Further re Acquisition

IBNet PLC
18 January 2002

                                  IBNET PLC

          ACQUISITION OF WEBGRAVITY LIMITED AND ADMISSION OF SHARES



Further to the announcement on 3 December 2001 of the acquisition
('Acquisition') by IBNet plc ('IBNet' or 'the Company') of Webgravity Limited
('Webgravity'), the Company announces that the shareholder approval required
to effect the Transaction was received on 7 January 2002.

The remaining conditions of the Acquisition have now been agreed.
Consequently, the 20,000,000 shares forming part of the consideration have
been allotted and application has been made for these shares to be admitted to
trading on the Alternative Investment Market of the London Stock Exchange.
Dealings are expected to commence on January 24th.

                                   - ends -

Date: 18 January 2001

For further information contact:

IBNet PLC                     City Profile Group

David Heynes, Chairman        Ed Senior

Toby Smallpiece, CEO          Simon Courtenay

020-7499-1400                 020-7448-3244

web: www.ibnetplc.com         e-mail: [e-mail]