Results to 30 June 2000

IBNet PLC
25 September 2000


                        IBNET PLC
                            
            Preliminary Results Announcement
            For the period ended 30 June 2000


IBNet PLC, ('IBNet'), the Internet surveillance and
competitive intelligence gathering service, is pleased to
announce its maiden results since its flotation on the
Alternative Investment Market ('AIM') in March.

Key points :

* Turnover £14,000
     
* Loss before tax £595,000

* Cash balance of £4 million

* Rebranding of product range - Netdetec

* Major clients signed
            
     -Bayer - German-based multinational pharmaceutical
      company
     -A world class manufacturer of toys and games
     -Old Mutual Securities - institutional stock broker
            

* Marketing agreements signed with
       -ArmorGroup
       -Brand Experience
       -Chubb

David Heynes, Chairman of IBNet PLC, commented :

'IBNet has made giant strides. We have established it  as
a  commercially viable service. The infrastructure is  in
place and we have built awareness of our business and the
urgent  need it meets. We are all looking forward  to  an
exciting year in which the Company can begin to reap  the
rewards of all the hard work that has gone into launching
Netdetec  at  a  stage  when the importance  of  Internet
integrity is beginning to dawn.'
_________________________________________
For further information, please contact :

IBNet
Mark Ommanney, Chief Executive    01784 221 221
Buchanan Communications
Tim Anderson /Isabel Petre        020  7466 5000

Chairman's Statement

INTRODUCTION

As our first preliminary results since IBNet successfully
joined  the  Alternative  Investment  Market  ('AIM')  in
March,  this is a chance to take stock of progress. I  am
delighted  to say that we have come a very  long  way  in
this short time.

In  March the product was largely complete, but there was
much  to  do in terms of its branding, identification  of
target markets and establishing awareness of our service.
In addition we needed to build the infrastructure both in
terms  of resources and people and IBNet needed to  build
its  sales.  On  all  these counts  we  have  made  giant
strides.

IBNet  provides continuous surveillance of  the  Internet
enabling  companies to watch for activity which could  be
damaging to them. In this unregulated environment, abuses
are now commonplace, from share price manipulation to the
sale  of  fake  or  stolen goods.  IBNet's  sophisticated
spidering technology automatically monitors the  Internet
for  any  reference  to  a company which  its  executives
should be aware.

FINANCIAL RESULTS

The  financial results include only four full  months  of
trading  following the flotation on AIM when we  had  the
funds  to  build our infrastructure and begin  marketing.
The  escalation in our revenue, along with the growth  of
our client base, has taken place since the completion  of
our financial period to the end of June.

In  the period ended 30th June 2000, turnover was £14,000
and  the loss before tax, £595,000 which was in line with
our  budgets. The balance sheet showed a cash balance  of
£4  million  which  is more than ample  to  fund  working
capital until the Company moves into profitability.

The  Directors clearly cannot consider a dividend at this
stage of IBNet's development.

BUSINESS REVIEW

We   are  building  a  client  base  which  ranges   from
multinational    corporations    through    international
accounting  firms to insurance companies and banks.  Many
of  the customers are still in the start-up stage with us
and  others  are currently assessing how comprehensive  a
service they require.

Internet  security  is  a new area  of  concern  for  all
companies.  Initially, companies have to  go  through  an
education  process to appreciate that the problems  exist
at  all. Typically, once they appreciate the need for our
service, organisations find a fast escalating requirement
for our help. It then becomes a process of prioritisation
and   rationalisation.  This  can  be  a  fairly  lengthy
process,  but several months since we launched our  sales
drive, revenue is growing rapidly.

The    nature    of    client    relationships    demands
confidentiality.  Customers do not  want  their  concerns
made  public  as  it  would expose  them  to  competitive
pressures.  At other times our intelligence  can  provide
them  with  a  competitive  advantage  and  again  it  is
important to maintain confidentiality. However,  we  have
two  clients which have kindly agreed to us outlining why
they have chosen IBNet.

