Interim Results

Cube8.com PLC
22 August 2000

                                Cube8.com plc                                 
                                                                              
            Interim Results for the six months ended 30 June 2000             

The Interim Results for Cube8.com plc, the technology, media and telecom
incubation and investment company that also provides strategic management
consulting and technology services, are announced today.  The Company was
admitted to the Alternative Investment Market on 28 of February, raising £9.5
million, net of expenses. 


Highlights

* 13 investments to date, one pending

* £7m cash remaining at 30 June 2000 

* Brian Hindson appointed as Chief Executive Officer 

* Ongoing strategy - business activities to have 3 areas of focus

* Investment scope extended to telecoms, media & other technology

* Target for operating break-even by June 2001


Tim Dean-Smith, Chairman and Chief Executive said: 'Cube8 is well set to
weather volatility in the stock market without needing recourse to further
fund raising.  The Company has a strong management team, which has the
contacts, skills and hands-on experience enabling it to add value to investee
companies.  The Company also has a portfolio which is making good progress and
which contains a good diversification of investment.  I believe that the
prospects for Cube8 are extremely promising, and I look forward to reporting
at the end of the year on the Company's further progress.'

Enquiries:
Tim Dean-Smith
Cube8.com plc                                   Tel: [phone]

Issued by:
Julian Bosdet / Henry Harrison-Topham
Bankside Consultants Limited                    Tel: [phone]


Chairman's Statement

Summary of operations

Cube8 was admitted to the Alternative Investment Market on 28 February this
year, raising £9.5 million, net of expenses.  The Company has completed the
six investments detailed at the time of the initial offering, and has made a
further seven investments to date.  One further investment is currently
pending, subject to successful completion of due diligence.

Investment portfolio

Overall, the thirteen companies in the portfolio are making good progress. I
will mention some key points here, and there is detailed information in this
document on each of the investments in the Company's portfolio.

Dynamid has raised further funds at a price 50% higher than the price at which
Cube8 invested.  The Unmissable.com site went live at the end of May, and has
been generating revenues since then.  TaoTalk has grown its user base to in
excess of 80,000, on very low marketing spend.  Blue Carrots has 120,000
registered users, as against 25,000 at the beginning of March this year, and
again, the user acquisition cost has been extremely low.  

Prizescratch has signed an important contract with Future Publishing, which
will ensure significant further distribution of its scratchcard games, and we
expect Prizescratch to be profitable in the year ending 31 March 2001.  PVC PR
has been profitable in its first 3 months of operation.    

Harden's has signed important distribution agreements, including exposure on
the Vodafone mobile portal.

The Project Boris shopping engine is behind schedule due to programming delays
following specification additions, but I anticipate that the beta version will
be live by October, in time for the important Christmas shopping season.

Cash position

As at 30 June, Cube8 had £7 million cash at the bank. Allowing for 2
additional investments completed since then, one further investment pending
and funds allocated for additional investment in existing portfolio companies,
there are approximately £5 million of unallocated cash reserves as at 22
August.

Cube8 therefore operates from a strong financial base.  Without further
investments the Company has cash reserves to cover the running costs of the
business for more than three years.

Board appointment

The business has grown substantially since February, and to reflect this
development I am pleased to announce today that the Board has appointed Brian
Hindson as Chief Executive Officer, effective 1 September 2000.  I will retain
the role of Executive Chairman.  

Brian is joining Cube8 from the British Red Cross where he holds the position
of Deputy Chief Executive Officer.  He comes with significant experience of
running complex organisations, and has particular strengths in strategic
planning and project appraisal, as well as in managing portfolios of wide
ranging, multi-disciplined business units with international reach.  

I believe that combining Brian's high-calibre management skills with the
existing levels of drive, innovation and expertise will be an important factor
for the long term success of Cube8.

