Conversion of Redeemable Cumulative Pref. Shares

Feedback PLC
4 January 2000

                         - Changes in share capital -                         

Feedback PLC announces that following the receipt of conversion notices 4,000
10 per cent. (net) Convertible Redeemable Cumulative Preference Shares of £1
have been converted into 20,000 Ordinary Shares of 10p each in the Company.

The issued share capital of the Company following this conversion is 989,283
10 per cent. (net) Convertible Redeemable Cumulative Preference Shares and
11,276,421 Ordinary Shares.