Future Network PLC
19 April 2000
THE FUTURE NETWORK APPOINTS
NEW BOARD MEMBER
Michael Penington joins Future as Non-executive Director
The Future Network plc (LSE: FNET), the specialist consumer magazines
and websites publisher, today announces that it has appointed Michael
Penington to the Board as Non-executive Director with immediate effect.
Mr Penington, 41, joins the Future Board after 16 years at US
investment bank Morgan Stanley Dean Witter, most recently as an
Executive Director in the Corporate Finance Department. His
experience at Morgan Stanley Dean Witter included transactions in
several European countries and across a wide range of industries,
including coverage of venture capital markets. He holds a D.Phil.
from Oxford University.
Commenting on his appointment Michael Penington says:
'I've been involved with The Future Network since before its IPO.
I'm looking forward to adding my contribution to the development of
the business and continuing my association with a very talented
management team.'
Mr Penington currently holds no other directorships.
For more information:
Greg Ingham, Chief Executive 01225 442244
The Future Network plc
James Longfield/Harriet Keen 0171 357 9477
Hogarth Partnership
About The Future Network plc
Future was founded in the UK in 1985. Today it publishes over 120
magazines worldwide and has extensive online activities attracting
the attention of 4.6 million unique visitors and generating over 58
million page views per month. It is the world's fastest growing major
publisher; the leading publisher of video games and home computing
magazines in the UK, France, Italy and the US; and, ranks as the
fourth largest magazine publisher in the UK. Future employs over
1,400 people in offices in Bath, London, San Francisco, New York,
Paris, Milan, Munich and Rotterdam. Future was floated on the London
Stock Exchange in June 1999 and has a current market capitalisation
of over £1 billion.
Future's internet activities serve the PC, Mac, Games, Music and
Football communities in the US and the UK with fast-growing sites
like maximumpc.com, maximumpc.co.uk, dailyradar.com, intermusic.com,
and ufn.co.uk. Future's Web sites and Web networks provide rich,
community and information-based services to people in these and
related markets worldwide.
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