Bayer  AG,  the German-based multinational pharmaceutical
company  has  retained  IBNet  to  detect  sales  on  the
Internet  of  certain  of  its products  by  unauthorised
distributors   and  the  sale  of  products   which   are
erroneously said to be manufactured by Bayer. We  believe
this is a service which is applicable across the whole of
the global pharmaceutical industry.

Old  Mutual  Securities,  the institutional  broker,  has
retained  IBNet  to  monitor  the  manipulation  of   its
clients'  share  prices on the Internet. Commonly  called
pumping  and  dumping'  the  Internet  is  used  by  the
unscrupulous to drive share prices up or down via rumours
published on the Internet. Very often these rumours prove
to   be   entirely  fictitious.  Brokers  at  Old  Mutual
Securities  now  have  an  icon on  their  screens  which
flashes  if reference to one of their clients appears  in
designated  parts  of the Internet. We are  currently  in
discussions  with a number of companies and  institutions
which have similar concerns within the financial services
arena.

In addition, a world class manufacturer of toys and games
is  using IBNet to evaluate the extent of piracy  of  its
products on the Internet.

BRANDING

At  the time of our flotation we had developed the  Homer
brand,  but  have  subsequently  decided  to  rename  our
principal  product  Netdetec,  which  we  feel  is   more
evocative of the service we provide. This has also  given
us  the  opportunity to      develop sub-brands aimed  at
specific  markets  such as Sharedetec for  the  financial
services  industry  and Branddetec for the  multi-billion
dollar trademark and brand licensing industry.

MARKETING

In  April we signed a milestone marketing agreement  with
ArmorGroup, the global risk management services  division
of     Armor Holdings Inc. This has been followed by  two
more   cornerstone   marketing  agreements   with   Brand
Experience, which over 20 years has worked on some of the
most   prominent   global   brands,   and   Chubb,    the
international security company.

ArmorGroup   -  In  1999  it  was  included  in   FORTUNE
magazine's  list   of  'America's  100  Fastest   Growing
Companies'.  We  have  jointly  marketed  with  Armor  to
multinationals  in  the US and Europe  resulting  in  our
contract with Bayer. We are jointly in discussions with a
number  of  other  companies which we  are  confident  of
turning into orders.

Brand Experience - Its prominent role in most, if not all
branding issues  with a reputation and range of contacts,
has  proved  invaluable.  Brand  Experience  has  been  a
catalyst for the development of Branddetec.

Chubb  -  Our  most  recent  partnership  is  with  Chubb
Information  Security,  a  new  venture  from  the  Chubb
Security  Group. It has been established to  provide  its
existing customers with security on the Web.

Other   partnerships  are  being  discussed  with   major
accounting firms and global insurance companies.

Raising  our  profile generally has been very  important.
IBNet  and Netdetec were unknown this time last year.  An
energetic  programme  of attendance  at  conferences  and
exhibitions   has  built  awareness  and  has   generated
valuable sales leads.

We  have made over 200 presentations to companies  across
Europe.   Our  level  of  activity  has  begun  to  build
awareness  of the threats the Internet has brought.  This
is  supported by greater interest in the media  which  in
turn  is  leading  to  an increased  level  of  inquiries
regarding our service.

The  Report  and  Accounts include illustrations  of  Web
pages which detail abuses in one form or another of major
companies'  names  or brands which  have  been  found  by
IBNet.

It was important that we concentrated our sales resources
to maximum effect over the last few months to ensure that
our  sales  effort  was turned into  tangible  contracts.
Trademark  and  licensing and financial services  through
Branddetec  and     Sharedetec have  seen  maximum  focus
during  this  initial  phase.  However,  we  believe  our
service  has applicability across the commercial spectrum
and  as  resources permit, we will broaden our  marketing
efforts accordingly.


INFRASTRUCTURE

In  March  we operated from serviced offices in  Staines,
Middlesex. Since then we have established our own offices
in  Egham,  Surrey, which complement our sales office  in
Piccadilly, London.