Ongoing strategy
The Company's operations will have 3 main areas of focus, these being:

(i) Investment
(ii) Consultancy and Agency Services
(iii) Networking and Fundraising

Investment - broader focus
Cube8 will broaden its investment horizon beyond the internet, to encompass
telecoms, media and other technology companies.  The short term profitability
of the companies in which we invest will be of great importance - in almost
every case we will want to see profits either now or forecast in the
reasonably short term.  We will also look at allocating some of our funds to
later-stage private companies, particularly where there may be an opportunity
to realise a profit relatively quickly.

Consultancy and agency services - strategic investment

I am also pleased to announce today the acquisition of a majority stake in
Planet Three, a substantial web design and agency business, which will greatly
enhance the Company's capabilities and resources in the area of Consultancy
and Agency Services.

Networking and fundraising - new partnerships & alliances

A key success factor for our investee companies is enabling them to take
advantage of synergies with other Cube8 investees, and also off our UK and
international 'people network'.  An important part of this is the range of
contacts which Cube8 has with other investment funds and groups, and the
Company is in discussions with several parties with regard to establishing
partnerships and strategic alliances in the UK and overseas.

To further enhance these contacts, and to permit the Company to provide fund
raising and other related financial services for its incubatees, and also as a
third-party service, we will be seeking to acquire an appropriate SFA approved
company, and discussions are currently taking place with various parties to
this end. 

Operating break-even

The Company's objective will be to generate cash income from the second and
third areas of operational focus.  The target is for this cash income,
together with dividends from other profitable investments, to cover the
majority or all of the Company's monthly overheads by June next year.  This
target is independent of any gains made on the sale of investments.

Conclusion

Cube8 is well set to weather volatility in the stock market without needing
recourse to further fund raising.  The Company has a strong management team,
which has the contacts, skills and hands-on experience enabling it to add
value to investee companies.  The Company also has a portfolio which is
progressing well and which contains a good diversification of investment.
  
I believe that the prospects for Cube8 are extremely promising, and I look
forward to reporting at the end of the year on the Company's further progress.


Tim Dean-Smith                                                  22 August 2000
Chairman & CEO
Cube8.com plc


             Consolidated Profit and Loss Account for the Period              
                              Ended 30 June 2000                              

                                             Period                Period
                                             Ended                 Ended
                                          30 June 2000        31 December 1999
                                          (Unaudited)             (Audited)
                                              £                      £

Turnover                                   324,066                   -

Cost of Sales                             (242,581)                  -
                                          ----------             ----------

Gross Profit                                81,486                   -

Administrative expenses

  - before exceptional item             (1,046,963)              (550,183)
  - provision for NI on share options     (117,427)                  -
                                         ----------              ----------

Operating Loss                          (1,082,904)              (550,183)

Share of Operating Loss of Associated
Undertakings                               (59,242)                  -
                                         ----------              ----------

Loss on Ordinary Activities Before
Interest and Tax                        (1,142,146)              (550,183)

Interest Receivable                        146,935                     21
                                         ----------              ----------

Loss on Ordinary Activities Before
Taxation                                  (995,211)              (550,162)

Tax on Loss of Ordinary Activities         (48,978)                  -
                                         ----------              ----------
Loss on Ordinary Activities After 
Taxation                                (1,044,189)                  -

Minority Interest                            2,877                   -

Retained Loss                           (1,041,312)              (550,162)
                                         ----------              ----------

Basic Loss Per Ordinary Share               (0.3p)               (217.0p)
                                         ==========              ==========
Fully Diluted Loss Per Ordinary Share       (0.3p)               (199.0p)
                                         ==========              ==========



                          Consolidated Balance Sheet                          
                              As at 30 June 2000                              



                                    30 June 2000         31 December 1999
                                    (Unaudited)              (Audited)

                                   £            £         £            £
Tangible Fixed Assets

Tangible assets                 138,992                 36,096
Investments                   4,743,635                   -
                              ----------              ----------
                                           4,882,627                 36,096


