Holding in Company

Future Network PLC
19 November 2001


                        THE FUTURE NETWORK plc

              Notification of Substantial Interest in Shares

The Future Network plc ('the Company') announced on 2 November 2001 that Morgan 
Stanley Dean Witter & Co was interested in 35,639,148 ordinary shares of 1p each
in the capital of The Future Network plc, representing an interest in 24.65% of 
the relevant share capital of the Company. The interests in shares notified 
included a security interest in 32,655,538 shares granted to Morgan Stanley & 
Co. Inc in connection with a loan, repayable on demand, made on 28 and 29 
February 2000.

The Future Network plc received notification on 19 November 2001 that:

1) As at 14 November 2001, following the acquisition of an interest in shares in
   the company by Morgan Stanley Securities Limited ('MSSL'), Morgan Stanley    
   Dean Witter & Co's interest for the purposes of the Companies Act 1985 (the  
   'Act') (being an interest as a result of the application of section 203 of   
   the Act) increased to an interest in 41,606,274 shares representing          
   approximately 13.39% of the relevant share capital (including 32,655,538     
   shares in which it was interested pursuant to a security interest granted to 
   Morgan Stanley & Co Inc in connection with a loan repayable on demand, made  
   on 28 and 29 February 2000).

2) As at 15 November 2001, following the settlement of the sale under a Placing 
   Agreement entered into between Morgan Stanley & Co International Limited on  
   28 September 2001, of 10,050,000 Future shares which were owned by Chris     
   Anderson :

a) Morgan Stanley & Co Inc's interest for the purposes of the Act reduced to an 
   interest in 22,605,538 shares in the Relevant Share Capital, which it remains
   interested in pursuant to the security interest referred to above,           
   representing approximately 7.27% of the Relevant Share Capital; and

b) Morgan Stanley Dean Witter & Co's interest For the purposes of the Act also  
   reduced to an interest in 31,556,274 shares in the Relevant Share Capital of 
   the Company representing 10.16% of the Relevant Share Capital.

3) Morstan Nominees Limited is the registered holder of 22,605,538 of the       
   shares. The identity of the registered shareholder(s) of the remaining shares
   is not known.

Morgan Stanley have notified the Company that they expect to make a further 
notification following the issue to placees 7,128,663 new Future shares 
representing the rights not taken up by shareholders under the rights issue and 
the settlement of the sale of 12,000,000 supplemental sale shares under a 
Supplemental Placing Agreement entered into between Morgan Stanley & Co, 
International Limited and Chris Andersen on 9 November 2001, pursuant to which 
agreement Morgan Stanley & Co International Limited agreed to procure purchasers
for an additional 12,000,000 shares in the capital of Future winch were owned by
Chris Andersen.

For more information:

Rob Day, Company Secretary 
The Future Network plc                    0207 533 2988