Cash Placing of Shares at £7.45 Each

Future Network PLC
24 March 2000



This  announcement is not for release, publication or distribution
in the United States, Canada, Australia or Japan or to US persons
                            
            The Future Network plc ('Future')
                            
Sale  of 14,454,540 ordinary shares ('Ordinary Shares') of 1 pence
of Future (the 'Existing Ordinary Shares') (the 'Cash Placing')

Summary

*   The  Future  Network plc, a leading publisher of video  game,
    home  computing and other specialist consumer  magazines  and
    internet web sites in Europe and the US, today announces  the
    proposed  sale  of 14,454,540 Ordinary Shares principally  by
    funds advised and managed by Apax Partners & Co. Ventures Ltd
    (the 'Apax Funds').  The placing price is £7.45;
    
*   In  view of the sale of the Existing Ordinary Shares  by  the
    Apax  Funds,  Barbara  Manfrey and Paul Fitzsimons  (who  are
    directors  of Apax Partners & Co. Ventures Ltd) have  decided
    to retire from the board as non-executive directors of Future
    following the Annual General Meeting in May;
    
*   Morgan Stanley & Co. International Limited is acting as  lead
    manager and bookrunner of the Cash Placing;
    
*   The Cash Placing is expected to complete on 31 March 2000.
    

Greg Ingham, Chief Executive of Future, commented:

'We  always knew that Apax would not be long term shareholders  in
Future,  but  we are grateful for the support they have  given  us
since  the buyout from Pearson in 1998.  We have achieved a  great
deal  since  that time and we are now a stronger and a  much  more
international  business  than we  were  two  years  ago.   We  are
confident   of  the  outlook  for  Future  and  look  forward   to
progressing the very exciting plans we have in place for the  year
ahead.'

The Cash Placing

Further  to  the  announcement made by Future on  20  March  2000,
Future  announces that the Apax Funds and a fund formerly  advised
and managed by Apax Partners  &  Co.  Ventures Ltd.  are proposing
to sell 14,454,540  Existing  Ordinary  Shares in the Cash Placing
which  sale  represents  all  but  a small  proportion  of  Apax's
remaining shareholding in Future retained for tax related reasons. 
Apax has been carrying out an orderly sell down of its  investment 
in Future, starting with the IPO in June, the follow-on  secondary
in October and this sale and it is  envisaged that Apax's residual 
holding will be sold in due course.

In  view  of the sale of the Existing Ordinary Shares by the  Apax
Funds,  Barbara Manfrey and Paul Fitzsimons (who are directors  of
Apax Partners & Co. Ventures Ltd) have decided to retire from  the
board  as  non-executive directors of Future following the  Annual
General  Meeting in May.  Future would like to thank  Barbara  and
Paul for their valuable contribution since 1998.

Details of the Cash Placing

Following  completion  of the marketing of  the  Cash  Placing,  a
placing agreement (the 'Placing Agreement') has been entered  into
between  the   sellers and  Morgan   Stanley &  Co.  International
Limited  ('MSIL').   Pursuant to this Placing Agreement  MSIL  has
agreed  to  procure  purchasers for, or failing  which  itself  to
purchase,  the  14,454,540 Ordinary Shares at a placing  price  of
£7.45  per  Existing  Ordinary  Share.   The  placing  price   was
determined  by agreement between the Apax Funds and  MSIL  in  the
light  of  the  last sales price for the Ordinary  Shares  on  the
Official List of the London Stock Exchange on 23 March 2000.

The  Cash  Placing is subject to certain conditions including  the
absence  of  any  breach of representation or warranty  under  the
Placing  Agreement  and  there being no  material  change  in  the
condition (financial or otherwise) or prospects of Future and  its
subsidiaries.   In  addition,  MSIL  may  terminate  the   Placing
Agreement at any time in certain circumstances.

For further information contact:

Morgan Stanley & Co. International Limited:  
John Hyman                                   020 7425 5000
                                             
Hogarth Partnership Limited:                 
                                             
James Longfield                              020 7357 9477
                                             


This   announcement  has  been  issued  by   and   is   the   sole
responsibility of The Future Network plc ('the Company')  and  has
been  approved  for the purposes of Section 57  of  the  Financial
Services  Act 1986 by Morgan Stanley & Co. International  Limited,
which  is  regulated in the United Kingdom by The  Securities  and
Futures  Authority  Limited.  Morgan Stanley &  Co.  International
Limited is acting for the Company  and  the  sellers of the shares
mentioned in  this announcement  and is  not  acting for any other
person in connection with the proposed  offer of  shares, and will
not  be   responsible  for  providing  to  any  other  person  the
protections   afforded  to  customers  of   Morgan  Stanley  & Co. 
International Limited or for providing advice in relation  to  the
proposed placing.

This  announcement does not form part of any offer of  securities,
or  constitute a solicitation of any offer to purchase securities.
The  information  contained  herein  is  not  for  publication  or
distribution  to  persons in the United States  of  America.   The
securities  referred  to herein have not  been  and  will  not  be
registered  under the US Securities Act of 1933, as  amended,  and
may  not  be  offered or sold without registration  thereunder  or
pursuant to an available exemption therefrom.

Notes to Editors:

The  Future  Network was founded in the UK in 1985.  Today  Future
publishes  122  magazines  worldwide  and  has  extensive   online
activities attracting over 4.6 million unique users and generating
over  56  million  page views per month.  Future  is  the  world's
fastest  growing major publisher; is a leading publisher of  video
games  and  home computing magazines in the UK, France, Italy  and
the US; and, ranks as the fourth largest magazine publisher in the
UK.   Future employs over 1,400 people in offices in Bath, London,
San  Francisco,  New  York, Paris, Milan,  Munich  and  Rotterdam.
Future  was floated on the London Stock Exchange in June 1999  and
has a current market capitalisation of around £1 billion.

Future's internet activities (FutureNet) serve the PC, Mac, Games,
Music  and  Football communities in the US and the UK  with  sites
like  maximumpc, macdaily, dailyradar, intermusic, and  ufn.co.uk.
Future's  websites and web networks provides rich,  community  and
information-based services to people in these and related  markets
worldwide.  The network model is simple, but effective:  aggregate
content  (from Future's own magazines and from other  sites  which
become  affiliated into the online networks) and provide  services
(such  as  e-commerce, auctions, e-mail and discussion forums)  to
build  high  traffic in concentrated areas that will be  of  great
value to marketers.