Punch Graphix greatly regrets to announce the death of Dick Tilanus, the Company's Chief Executive Officer, as a result of complications following a routine operation. The Company will shortly begin the process of appointing a new Chief Executive Officer. Until this appointment is concluded, Jan Smits, the Chief Financial Officer of Punch Graphix, will assume the role of acting Chief Executive Officer. He will be assisted by Ken Humphreys, one of the Company's non- executive directors, who will until further notice, work for the Company for three days a week. Geoffrey White, Chairman of Punch Graphix, said: "We are deeply saddened by Dick's death, which was wholly unexpected. Dick had made an enormous contribution to the development of Punch Graphix. He will be greatly missed by all his friends and colleagues at Punch Graphix, and we extend our deepest sympathies to his family."