Interim Results

IBNet PLC
23 March 2001


FOR IMMEDIATE RELEASE                                             23 March 2001

IBNet PLC

                         Interim Results Announcement

                  For the six months ended 31 December 2000


IBNet PLC, the Internet surveillance and competitive intelligence gathering
service, is pleased to announce its Interim Results for the six months ended
31 December 2000.


Key Points:

*         Client numbers up four-fold


*         Majority of customers signed early 2001,from the following sectors:
           *   News and data provision
           *   Telecommunications
           *   Broadcasting, Music and Entertainment
           *   Financial services and banking
           *   Logistics and secure transportation
           *   Engineering
           *   Professional services


*         Sales for the Interim period up to £108,000
           *   771% growth over year to June 2000


*         Sales Growth confirmed in 3rd quarter
           *   Total sales up to date £224,000


*         October 2000 -principal service launched: Netdetec


*         3 branded products created from principal service, addressing niche
          markets:
           *   Branddetec, Sharedetec, Newsdetec


*         February 2001 - Sharedetec launched at London Stock Exchange
           *   First product to protect against share abuse on theInternet


*         Cash resources at £3.1 million


*         2001 - launch of further products


David Heynes, Chairman of IBNet PLC, commented :


'IBNet made great strides during the first six months of our financial year.
We continued development of the software of our core service, created three
branded products for niche markets, built infrastructure, recruited essential
personnel and invested in hardware in a secure co-located site. Yet more
significant than all these essential achievements was our sales success.


'IBNet has demonstrated that its products are not only technologically
advanced but they are also visionary and very much in demand. Our priority
during the second half of the year is to grow our client base rapidly.'

___________________________________________________________________________

For further information, please contact :
IBNet plc                                                         01784 221 221
Mark Ommanney, Chief Executive
Buchanan Communications                                           020 7466 5000
Tim Anderson / Isabel Petre


Chairman's Statement

March 2001


IBNet made great strides during the first six months of our financial year. We
continued development of the software of our core service, created three
branded products for niche markets, built infrastructure, recruited essential
personnel and invested in additional hardware in a secure co-located site.
Yet more significant than all these essential achievements was our sales
success.


IBNet addresses an emerging market based on the Internet. Many companies are
unaware of the potential threats and problems to brand and reputation posed by
the Internet. Some are aware and doing nothing, whilst others are taking
tentative steps only to find that the two billion pages are impossible to
monitor manually. IBNet's automated systems allow individuals in organisations
to assume responsibility and take positive action.


During the six months to 31st December 2000 and immediately after, we have
signed up a number of clients with world wide reputations in a variety of
business areas, including:


*          News and data provision

*          Telecommunications

*          Broadcasting, Music and Entertainment

*          Financial services and Banking

*          Logistics and secure transportation

*          Engineering


Tantalisingly for those outside IBNet and frustratingly for those in it, we
cannot name most of our customers for client confidentiality reasons. Some
prefer anonymity to give them a competitive edge. Others need IBNet to protect
them against the extremes of the Internet. IBNet provides a highly efficient
and economic means of monitoring web sites and chat rooms, hot beds of
opinion, which can influence business growth and reputation.


 To return to the bigger picture, sales are buoyant, but it is still early
days. Most of our customers were not signed up until December or early in
2001. Significant income therefore will not be seen until the second half of
the year and even then the most instructive statistics will be the rising run
rate month by month.


Our core product, Netdetec has been targeted at large companies which need to
monitor the Internet. The decision making process within large organisations
means that individualsales can take several months.  The sales cycle has been
more lengthy than originally anticipated, but given this background, our sales
achievements have been encouraging.


New Products


While developing Netdetec, we also set about creating three niche branded
products using our technology and  aiming at specific markets:

*         Brandetec for the protection of brands. This is of enormous
          importance to companies whose global brands  represent a large        
          percentage of the overall worth of their business.

*         Newsdetec for monitoring breaking news, chat rooms and fan based
          communities.

*         Sharedetec designed for stock market professionals and listed
          companies who need to keep a close track on Internet Bulletin boards  
          and Financial news.


In early 2001 we concentrated on a major product launch for Sharedetec at the
London Stock Exchange.  The launch was a great success, well-attended  by
representatives of the press, together with City professionals drawn from an
impressive range of financial institutions.


Sharedetec has caught the imagination of the City and City press as share
manipulation on the Internet is known to be a growing and dangerous problem.
Sharedetec provides a practical, economic and convenient means of keeping
constant track of comments on individual equities. The product has been
carefully developed and priced to appeal to both financial institutions and
individual companies through a structure tied to the number of equities
monitored.


Our Branddetec and Newsdetec products have enormous potential, generating
substantial interest and, importantly, customers as a result of our appearance
at the Brand Show in London in October and our continuing editorial presence
in relevant trade press.


