Product Launch

IBNet PLC
1 February 2001


IMMEDIATE RELEASE                                               1 February 2001


                                   IBNET PLC

               Launches SHAREDETEC at London Stock Exchange

          First product to protect against share abuse on the Internet

IBNet PLC, the Internet surveillance and monitoring company, floated on the
Alternative Investments Market ('AIM') in March 2000, is pleased to announce
the launch of Sharedetec. The product, the first of its genre, addresses the
threats the Internet poses to quoted companies through the misuse of Internet
bulletin boards. Today, at the London Stock Exchange, IBNet formally launched
Sharedetec to an audience of stock brokers, fund managers and journalists.

Sharedetec is the first product derived from IBNet's main service, Netdetec,
which uses advanced spidering and agent technology.  Other sub-brands IBNet
offers are Branddetec and Newsdetec, services  that are dedicated to
individual markets and their needs. Branddetec, currently being tested by
potential customers with a launch planned for later this year, searches the
Internet for all areas of brand, copyright and corporate reputation abuse.
Newsdetec is an on-line automated news monitoring service.  IBNet will
continue to launch more products throughout 2001, which the Directors believe,
will radically enhance IBNet both corporately and financially.

Abuse of Bulletin Boards and Chat Rooms

Whilst the Internet has opened up a world of opportunities it also has a very
dark side where fraudulent activity is rife. Stock Markets are particularly
susceptible to Internet abuse. The advent of Internet bulletin boards and chat
rooms has not only provided investors with a forum to discuss ideas and
opinions but has also opened the door to new types of fraud - share price
ramping, 'pumping and dumping' shares, reputation abuse and misinformation
have become every day occurrences.

As an example, Minmet, an Irish mining company, has been a high profile target
of such fraudulent activity.  The Company was forced to issue a press
statement acknowledging commentary on Internet Bulletin boards, some of which
was 'erroneous and misleading', after it had an devastating effect on its
share price.

Finding and Stopping the abuse

To date, the only solution for checking Internet abuse was to manually access
and monitor the bulletin boards and chat rooms, a lengthy and time consuming
task. Sharedetec is a unique, fully automated intelligent system which
actively monitors selected UK bulletin boards and financial media sites. The
Sharedetec system visits the bulletin boards and financial media sites every
hour around the clock searching for new stories and comments on listed shares.
Once content is identified the system alerts the user via their PC.

Sharedetec can provide Companies and all those involved in the financial
markets with continuous information allowing informed decisions to be made and
prompt remedial action is an option open to Companies and their advisors.
IBNet can also assist in identifying the originator of fraudulent information
and advise on the appropriate action to take.

Active Support for Sharedetec

The Sharedetec concept was developed hand in hand with Old Mutual Securities,
broker to IBNet plc, whose Market Making team and Corporate Brokers use the
system to monitor Internet commentary on their clients and the portfolio of
stocks in which they make markets. The system has received strong support from
the bulletin boards which are keen for the misuse of the sites to cease.

Today at the Sharedetec launch, Mark Ommanney, Chief Executive of IBNet plc,
said :

'IBNet has launched the first ever product which specifically addresses the
problem of share abuse on the Internet, an issue that is gaining more and more
prominence and causing alarm among all connected with the financial markets.
Our vision is that we will work together with the Bulletin Boards in order to
build up an elite group who will gain a reputation for carrying information
that is accurate and therefore of substantial value to potential investors,
brokers and fund managers alike.'

Edmond Warner, CEO of Old Mutual Securities, said :

'Gossip on Bulletin Boards moves share prices.  In a couple of months
Sharedetec has proved invaluable, turning a threat to our profitability into
an opportunity.'

Steven Philippsohn, of Philippsohn Crawford Berwald - specialists in
e-litigation, said :

'A financially crippling Internet scam has travelled across the Atlantic.
With recent research showing 88% of the UK's financial institutions are
unprotected against electronic fraud, the aptly named 'pump and dump' share
fraud could wreak havoc throughout the financial community.'

For further information, please contact :

IBNet plc
Mark Ommanney                                                     020 7629 7676
David Bickers                                                     020 8840 0040

Buchanan Communications
(Financial Public Relations)
Tim Anderson / Isabel Petre /
Catherine Miles                                                   020 7466 5000

GJA Ltd
(General Public Relations)
Fran Elkin / Melissa Edwards                                      020 8840 0040


Notes to Editors

IBNet

IBNet floated on the Alternative Investment Market ('AIM') of the London Stock
Exchange in March 2000 and is currently trading at 81.5p.  (This is above its
issue price of 55p, and IBNet is one of only three technology companies which
floated in the first  quarter of last year to have ended 2000 in this
position).  IBNet provides continuous surveillance of the Internet, using
sophisticated spidering technology, enabling companies to watch for activity
which could be damaging to them ranging from share price manipulation to the
sale of fake or stolen goods.