Preliminary Results

Web Shareshop (Holdings) PLC
18 October 2001



                     Web Shareshop (Holdings) Plc
                                                               18 October 2001


The Board announces the Group's results for the 18 months to 31 July 2001
which record an operating loss of  £1,181,547, offset by net interest of £
50,233, leaving a loss before taxation for the period of £1,131,314.   This
reflects mainly site development costs and servicing costs, professional
advice and business development costs.  It also reflects the fact that, owing
to market conditions, the Group has been unable to launch a Placings Club.  At
31 July 2001, the company had £725,097 cash in the bank, net current assets of
£632,477 and net assets of £673,407.


                     Consolidated Profit and Loss Account

                      for the period ended 31 July 2001

                                           18 month          12 month
                                             period            period           
                                              ended             ended           
                                            31 July        31 January           
                                               2001              2000
                                                  £                 £

Turnover                                      3,385                 -

Cost of sales                                  (824)                -
                                              _____             _____

Gross Profit                                  2,561                 -


Administrative expenses                  (1,184,108)          (45,245)
                                           ________             _____

Operating loss on ordinary activities    (1,181,547)          (45,245)

Interest receivable                          50,456                 -
Interest payable                               (223)                -
                                           ________             _____

Loss on ordinary activities before 
taxation                                 (1,131,314)          (45,245)
Tax on loss on ordinary activities                -                 -
                                           ________             _____

Loss on ordinary activities after 
taxation                                 (1,131,314)          (45,245)
                                                                                
                                            =======              =====

Loss per share
Basic and diluted                             (6.5p)            (1.9p)

                                            =======              =====



                          Consolidated Balance Sheet

                             as at  31 July 2001

                                            31 July          31 January
                                               2001                2000
                                                  £                   £

Fixed assets
Intangible assets                             9,000              14,400
Tangible assets                              31,930               3,642
Investments                                       -                   2
                                             ______               _____

                                             40,930              18,044

                                             ______               _____

Current assets
Debtors                                      62,454               4,639

Cash at bank and in hand                    725,097             368,355
                                             ______              ______

                                             787,551            372,994


Creditors: Amounts falling due within 
one year                                    (155,074)           (18,333)
                                            ________             ______

Net current assets                           632,477            354,661
                                             _______            _______

Total assets less current liabilities       673,407             372,705
                                            ========            =======



Capital and reserves
Called-up share capital                     197,791              67,050
Share premium account                     1,227,765             350,900
Profit and loss account                  (1,176,559)            (45,245)
Merger reserve                              424,410                   -
                                             ______              ______

Shareholders' funds - equity interest       673,407             372,705

                                             ======               =====



             Web Shareshop (Holdings) Plc:  Company Balance Sheet

                             as at  31 July 2001

                                                        2001                    
                                                           £

Fixed assets
Investments                                          144,140

Current assets
Debtors                                            1,283,433
                                                    ________

Net current assets                                 1,283,433
                                                    ________


Total assets less current liabilities              1,427,573

                                                     =======


Capital and reserves
Called-up share capital                              197,791
Share premium account                              1,227,765
Profit and loss account                                2,017
                                                    ________


Shareholders' funds - equity interests             1,427,573

                                                      ======


                Web Shareshop (Holdings) Plc and Subsidiaries

                       Consolidated Cash Flow Statement

                      for the period ended 31 July 2001


                                        18 month           12 month
                                          period             period
                                           ended              ended
                                         31 July         31 January             
                                            2001               2000             
                                               £                  £

Net cash outflow from operating 
activities                            (1,148,747)           (27,859)

Returns on investments and servicing 
of finance                                50,233                  -

Capital expenditure and financial 
investment                               (69,465)           (21,734)

Acquisitions and disposals                ______              _____


Cash outflow before management of liquid
resources and financing               (1,167,979)            (49,595)

Management of liquid resources          (700,562)                  -

Financing                              1,432,016             417,950
                                        ________               _____

(Decrease)/increase in cash in the 
period                                  (436,525)            368,355
                                         =======               =====