The programme tracks the growth rates of technology companies in seven regions in the UK and Ireland, culminating in a national ranking in December 2003.

This year's event is sponsored locally by UK law firm, Pinsents, and nationally by Hewlett-Packard, the global provider of technology products and services; SCC, part of Europe's largest privately-owned technology group; and the London Stock Exchange.

The Technology Fast 50 programme seeks out those companies that have shown impressive growth rates in the telecommunications, hardware, software and biotechnology markets over a three-year period. This year's programme considered growth between 2000 and 2002. All companies considered for the award must be headquartered in the Midlands region, must be technology-intensive or use unique technology in problem solving, or must devote a high percentage of effort to research and development.

Chris Robertson, Technology, Media and Telecoms partner for Deloitte in the Midlands, said: "The Fast 50 programme has always been a reliable indicator of whether British innovation is leading to more growth and wealth creation. These companies have demonstrated how to survive and thrive in today's market by helping their customers reduce their costs and improve their performance. We are delighted that our sponsors have joined us in encouraging fast-growing companies to showcase their businesses and to contribute to the next wave of innovation in the UK's technology sector."

Andrew Hornigold, Corporate Partner at Pinsents and Head of the firm's Technology Chosen Market, said: "We would like to congratulate this year's winners and applaud their achievements. Despite challenging trading conditions over the last 12 months they have shown tremendous revenue growth and performance. Their remarkable tenacity, innovation and dedication is an inspiration to all and proves that Midlands companies continue to offer cutting-edge solutions to their clients world-wide."

Martin Downes, Managing Director of Tariff Reduction Services, commented: "We are extremely proud to be included in the Technology Fast 50, and we feel it is great recognition for the hard work and effort we have expended over the last twelve months."

Notes to Editors

For further information or photography please contact
Lucy Freeman on 0208 527 2531.

Tariff Reduction Services is a national cost containment company specifically operating within the utilities, road fuels and office services market place. All Company activities are aimed at reducing customer operating costs through selecting the most appropriate suppliers. Apart from providing the best cost solution we also offer a similar if not more enhanced level of service.

About the Deloitte Technology Fast 50 Programme

The programme consists of a series of regional programmes covering the East, London & South East, Midlands, South West & South Wales, the North and Scotland and Ireland. Each region will host an awards ceremony to honour the 50 fastest growing technology companies in their areas in October and November. Following the regional programmes, Deloitte will publish a national ranking of the UK's Technology Fast 50 companies.

Eligibility criteria for the Technology Fast 50

l In business for a minimum of 3 years

l Considered a technology company defined as:

producing technology

manufacturing technology-related products

technologically intensive or uses unique technology in problem-solving

devoting a high percentage of effort to research and development of technology

l Parent company must be UK owned and headquartered in a participating region (subsidiaries do not qualify)

l Turnover must be over Euro 50,000 in 2000

The Technology Fast 50 programme was originally started in San Jose, the centre of Silicon Valley, California in 1995 and has expanded across the globe in the last six years. Both the regional Technology Fast 50 and the national Technology Fast 500 were created to recognise the outstanding contribution of fast growing technology companies to the US economy.

For further information, visit http://www.fast50.co.uk

Deloitte & Touche LLP

In this press release references to Deloitte are references to Deloitte & Touche LLP.

Deloitte & Touche LLP is the UK's fastest growing major professional services firm based in 21 UK locations, with over 10,000 staff nationwide and fee income of £1,228 million in 2002/2003. It is a member firm of Deloitte Touche Tohmatsu, a leading professional services organisation, delivering world class audit, tax, consulting and corporate finance services, with around 120,000 people in over 140 countries. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.

Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority.

The information contained in this press release is correct at the time of going to press.

For further information, visit our web site at www.deloitte.co.uk