AGM Statement

FOR IMMEDIATE RELEASE

                                                              25 September 2003

                              BETINTERNET.COM PLC                              

                       ('betinternet' or the 'Company')                        

                                 AGM STATEMENT                                 

At today's Annual General Meeting of betinternet, the Chairman, Mr Denham Eke,
made the following statement regarding the Company's current trading position:

The company's key activity indicators continue to grow. In the six weeks since
the English Premier League season commenced, internet turnover was 34% greater
than the same period last year. Registrations, which were 57,037 at the
year-end, now exceed 62,000. However, the impact on margins explained below,
will mean that even when restored to previously experienced levels, the outcome
for the first half of the year will be materially below expectations.

In the sports-book business, during the first quarter profitability has been
impacted by two main factors:

 i. Margins since the start of the soccer season have been well below
    expectation. In addition, margins within the stand-alone telephone betting
    operation have shown considerable levels of volatility;
   
ii. 2003 has been the first summer since 1999, when there has not been a major
    soccer competition, and the Company's turnover, during the summer, has been
    negatively impacted as expected.
   
A committee of the Board has been established to review the Company's risk
management strategy and operations, to ensure that the best possible risk
systems are being used, to complement the increased turnover growth which has
taken place during the past twelve months. Sports Gaming Limited, a respected
consultancy to the gaming industry will provide specialist advice to the board
on risk management `best-practice'.

In the Euro Off Track ('EOT') business turnover levels have increased fourfold
in the first quarter of the new financial year. New customers are largely of a
business-to-business nature, and attract lower margins than those previously
experienced. The Board is pleased to report that the joint venture has now
achieved profitability, albeit at a modest, but growing level as we, and our
partner, continue to invest in vital technical infrastructure and to build
customer numbers.

                                   - More -                                    

In looking towards the remainder of the financial year, the expectations of the
Board are that turnover levels will continue to grow, especially as following
completion of our negotiations with the Isle of Man authorities, the Company is
authorised to advertise in the UK market with effect from September 2003.
Further, the board believes that margins will be restored to previous levels as
the soccer season proceeds and the risk management profile is reviewed.
Overall, the Board remains confident that the Company will achieve its goal of
becoming one of the leading online global gaming companies.

                                      END                                      

For further information:

betinternet.com plc Tel: [phone]

Paul Doona, Managing Director

Waughton Tel: [phone]

Robin Hepburn/Sorrel Davies