SFA Regulatory Approval

NewMedia SPARK PLC
11 April 2000

                              
         NewMedia SPARK plc/GlobalNet Financial Inc.
                              
       EO, OBTAINS FIRST SFA REGULATORY APPROVAL FOR A
        EUROPEAN ON-LINE RETAIL DISTRIBUTION PLATFORM
                    FOR EQUITY OFFERINGS.
        CO-HEAD OF GLOBAL CAPITAL MARKETS FROM LEHMAN
                  TO BECOME CHIEF EXECUTIVE

NewMedia  SPARK  plc  (NMS) and  GlobalNet  Financial  Inc
(GN)  today announce that EO (www.eo.net), the  Electronic
offering  platform  for distribution  of  equity  &  equity-
related securities to retail investors via the internet, has
gained regulatory approval from the SFA to conduct business.
NMS  and  GN have assisted in the development of EO and  own
significant equity stakes and options in it.

EO  is  the  first and, to date, only UK company to  receive
specific  approval from the (SFA) to conduct  this  type  of
business.  EO aims to rapidly expand internationally  within
the  next  12  months.  The site will launch on Monday  17th
April  2000,  offering private investors the opportunity  to
invest  online in IPOs secondary offerings and, ultimately,
in  private  placements for early stage companies.   EO  has
invested   in  a  highly  secure,  scaleable  and  resilient
infrastructure to ensure a high quality and robust service.

Simultaneous to this announcement John St John, formerly Co-
Head  of  Global  Equity Capital Markets at Lehman  Brothers
will become Chief Executive Officer of EO.

It is intended that EO will become the premier online retail
distribution platform which can be used by a wide variety of
Investment banks, brokers, VCs and other intermediaries  to
complement their institutional distribution platforms.

EO benefits from an arrangement with GN to be the provider of
new   issue  product  on  its  financial  services   websites
worldwide.   GN is currently the largest on-line provider  of
financial information in Europe, registering in excess of  30
million  page  views per month globally.   It  has  exclusive
rights   to   provide   specified  financial   services   and
information  to the two largest ISPs in Europe, World  Online
and  Freeserve.   It  has offices in and  operates  financial
portals  in  the US (America-invest), UK (UK-invest),  France
(Fr-invest),   Italy   (Italy-invest),  Netherlands   (Neder-
invest),  Denmark  (Denmark-invest)  and  expects  to  launch
shortly in Sweden, Germany and Norway.

In  addition EO benefits from an exclusive arrangement  with
NMS  to  be the sole retail distributor of all future equity
offerings  to  come out of NMS.  NMS is Europes  first  and
largest quoted internet incubator.  Off-line investors  will
be  managed  by an investment bank or stockbroker  as  lead-
manager to the issue.  Where the IPO is initiated by an Off-
line  broker,  EO  will  provide the private  share  placing
capability.

As  part of its service to customers, EO is launching an on-
line information service which will report on and comment on
pre-IPO  markets.   The  service  headed  by  Chris   Price,
formerly  Chief  Internet  Correspondent  at  the  Financial
Times.

Investors  wanting to trade shares in the  secondary  market
will  be  able to click into Global Net which is the leading
financial portal in Europe, in due course.

Mike Whitaker, Chairman of EO said:

'This  is a watershed in the development of European  equity
markets.  For the first time private investors will  have  a
low-cost,  fast and efficient means of investment  in  IPOs
and private placements.'

John St John, Chief Executive of EO said:
'The  great  attraction of EO is its parentage  -  GlobalNet
Financial guarantees the largest volume of eyeball traffic -
in  excess  of 30 million pageviews per month for  financial
information and services in Europe and is rapidly growing in
the  US.   NewMedia  SPARK guarantees a flow  of  investment
opportunities   from  Europes  first  and  largest   quoted
internet incubator.  So, EO represents an ideal platform for
both  retail  investors  on one side and  investment  banks,
brokers  and  issuers  on the other.   EO  already  has  its
technology,  management, offices and regulatory approval  in
place.'


For further information, please contact:

NewMedia SPARK / EO
Michael Whitaker / John St John         Tel No: 0207 851 7777
Buchanan Communications
Tim Anderson                            Tel No: 0207 466 5000