Interim Results

Web Shareshop (Holdings) PLC
31 January 2001

FOR IMMEDIATE RELEASE

WEB SHARESHOP HOLDINGS PLC

INTERIM REPORT - EIGHT MONTHS TO 30 SEPTEMBER 2000

MANAGEMENT COMMENTARY


Highlights

Since being admitted to the Alternative Investment Market in September 2000,
Web Shareshop (Holdings) plc ('the company') has focused on creating the
Placings Club, which will be the mechanism through which private investors
will be able to participate in new issue placings alongside City institutions.
Other revenue streams will follow, but at this early stage it is essential
that our small team concentrates on the main objective.  Launched
successfully, we are confident that the Placings Club will enable the company
to achieve a distinct and profitable niche in the investment arena.

It is worth noting that we already have over 600 prospective members of the
Placings Club among our shareholders, of whom 99% own the minimum qualifying
number of 7,000 shares, or more.  This illustrates how important participating
in placings is to private investors.

I am pleased to report in my first statement since becoming chairman that we
have made good progress towards key development objectives.  The application
for category A1 registration through the PIA is proceeding and we are hopeful
that it will be granted in time for a planned launch of the Placings Club in
April 2001.

The website is being redeveloped to enable private investors to apply for
membership of the Placings Club online and subsequently to commit funds to
Placings online.  We are also making design changes to the website to
encourage greater visitor interest and loyalty.

Prospects

The marketing of the Placings Club will be achieved in conjunction with a
number of marketing partners in the publishing and financial sectors.  It will
be preceded in March by research among our shareholders to ascertain their
reactions to aspects of the marketing package and to enable us to make the
package as attractive as possible.

Concurrently with our marketing to private investors, we will be targeting key
sponsors of placings with a view to having access to quality offerings
throughout 2001 and 2002.  We are already holding preliminary discussions with
sponsors.



Results



Results for the 8 months to 30 September 2000 record an operating loss of  £
540,000, offset by interest of £14,000, leaving a loss before taxation for the
period of £526,000.  This reflects mainly site development costs, professional
advice and business development costs.



At 30 September 2000, the company had £1,258,000 in cash in the bank, net
current assets of £1,157,000 and net assets of £1,239,000.



Funding will be more than adequate for the launch and initial marketing of the
Placings Club, and to meet the capital adequacy requirements of the PIA.  We
are keeping overheads to a minimum.



No dividends have been proposed for the period.



Board changes



A number of board changes were made in December 2000 to prepare the company
for the marketing phase.  Bill Jackson was appointed as Chairman and Chief
Executive, replacing, respectively, John McNair and Andrew Neubauer.  Bill
Jackson has a strong marketing and management background.  He was also
co-owner of the financial website, MoneyWorld, which he and his partner sold
at the end of 1999.



Andrew Neubauer remains as technical director.  John Woolgar, whose vision led
to the launch of Web Shareshop, also resigned from his role of Development
Director.  John will continue to work closely with Bill Jackson on the
marketing of the Placings Club to private investors, marketing partners and
sponsors.



CONSOLIDATED PROFIT AND LOSS ACCOUNT


PRIVATE                                               8 months to    Year ended

                                                30 September 2000    31 January

                                                        Unaudited          2000

                                    Note                    £'000       Audited

                                                                          £'000


Group establishment expenses                                  (4)           (5)
Group administrative expenses                               (536)          (40)


Group operating loss - continuing
operations                                                  (540)          (45)
                                                            


Group interest receivable                                      14             -


Loss on ordinary activities before
taxation                                                    (526)          (45)
                                                            
Tax on loss on ordinary activities                              -             -


Loss on ordinary activities after
taxation                                                    (526)          (45)
                                                            

Dividends - on equity shares                                    -             -


Retained loss for the period                                (526)          (45)


Loss per share                        2                                       
                                                               p               p
Basic and diluted                                           (3.5)          (1.9)

                                           


CONSOLIDATED BALANCE SHEETS




                                                            At               At

                                                  30 September       31 January
                                                          2000
                                                                           2000
                                                     Unaudited
                                                                        Audited
                                                   £'000                  £'000

Fixed assets
Intangible assets                                           12               14

Tangible assets                                             70                4

                                                            82               18

Current assets

Debtors                                                     27                5
Cash at bank and in hand                                 1,258              368

                                                         1,285              373
Creditors: Amounts falling due within one                (128)             (18)
year

Net current assets                                       1,157              355

Net assets                                               1,239              373


Capital and reserves
Called up share capital                                    196               67
Share premium account                                    1,189              351
Merger reserves                                            425                -
Profit and loss account                                  (571)             (45)

Equity shareholders' funds                               1,239              373





RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS


PRIVATE                                            8 months to       Year ended

                                                  30 September       31 January
                                                          2000
                                                                           2000
                                                     Unaudited          Audited
                                                               
                                                         £'000            £'000
                                                                          

Total recognised losses relating to the                  (526)             (45)
period
Net proceeds of share issues                             1,392              418

Increase in shareholders' funds                            866              373
Opening shareholders' fund                                 373                -

Closing shareholders' funds                              1,239              373



1.         BASIS OF ACCOUNTING

Web Shareshop (Holdings) plc was incorporated on 20 April 2000, and no trading
activity was undertaken between that date and 31 May 2000. On 31 May 2000, Web
Shareshop (Holdings) plc acquired 100% of the share capital of The Web
Shareshop Limited and its subsidiaries by way of a share for share exchange.

The consolidated financial statements have been prepared using merger
accounting.  Under merger accounting the results and cash flows are combined
from the beginning of the financial period and all comparatives are restated
on the combined basis.  These interim financial statements consolidate the
financial statements of Web Shareshop (Holdings) plc, The Web Shareshop
Limited and its subsidiaries as though they had been in existence with its
present constitution.

The first reporting period of the company is to be the 18 months ending 31
July 2001.

The interim financial statements cover the eight month period to 30 September
2000, as the last results reported were the financial statements for The Web
Shareshop Limited for the year ended 31 January 2000 included in the
prospectus for the Offer for Subscription for shares in Web Shareshop
(Holdings) plc and its admission to the Alternative Investment Market.  The
year end for the Group is 31 July and hence a further interim report will
cover the four month period to 31 January 2001.



2.         LOSS PER SHARE


PRIVATE                                              8 months to     Year ended
                                               30 September 2000     31 January
                                                       Unaudited           2000
                                                           £'000        Audited 
                                                                          £'000
                                                           
                                                                    
                                                                       

These have been calculated on                              (526)           (45)
losses of


The weighted average number of shares used was:
Basic                                                    14,830,007   2,369,072




            There were no diluting factors in the period.

3.         INTERIM REPORT

            This interim report was neither audited nor reviewed by the
auditors.  It was approved by the Board on 30 January 2001.  It has been
prepared using accounting policies that are consistent with those adopted in
the statutory accounts for the year ended 31 January 2000 by The Web Shareshop
Limited and its subsidiary undertakings, and those to be adopted in the
statutory accounts for the Group for the period ending 31 July 2001.