Interim Results

THE FUTURE NETWORK PLC
8 Septembr 1999

                                 
        Interim results for the six months to 30 June 1999


The Future Network plc ('Future'), the video games, home computing
and  other specialist consumer magazine publisher, today announces
its  maiden  results following its successful  flotation  in  June
1999.

Key financial highlights:

*    Pro forma sales increase 24% to £86 million
     
*    Investment  in  the US business and Internet activities  have
     resulted  in  pro  forma operating profits of  £4.3  million,
     which as expected are down from £5.8 million
     
*    Underlying profitability up 16% to £12.8 million (this figure
     excludes  the  parts of the portfolio that are  still  in  an
     investment phase and have yet to break even)

Key operational highlights:

*    Successful  acquisitions  of  Il  Mio  Castello  (Italy)  and
     Imagine  Media (US) in the period and in July of four  gaming
     titles from Weka Medien in Germany
     
*    Strong  growth  continues in the UK, with a 29%  increase  in
     year on year audited circulations for those publications that
     report first half ABCs
     
*    US  business performs above expectations with a 116% increase
     in audited circulations in the first half
     
*    Major  Internet partnership alliance with Netscape Online  in
     August  establishes strong platform for Internet  growth  for
     Future
     
*    Three  further  Internet  agreements  announced  today   (see
     separate release)

Commenting on the results Greg Ingham, Future's Chief Executive
said today:

'The first six months have been a period of great transformation
for Future, with two significant acquisitions and our successful
flotation.  Circulation growth has continued but profits were
affected by further significant investments made in the business in
the first half.  The benefits of these investments will start
feeding through to the bottom line in the second half of 1999 and
2000 as our recently launched magazines move through the investment
cycle.

'Our Internet activities, which are now run as a separate global
operation under the FutureNet name, continue to expand.  We have
secured important alliances with key Internet companies in recent
months, including AOL Europe and Gameplay.com and today have
announced further deals with FairMarket, Delphi and Critical Path.
These alliances offer significant revenue opportunities for Future
and provide a powerful platform for growth.

'On the international front, in addition to the acquisitions of Il
Mio Castello in Italy and Imagine in the US, we have greatly
strengthened our German business through the acquisition of four
video games titles from Weka.  We are currently evaluating a
number of opportunities in other international markets and expect
to be able to report further progress in this area over the coming
year.

'Because of the transformation of the business through acquisitions
in the first six months, first half results are not indicative of
full year performance.  Due to the seasonality of the business, and
the significant progress in the US we are confident of meeting our
overall operating profit targets.'

For further information:

Greg Ingham, Chief executive      
Ian Linkins, Finance Director     
Future Network                    Tel: [phone]

James Longfield                   
Hogarth Partnership               Tel: [phone]

Background on the Future Network:

The Future Network was founded in the UK in 1985.  Since this time
it has become the leading publisher of video games and home
computing magazines in the UK, France, Italy and the US.
Headquartered in Bath, England, Future is the fourth largest
publisher in the UK.  It employs over 1,400 people in offices in
Bath, London, San Francisco, New York, Paris, Milan and Munich.
Future publishes over 100 magazines worldwide and has extensive
online activities generating over 50 million page views per month.
Future was floated on the London Stock Exchange in June 1999 and
has a current market capitalisation of over £680 million.


                      THE FUTURE NETWORK PLC
                                 
                          Interim Results
                For the six months to 30 June 1999


Overview:

The Future Network's inaugural interim statement shows strong
revenue growth, reflecting Future's position as one of the world's
fastest-growing media companies.

In headline terms, group pro forma sales are up from £70m to £86m,
a rise of 24%.  This growth reflects continued progress from
existing operations in the UK and France together with year on year
sales growth in the companies acquired.