Current Assets

Debtors                         620,468                160,235
Cash at bank and in hand      7,009,422                 77,603
                              ----------              ----------
                              7,629,890                237,838

Creditors: Amount Falling Due
Within One Year                (443,762)              (117,974)
                              ----------              ----------
Net Current Assets                        7,186,128                 119,864

Provisions for liabilities
and charges                                (117,427)                   -
                                          ----------               ----------
Total Assets Less Current
Liabilities                              11,951,328                 155,960
                                          ==========               ==========

Capital and Reserves

Called up share capital       3,509,888                  2,535
Share premium account        12,685,492                703,587
Merger reserve               (2,652,578)                  -
Profit and Loss account      (1,594,351)              (550,162)
                             ----------               ----------

Equity to shareholders' funds            11,948,451                 155,960
Minority interest                             2,877                    -
                                         -----------               ----------

Total Capital and Reserves               11,951,328                 155,960
                                        ===========               ==========


ON BEHALF OF THE BOARD

T J A Dean-Smith                        J K Winfield
Chairman & CEO                          Finance Director      22 August 2000



                             Cash Flow Statement                              


                                          Period Ended           Period Ended
                                          30 June 2000        31 December 1999
                                           (Unaudited)             (Audited)
                                Note            £                       £
Net Cash Outflow from            1
Operating Activities                      (1,201,470)               (496,682)

Returns on Investments and
Servicing of Finance
Interest received                            128,147                      21

Capital Expenditure
Payments to acquire tangible
fixed assets                                (120,598)                (42,798)

Acquisitions and Disposals
Fixed asset investments                     (900,000)                   -
Investment in associates                    (700,000)                   -
Loan                                        (250,000)                   -

Financing
Issue of Ordinary shares                   9,975,740                 617,062
                                           ----------              ----------
Increase in Cash                 2         6,931,819                  77,603
                                           ==========              ==========

Notes To The Accounts

1)Reconciliation of Operating Loss to Net Cash Outflow from 
  Operating Activities

                                      Period Ended               Period Ended
                                      30 June 2000            31 December 1999
                                           £                          £

Operating Loss                       (1,082,904)                  (550,183)

Depreciation                             17,627                      6,702
Increase in debtors                    (530,430)                   (71,175)
Increase in creditors                   276,810                    117,974
Increase in provisions                  117,427                       -

Net Cash Outflow from                 ----------                  ----------
Operating Activities                 (1,201,470)                  (496,682)
                                      ==========                  ==========


2) Reconciliation of Net Cash Flow to Movement in Net Funds

Net cash brought forward                 77,603                       -

Movement in funds                     6,931,819                     77,603
                                      ----------                  ----------  
Net Cash Carried Forward              7,009,422                     77,603
                                      ==========                  ==========

3) Accounting Policies

Basis of Accounting

The financial statements have been prepared in accordance with applicable
accounting standards and under the historical cost accounting rules.

Basis of Consolidation

The group financial statements consolidate the accounts for the company and
its subsidiary undertakings.  Profits and losses of companies entering the
group are included from date of acquisition.  The net assets of the
subsidiaries acquired are included on the basis of their fair value.

4) Post Balance Sheet Events

On 27 July 2000 Cube8 made an investment in Antique Street Limited, taking a
stake of 60% of the company.

On 7 August 2000 Cube8 made an investment in Planet Three Limited, taking a
stake of 70% and providing additional working capital funding.

5) Comparative Figures

The comparative figures for the group for the period ended 31 December 1999
relate to Portal Management Limited and its subsidiary undertakings. 
Cube8.com plc acquired Portal Management Limited on 18 February 2000 by way of
a share for share exchange.


6) Interim Report

Copies of this statement will be sent to all shareholders.  The statement will
also be published on the group's web site at www.cube8.com and will also be
available on written application to the Company Secretary, Cube8.com plc, 20
Eastbourne Terrace, London W2 6LE.