Response to Press Reports re Internet Investment

United Energy PLC
17 January 2000


The  Board of Directors of United Energy notes the speculation caused by press
reports  that the Company could be used as an investment vehicle for  internet
ventures.

The  Board confirms that suitable acquisitions are being looked for, but  that
these  acquisitions may be sourced from sectors other than the  internet.  The
current  net  asset value of the Group remains in the region of 10  pence  per
share.

Enquiries:   Nick Tamblyn, Chief Executive - 01242 253773