Re Joint Venture

365 Corporation PLC
26 November 2001

Monday 26th November 2001



          365 and Chrysalis to create sports internet joint venture



365 Corporation plc ('365') and Chrysalis Group plc ('Chrysalis') announce
that they have signed a heads of agreement to transfer their respective
internet content businesses and related assets to a new Company ('Newco'). The
new entity brings together two of the three biggest players in the European
digital sports market to create the number one company in this field.
Following completion of the transaction expected by 31 December 2001, 365 and
Chrysalis will both retain significant but non-controlling minority interests
in Newco.



Operating funds of £2.0m will be jointly provided to Newco by 365 (£0.7m) and
Chrysalis (£1.3m) and is considered sufficient to support Newco's operations
for the next eighteen months.  In addition, 365 and Chrysalis will each make
available a further £0.25m to Newco for future acquisitions.  Neither 365 nor
Chrysalis will have further funding obligations to Newco beyond these
investments.



It is intended that the shareholdings in Newco will be as follows: 365 40%,
Chrysalis 40% and Newco Management 20%.  365 and Chrysalis will each appoint
two non-executive directors to the Board of Newco but neither party will have
any operational involvement going forward.  Richard Pembroke, currently
Managing Director of 365's internet division, will become Managing Director of
Newco, and Marcus Leaver, presently CEO of Rivals, non-executive Chairman.



Newco will combine 365's digital sports content and market-leading products
including Football365, Planet Rugby, Cricket365 and Planet-F1 with Rivals,
Chrysalis' internet content business, which operates Europe's largest network
of independent fan-driven sports web sites. 365's websites currently attract
over two million users a month and the Rivals network has over one million
users each month and 47.8 million page impressions per month and has been in
existence for just over a year. It is the stickiest sports site in Europe with
users spending an average of 37mins 41 seconds on the site.



The merged business will provide its 3 million plus users with access to its
broad, fan-based sports network, which will be supporting and complementing
365's flagship titles in the major sports arenas. Senior management of Newco
is confident that this is a package which offers users an unparalleled
service, and commercial partners a unique and exciting environment.



Commenting on this announcement, Martin Turner, CEO of 365 said:



'The Board of 365 believes that the formation of Newco with Chrysalis
represents the best opportunity to create Europe's leading sports internet
business, and future value can be created in the entrepreneurial and focused
environment of Newco.

Following completion of this transaction, we will continue to focus our
efforts on developing our telecommunication assets and technology,
particularly in the fast-growth area of Voice Services where 365's Eckohtec
division is a leading player in the European market.'



Richard Huntingford, Group CEO of Chrysalis, said:



'The Board of Chrysalis said in its recent Period End Update that it would
concentrate its remaining 'ring-fenced' New Media fund' solely on Rivals and
that we would look to further develop this business. This deal demonstrably
achieves both aims. Chrysalis' funding commitment for Newco is contained
within the 'ring-fenced' funds and the combined business will be the market
leader in the digital sports arena with strong backing.'



                                   - ends -





Enquiries:
365 Corporation plc                                    Tel: [phone]
Martin Turner, Chief Executive Officer
Nik Philpot, Chief Operating Officer

Chrysalis Group plc                                    Tel: [phone]
Richard Huntingford, Group CEO
Lisa Gordon, Director of Corporate Affairs

Financial Dynamics                                     Tel: [phone]
Fiona Meiklejohn/Ben Atwell





SUPPLEMENTARY FINANCIAL INFORMATION

365 Corporation plc



For the twelve months ending 31 March 2001, 365's internet business reported
turnover of £5.2m, and operating losses before goodwill amortisation and
impairment of £7.2m.  Goodwill amortisation and impairment relating to this
business amounted to £24.4m for the year.  This excludes the results of 365's
USA operation, which is not part of this transaction and will be sold or
closed within the next 90 days, nor the operation in Paris which was sold to
Onlysport France SA on 31 March 2001. As at 31 March 2001, the internet
business (excluding the USA and French internet operations) had net assets
totaling £1.5m.  For the twelve months to 31 March 2001, 365's USA internet
operation reported turnover of £0.3 m, and operating losses of £0.4m.