We  have  recruited  a  dedicated sales  force  which  is
spearheading  our marketing programme. Elsewhere  in  the
Company  we  have  strengthened product  development  and
customer  support. However, we remain a lean organisation
with a tight control on overhead.

FUTURE PROSPECTS

In conclusion, since March, IBNet has made giant strides.
We  have established it as a commercially viable service.
The       infrastructure is in place and  we  have  built
awareness  of our business and the urgent need it  meets.
We  are all looking forward to an exciting year in  which
the Company can begin to reap the rewards of all the hard
work  that  has gone into launching Netdetec at  a  stage
when the importance of Internet integrity is beginning to
dawn.
I  would  like  to thank all my colleagues at  IBNet  for
their great enthusiasm and hard work. We look forward  to
the  year ahead with confidence, our aim being to achieve
profitability on a monthly basis before the year is out.

David Heynes
Chairman

22 September 2000
                                             2000
                                            £'000
                                                         
Turnover                                       14
Cost of sales                                   -
                                                         
Gross profit                                   14
                                                         
Administrative expenses                      (694)
                                                         
Operating loss                               (680)
Net interest                                   85
                                                         
Loss on ordinary activities before            
taxation                                     (595)         
                                                         
Tax on loss on ordinary activities             -
                                                         
                                                       
Loss on ordinary activities after taxation  (595)
deducted from reserves
                                                         
                                                          
Basic and fully diluted loss per share       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.
     
     
 IBNET PLC

CASH FLOW STATEMENT

FOR THE PERIOD ENDED 30 JUNE 2000



                            
     
                                                £'000
Fixed assets                                        
                                                    
Investment                                     21,976
Tangible fixed assets                             266
                                                    
                                               22,242
Current assets                                      
                                                    
Debtors: amounts recoverable in one year          228
Debtors: amounts recoverable in more than one   
year                                              564
Cash at bank and in hand                        4,044
                                                    
                                                4,836
                                                    
Creditors: amounts falling due within one year   (316)
                                                    
                                                    
Net current assets                              4,520
                                                    
                                               26,762
                                                    
Capital and reserves                                
                                                    
Called up share capital                        13,738
Share premium account                          13,619
Profit and loss account                          (595)
                                                    
Shareholders' funds                            26,762
                                                    
     
     
     
     
     
                                             £'000  £'000
                                                         
Net cash outflow from operating activities           (668)
                                                         
Returns on investments and servicing of                  
finance
Interest received                               86          
Interest paid                                   (1)         
                                                         
Net cash inflow from returns on investments              
and servicing of finance                               85
                                                         
Capital expenditure and financial investment             
Purchase of tangible fixed assets              169         
                                                         
Net cash outflow from capital expenditure           
and
financial investment                                 (169)                     
  
                                                         
Acquisitions and disposals                               
Net cash acquired with subsidiary                3           
                                                         
Net cash outflow from acquisitions and                 
disposals                                              3
                                                         
Net cash outflow before financing                   (749)
                                                         
Financing                                                
Issue of shares                              6,050       
Repayment of loan capital                     (594)       
Expenses paid in connection with share             
issues                                        (669)  
                                                         
Net cash inflow from financing                     4,787
                                                         
Increase in cash                                   4,038
    

1    LOSS PER SHARE

     The calculation of the basic loss per share is based
     on the loss attributable to ordinary shareholders
     divided by the weighted average number of shares in
     issue during the period.
     
     Reconciliation's of the loss and weighted average
     number of shares used in the calculations are set
     out below:
     
                                                       
Computation of loss per share:                         
                                                       
                                              Weighted  Amount
                                       Loss    average   pence
                                      £'000     number     per
                                                    of   share
                                                shares
                                                       
Basic and diluted loss per share                       
Loss attributable to ordinary          
shareholders                            595 38,530,543     1.5               
                                                       
     
     There was no dilutive effect of the options in place
     at 30 June 2000.
     