Infrastructure and Product Development


The development of one service could be seen as a considerable achievement. To
complete Netdetec while simultaneously creating Brandetec, Newsdetec and
Sharedetec, is a remarkable feat. I would like to congratulate all those in
our technical area for this extraordinary contribution.


The process was helped by the increase in staff from 15 to 20 in the second
half of 2000. The new personnel have increased our capacity in the areas of
technical product development, customer support, sales and marketing.
Recruitment however was a significant cost  which we had to incur during this
period. We have also invested in additional hardware now installed at a
co-located secure site.


Financial Performance


As I said above, most of the contribution from recent sales will not be
evident until the second half of the financial year.  Sales rose to £108,000
compared with £14,000 for the whole of the year to June 2000.  During the
first 3 months of the second half of our financial year total sales have
increased to £224,360. Losses increased to £860,358 from £595,000 at the year
end reflecting the increased level of manpower.  The cash balance at 31st
December 2000 was still £3.1 million having paid for these costs and capital
expenditure. We anticipate the decline in cash will slow from now on as income
rises.


Board Appointment


In November 2000 Michael Atkinson joined the Board as Sales Director.  I
welcome him to the Board and look forward to his continuing valuable
contribution to IBNet's growth.


Future


Over the six months and into 2001, IBNet has demonstrated that its products
are not only technologically advanced but they are also visionary and very
much in demand. Our priority during the second half of the year is to grow our
client base rapidly. I am confident of our ability to generate a significant
level of sales this year. We have already sold our service to clients overseas
and when appropriate we will establish operations in other countries.


IBNet has achieved a remarkable amount in a very short time. I would like to
congratulate and thank all our team. We have exciting times ahead.


                                                6 months ended     Year ended
                                                   31 Dec 2000   30 June 2000
                                                         £'000          £'000

Turnover                                                   108             14
Cost of sales                                                6              -

Gross profit                                               102             14

Administrative expenses                                (1,074)          (694)

Operating loss                                           (972)          (680)
Net interest                                               112             85

Loss on ordinary activities before                       (860)          (595)
taxation                                                       

Tax on loss on ordinary activities                           -              -

Loss on ordinary activities after taxation               (860)          (595)
deducted from reserves

Basic and fully diluted loss per share                    1.6p           1.5p



There are no other recognised gains or losses other than the loss for the
period.

All operations are continuing and were acquired in the period.


                                            6 months ended       Year ended
                                               31 Dec 2000     30 June 2000
                                                     £'000            £'000
Fixed assets

                                 Investment         21,976           21,976
                      Tangible fixed assets            314              266

                                                    22,290           22,242

                             Current assets

   Debtors: amounts recoverable in one year            185              228
  Debtors: amounts recoverable in more than            564              564
                                   one year
                   Cash at bank and in hand          3,072            4,044

                                                     3,821            4,836

  Creditors: amounts falling due within one          (208)            (316)
                                       year

                         Net current assets          3,613            4,520

                                                    25,903           26,762

                       Capital and reserves

                    Called up share capital         13,738           13,738
                      Share premium account         13,619           13,619
         Profit and loss account at 30 (594)
                             June 2000
                 Losses for the period (860)
                    Profit and loss account        (1,454)            (594)

                        Shareholders' funds         25,903           26,761


                                            6 months ended       Year ended
                                               31 Dec 2000     30 June 2000
                                                     £'000            £'000
           Net cash outflow from operating
                               activities:

                            Operating Loss           (972)            (680)
                              Depreciation              51               19
            Decrease/(Increase) in debtors              43            (187)
            Decrease/Increase in creditors           (108)              180

                                                     (986)            (668)


           Net cash inflow from returns on             112               85
                                investment
             Net cash outflow from capital            (98)            (169)
                               expenditure
                          Decrease in cash           (972)            (752)



1.       BASIS OF PREPARATION

The interim financial statements have been prepared in accordance with
applicable accounting standards and under the historical cost convention.


The principal accounting policies of the company have remained unchanged from
those set out in the company's annual report and financial statements 2000.


2.       LOSS PER SHARE

The calculation for the basis loss per share is based on the loss attributable
to ordinary shareholders divided by the weighted average number in issue
during the period.


Computation of loss per share:
                                                    Weighted
                                                     average            Amount
                                           Loss    number of             pence
                                          £'000       shares         per share

Basic and diluted loss per share
Loss attributable to ordinary               860   54,952,000               1.6
shareholders

3.       RESULTS

The results for the six months ended 31 December 2000 are unaudited and do not
constitute statutory accounts within the meaning of Section 240 of the
Companies Act 1985.

4.       DIVIDENDS

The directors are not declaring an interim dividend.

Copies of the report will be sent to the shareholders shortly and will be
available to the members of the public from the company's registered office at
11 High Street, Egham, Surrey, TW20 9EA.