Acquisition Completed

365 Corporation PLC
31 August 2000


365 Corporation plc

365 Corporation plc announces that it has completed the
acquisition of the whole of the issued share capital of
Compass Communications Technical Services Limited and of 54%
of the issued 'A' shares and 50% of the issued 'B' shares of
Compass Telecom Limited.

435,000 Ordinary Shares of 0.25p each in 365 Corporation plc
are to be issued as consideration, together with £430,000 in
cash. Accordingly, application has been made to The Financial
Services Authority for these shares to be admitted to the
Official List and to the London Stock Exchange for these
shares to be admitted to trading.  The Shares rank pari passu
with the existing issued shares of the Company. Dealings are
expected to commence on 4 September 2000.

Further considerations of up to 217,500 Ordinary Shares of
0.25p each are dependent upon the share price of the Company
in 12 months and 18 months time respectively, at each of which
points shares may be allotted and issued such that these
considerations together with the initial equity consideration
do not have market value exceeding £870,000.

Further consideration of up to £450,000 is dependent upon the
growth in monthly telephone airtime resale revenue earned by
Compass Telecom Limited. At least £50,000 of this
consideration must be in cash and the balance may at the
Board's discretion be in shares, such that Ordinary shares of
market value up to £400,000 could be allotted and issued.

In any event, the aggregate consideration will not exceed
£1,750,000 and the number of shares to be issued as part of
that consideration will not exceed 1,536,667.

Symphony Telecom Limited, a wholly owned subsidiary of 365
Corporation plc, already owns 46% of the issued 'A' shares and
50% of the issued 'B' shares of Compass Telecom Limited.


Copies of this announcement are available from the office of
Cazenove & Co for the period of 2 business days from the date
hereof.