Holding in Company

Future Network PLC
21 February 2001


                 Notification of Substantial Interest in Shares

The Future Network plc (LSE: FNET), announced on 16 January 2001 that it had
received notification that Morgan Stanley Securities Limited held a notifiable
interest in 5,394,443 ordinary shares of The Future Network plc. On the basis of
the current issued share capital of The Future Network plc of 143,137,255
ordinary shares, this interest represented 3.77% of such share capital.

The Future Network plc received notification on 20 February 2001 from Morgan
Stanley Securities Limited, advising that Morgan Stanley Securities Limited had
effected transactions pursuant to which it had disposed of its interest in a
certain number of those ordinary shares. As a result thereof, as at 19 February
2001, Morgan Stanley Securities Limited no longer held a notifiable interest in
the Shares of The Future Network plc (as determined in accordance with Section
198 of the Companies Act 1985, as amended).



For more information:

Fob Day, Group Counsel
The Future Network plc                 01225 442244