Disposal

Cube8 Group PLC
10 July 2001


Cube8 Group investee Planet Three closes

AIM-listed investment company The Cube8 Group plc today announces the closure
of web agency Planet Three, a company it holds a 70% stake in.

Planet Three has placed itself into voluntary receivership and made all 14
staff redundant, following a decision by Cube8 not to support the business
further.

This closure leaves The Cube8 Group with substantial stakes in 15 companies
ranging from delivery logistics company ByBox Holdings to online games company
Freeloader.com.

Cube8 acquired its 70% stake in Planet Three in August 2000 for £7,000 cash.
Since acquisition, Cube8 has provided funding to the business by way of
short-term loans and working capital. Most of this funding was in place at 31
December 2000 and other than the trading loss for the period to closure, there
is not expected to be any material impact on the consolidated Group accounts
for the current year.

Tim Dean-Smith, Cube8 Chairman, said: 'We bought Planet Three because it was
an agency having cashflow problems.  We felt it had potential to become a
profitable business and yield an income stream for Cube8.'

'Planet Three has suffered from the dramatic downturn in business which has
hit  most web agencies, and we could see no commercial logic in investing
further in the business.  We will focus our resources on the companies in our
portfolio which we believe still have the potential to deliver substantial
capital returns to Cube8.'

For further details please contact Paul Munford on 020 7479 2787 or
[e-mail]

NOTES TO EDITORS

Cube8 is a Technology, Media and Telecoms (TMT) investment company that
provides financial and intellectual capital to accelerate start-up and
early-stage businesses.

The Company's shares commenced trading on the Alternative Investment Market of
the London Stock Exchange (AIM) on 28 February 2000.