Corporate Action

Internet Music & Media PLC
15 August 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  *16-08-01
NOTES* The effective date for the Capital Reorganisation is subject to approval
at the EGM