert, alarm, monitoring and messaging solutions mainly to the commercial and recreational maritime markets. These solutions, which integrate hardware and software, utilise global positioning systems ('GPS') to identify the location and movements of marine vessels, as well as monitoring their operational status against pre-determined parameters. This information is communicated via the INMARSAT satellite network and presented to users via a web-based interface.

Completion of the acquisition of MarineTrack is subject to Re-Admission, which is expected to take place on 29 July 2007 when dealings in the Company's shares on AIM is expected to begin under its new name of MarineTrack Holdings plc and under the symbol MTRK and under the ISIN GB00B3BKBK60. 

As from Re-Admission the Company's new web-address will become www.marinetrack.com where information required by AIM Rule 26 may be found.

Following completion of the acquisition, James Butterfield becomes Non-executive Chairman of the Company and Stuart Nicholls becomes Chief Executive Officer. Philip Self, Andy Haffenden and Duncan Lipscombe also become directors. Adam Singer steps down from the board following Completion.

The Company's board will therefore be made up as follows:

Name	Position
James Butterfield	Non-executive Chairman
Stuart Nicholls	Chief Executive Officer
Andy Haffenden	Operations Director
Philip Self	Finance Director
David Elstein	Non-executive Director
Duncan Lipscombe	Non-executive Director

The Company has agreed to acquire the entire issued ordinary share capital of MarineTrack from existing MarineTrack shareholders for a consideration of £1,475,000 million to be satisfied by the allotment and issue of 364,745,896 ordinary shares of 0.01 pence each ('New Ordinary Shares') at a price of approximately 0.4 pence per New Ordinary Share.

By virtue of the share capital reorganisation approved at the EGM, existing XSN Shareholders will receive 3.4 New Ordinary Shares for every one Existing Ordinary Share. 

The enlarged share capital of the Company on Re-Admission will comprise 640,495,580 New Ordinary Shares.

The City Code on Takeovers and Mergers

Following (i) Completion and (ii) assuming exercise of options and assuming that the Company has not issued any further shares between Re-Admission and the exercise of options, the members of the Concert Party will be interested in Ordinary Shares as follows:

Concert party	Anticipated number of Ordinary Shares following Completion	Percentage holding in XSN	Anticipated number of shares following exercise of options	Percentage holding in XSN
Zyzygy plc	196,346,961	30.66%	196,346,961	28.92%
Billam AG	96,498,121	15.07%	96,498,121	14.21%
Jemima Hoskins	25,442,636	3.97%	25,442,636	3.75%
Peter Hire	11,360,711	1.77%	11,360,711	1.67%
Duncan Lipscombe	8,610,514	1.34%	11,812,992	1.74%
Edward Oliver	1,229,056	0.19%	1,229,056	0.18%
Andrew Lipscombe	971,458	0.15%	971,458	0.14%
Andy Haffenden	3,562,011	0.56%	13,169,445	1.94%
Stuart Nichols	6,800,203	1.06%	19,610,115	2.89%
James Butterfield	8,095,480	1.26%	12,899,197	1.90%
Philip Self	0	0.00%	8,006,195	1.18%
	358,917,151	56.04%	397,346,885	58.53%

Following Completion, the Concert Party will, in aggregate, assuming exercise in full of the options held by members of the Concert Party, hold Ordinary Shares carrying more than 50 per cent. of the Company's voting share capital, and will be able to acquire interests in further shares without incurring any further obligation under Rule 9 to make a general offer, although individual members of the Concert Party will not be able to increase their percentage interests in Ordinary Shares through or between a Rule 9 threshold without Panel consent.

Should the members of the Concert Party between them come to be interested in shares carrying 30 per cent. or more of the Company's voting share capital but not hold shares carrying more than 50 per cent. of such voting rights then (for so long as they continue to be treated to be acting in concert) any further increase in that aggregate interest in shares by any member of the Concert Party (other than through the allotment and issue of Option Shares) would be subject to the provisions of Rule 9.

Other shareholders with in excess of 3 per cent. of the Company's issued share capital will be:

Name	Number of Ordinary Shares	Percentage of issued share capital
David Elstein	46,574,601	7.27%
Giltspur Nominees Limited	37,607,400	5.87%
W B Nominees Limited	33,857,200	5.29%
Bircham Dyson Bell Nominees Limited	20,625,000	3.22%

Lock-in Agreements

David Elstein, Lord Steinberg of Belfast and the members of the Concert Party will, following Re-Admission, in aggregate, have an interest in 68.60 per cent. of the Enlarged Share Capital and have given undertakings to Grant Thornton and to Dowgate not to sell, charge or grant any interests over any Ordinary Shares held by them (subject to certain exemptions ) during the 12 month period commencing on Re-Admission except in certain specified circumstances including in the event of an intervening court order or pursuant to the acceptance of, or execution of an irrevocable undertaking to accept, a takeover offer in relation to the Company's share capital from an unconnected third party offeror whether announced or not. In addition, they have undertaken to Grant Thornton and to Dowgate not to dispose of any interest in Ordinary Shares for a further 12 month period unless they consult with the Company's broker prior to any disposal and to make any such disposal through the Company's broker in order to maintain an orderly market in the Ordinary Shares.

  On behalf of XSN and MarineTrack, David Elstein commented: 

'We are delighted that all the resolutions have been duly passed and that the Enlarged Group can now commence trading as MarineTrack Holdings PLC tomorrow.

'In seeking a target for a reverse acquisition, it was considered essential to secure a company led by a highly experienced management team that would offer significant future prospects to XSN shareholders. MarineTrack fulfils such criteria and we are confident in achieving our future goals going forward.

'I am now handing the chairmanship of the Company over to James Butterfield, and I look forward to serving on the MarineTrack Holdings Board under him.'

Enquiries:
Stuart Nicholls	Philip Secrett / Colin Aaronson
MarineTrack Holdings	Grant Thornton (Nominated Adviser)
Tel: 01273 462 001	Tel: 0207 383 5100
www.marinetrack.com
Neil Badger	Katie Dale
Dowgate Capital Stockbrokers Limited	Golley Slater
Tel: 01293 517 744	Tel: 0121 384 9743
	Mobile: 07918 716 754

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