Corporate Action

Internet Music & Media PLC
17 July 2001

CAPITAL REORGANISATION
SECURITY TITLE
*Ord Shs
MNEMONIC CODE   *IMM
SEDOL CODE      *852-836
TERMS           *The company is proposing to subdivide and redesignate the      
                 existing shares into one new ordinary share of 1p and one      
                 deferred share of 24p.
PROVISIONAL EFFECTIVE DATE *13-08-01
NOTES * The effective date for the Capital Reorganisation is subject to approval
at the EGM.