     
2    RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS

                                                    2000
                                                   £'000
                                                            
Increase in cash in the period                     4,038
Cash to repurchase debentures                        594
                                                          
Change in net debt resulting from cashflows        4,632
Debentures acquired with subsidiary                 (594)
                                                            
Net funds at 30 June 2000                          4,038


3  DIVIDEND
The  Directors  do not recommend the  payment  of  a
dividend.

4  The financial information set out  in  this 
announcement does not comprise    statutory
accounts of    the Company within the meaning of  Section
240  of the Companies Act. The statutory accounts for the
period  ended  30  June  2000  will  be  filed  with  the
Registrar of Companies in due course.

5 Copies of the statutory accounts are available 
from the Company's registered
office, 1 High Street, Egham, Surrey TW20 9EA.


              REPORT OF THE AUDITORS TO THE MEMBERS OF

     
     IBNET PLC
     
     We have audited the financial statements on pages 15
     to  28 which have been prepared under the accounting
     policies set out on pages 15 to 16.
     
     Respective   responsibilities   of   directors   and
     auditors
     
     The  directors  are  responsible for  preparing  the
     Annual  Report.   This includes  responsibility  for
     preparing  the  financial statements  in  accordance
     with  applicable United Kingdom law  and  accounting
     standards.   Our  responsibilities,  as  independent
     auditors,  are established in the United Kingdom  by
     statute,  the Auditing Practices Board  and  by  our
     profession's ethical guidance.
     
     We  report  to  you our opinion as  to  whether  the
     financial statements give a true and fair  view  and
     are   properly  prepared  in  accordance  with   the
     Companies  Act.  We also report to you  if,  in  our
     opinion,  the  directors' report is  not  consistent
     with  the  financial statements, if the company  has
     not  kept proper accounting records, if we have  not
     received  all  the information and  explanations  we
     require  for our audit, or if information  specified
     by   law   regarding  directors'  remuneration   and
     transactions with the company is not disclosed.
     
     We  read  the  other information  contained  in  the
     Annual  Report,  including the corporate  governance
     statement,  and  consider whether it  is  consistent
     with  the audited financial statements.  We consider
     the  implications for our report if we become  aware
     of    any   apparent   misstatements   or   material
     inconsistencies with the financial  statements.   We
     are  not  required to consider whether  the  board's
     statement  on internal control cover all  risks  and
     controls, or form an opinion on the effectiveness of
     the company's corporate governance procedures or its
     risks and control procedures.
     
     Basis of opinion
     
     We  conducted our audit in accordance with  Auditing
     Standards  issued  by the Auditing Practices  Board.
     An  audit includes examination, on a test basis,  of
     evidence relevant to the amounts and disclosures  in
     the  financial  statements.   It  also  includes  an
     assessment   of   the  significant   estimates   and
     judgements  made by the directors in the preparation
     of  the  financial statements, and  of  whether  the
     accounting policies are appropriate to the company's
     circumstances,  consistently applied and  adequately
     disclosed.
     
     We  planned and performed our audit so as to  obtain
     all  the  information  and  explanations  which   we
     considered  necessary in order to  provide  us  with
     sufficient  evidence  to give  reasonable  assurance
     that the financial statements are free from material
     misstatement,  whether  caused  by  fraud  or  other
     irregularity or error.  In forming our  opinion,  we
     also   evaluated   the  overall  adequacy   of   the
     presentation   of  information  in   the   financial
     statements.
     Opinion
     
     In  our opinion the financial statements give a true
     and fair view of the state of affairs of the company
     at  30 June 2000 and of its loss for the period then
     ended  and have been properly prepared in accordance
     with the Companies Act 1985.
     
     
     GRANT THORNTON
     REGISTERED AUDITORS
     CHARTERED ACCOUNTANTS
     LONDON THAMES VALLEY OFFICE
     SLOUGH