Offer Update

NewMedia SPARK PLC
25 September 2001

25 September 2001

NewMedia SPARK plc Announces Completion of Subsequent Offering Period for
GlobalNet Financial.com

NewMedia SPARK plc (LSE: NMS) ('SPARK') today announced the expiration of the
subsequent offering period to the previously announced cash tender offer by
GlobalNet Acquisitions Inc. (a wholly owned subsidiary of SPARK) to purchase
all of the outstanding shares of common stock and class A common stock of
GlobalNet Financial.com, Inc. (Nasdaq: GLBN; LSE: GLFA) ('GlobalNet') at a
price of $0.45 per share of common stock and $0.045 per share of class A
common stock, net to the seller in cash, without interest thereon.

The subsequent offering period to the tender offer expired, as scheduled, at
5:00 p.m. New York City time on Friday, September 21, 2001. Based on
information provided by The Bank of New York, who is acting as the depositary
for the tender offer, a total of 18,378,983 shares of GlobalNet common stock
and 27,461,789 shares of GlobalNet class A common stock were validly tendered
in the original tender offer and the subsequent offering period, representing
approximately 84% of the combined voting power of GlobalNet.

As previously announced, GlobalNet Acquisitions intends to exercise its option
to purchase additional shares of GlobalNet common stock so that following such
exercise GlobalNet Acquisitions will own shares representing 90% of the
combined voting power of GlobalNet. After exercising such option, SPARK
intends to complete the merger of GlobalNet Acquisitions with and into
GlobalNet under Section 253 of the Delaware General Corporation Law and
thereby acquire all remaining shares of common stock and class A common stock
which have not been tendered.

SPARK intends to send stockholders of GlobalNet who did not tender their
shares in the tender offer instructions as to how to receive the merger
consideration of $0.45 per share of common stock and $0.045 per share of class
A common stock or perfect appraisal rights under Delaware law. No further
action is required by the remaining stockholders of GlobalNet to effect the
merger.

The terms of the offer and other relevant information are available through
public filings made by GlobalNet Acquisitions Inc. (a wholly owned subsidiary
of NewMedia SPARK) and GlobalNet at http://www.sec.gov.

The information agent for the tender offer is MacKenzie Partners, Inc. For
additional information please contact MacKenzie Partners, Inc. at (800)
322-2885 (calling from inside the United States) or 00 800 3222 8851 (calling
from outside the United States). The tender offer statement and the
solicitation/recommendation statement and these other documents may also be
obtained by GlobalNet stockholders without cost to them from MacKenzie
Partners, Inc.

The tender offer statement (including an offer to purchase, letter of
transmittal and related tender offer documents) and the solicitation/
recommendation statement filed with the SEC contain important information,
which should be read carefully before any decision is made with respect to the
offer. GlobalNet stockholders may obtain a free copy of the tender offer
statement and the solicitation/recommendation statement and other documents
filed by GlobalNet Acquisitions Inc. and GlobalNet with the SEC at the SEC's
Web site at www.sec.gov. The tender offer statement and the solicitation/
recommendation statement and these other documents may also be obtained by
GlobalNet stockholders without cost to them from MacKenzie Partners, Inc.

Contacts:

Joel Plasco - NewMedia SPARK plc [phone]