During the period, Future made two significant acquisitions: its
former Italian licensee Il Mio Castello in March, and the US
magazine and Internet business, Imagine Media, simultaneous with
admission to the London Stock Exchange in June.  We also
established a business in Germany, which was augmented in July by
the acquisition of four computer games magazines from Weka Medien.

Following significant planned investment in new projects,
particularly in the Internet and US, pro forma operating profits
are reduced, as expected, from £5.8m to £4.3m.  Our rapid expansion
through launches means that some of our product portfolio is still
in an early stage of its life and yet to break even.  Stripping out
unprofitable magazines and websites, our underlying profitability
is £12.8m.

The transformation of Future during the period, together with the
impact of the company's MBO from Pearson plc in April 1998, make
direct comparisons between the accounting statements of the first
halves of 1998 and 1999 very difficult.  Therefore we have provided
a pro forma profit and loss statement for the enlarged business at
the period end to assist analysis.

Review of operations:

Following the acquisitions of Il Mio Castello and Imagine and the
establishment of operations in Germany, Future now publishes 111
specialist consumer magazines in five countries.  Future also
licenses content and magazines to other publishers around the
world.  In addition, Future has a global Internet business,
FutureNet, which operates 18 magazine websites and four web
networks focused on games, music and football.

United Kingdom:

                              1999        1998        Change
                                £           £            
Pro forma sales               46.0m       39.7m        +16%
Pro forma operating profit     7.3m        5.4m        +34%

Future's UK business, Future Publishing, the powerhouse of the
group has continued its historically strong progress in the first
half of 1999, with sales up 16% and operating profits up 34%,
reflecting the move into profit of the non-computing segment of the
business.  Future's stable of PlayStation magazines increased their
share of the PlayStation market, both by value and by volume during
the period, although the sector as a whole had a quieter six months
than expected.  Since the end of the period there has been a price
cut of the PlayStation console and an increase in marketing
activity.  This will in turn drive magazine sales, which together
with Future's dominant position in this market, augurs well for the
financially more significant second half.

Other consumer specialist titles have shown pleasing progress, both
in new and in existing sectors - particularly Total Film and T3.
Amongst several successful launches in the UK are Computer Music,
Internet Advisor, What DVD and Nintendo World.

Future has once more been confirmed as the fastest-growing major
magazine company in the UK - up 29% as measured by first half 1999
ABC audited copy sales for those publications that report six
monthly ABCs.  Although the UK magazine industry has seen a weaker
spring, on the whole Future has been largely unaffected and a
strong second half 1999 is anticipated.

France:

                              1999        1998        Change
                                £           £            
Pro forma sales               10.7m       9.8m          +9%
Pro forma operating profit     0.36m      1.4m         -74%

Future's French business, Edicorp, has been part of the group since
1996.  Good progress has been made with launches, during the
period, with new titles such as Computer Music, Consoles Plus and
Game On.  A number of existing titles have been affected by lower
consumer demand, and by additional competitive activity, but in
general market shares have held.  The reduced operating profit for
the period reflects a planned investment in overheads and senior
management to facilitate further growth in 2000.  This will come
from the computer market and other consumer specialist sectors, as
France continues its development along similar lines to the UK.

Italy:

                               1999        1998        Change
                                 £           £            
Pro forma sales                7.8m        6.4m          22%
Pro forma operating profit     1.6m        1.4m          14%

Future's Italian business, Il Mio Castello, was a former licensee
of Future titles and was acquired in March 1999.  Integration has
followed swiftly upon the acquisition, and is going according to
plan.  Il Mio has continued to grow its revenues and profits
satisfactorily.  The company is well positioned to capitalise on
many launch opportunities provided by being part of Future.

Germany:

                               1999        1998        Change
                                £           £             
Pro forma sales                 -           -             -
Pro forma operating profit   (90,000)       -             -

Future's German operations, Future Verlag, were established in May
1999. We are on plan with our early stage investment in Germany -
Europe's largest market for computer games magazines.  Since
formation, we have already secured the license to publish the
Official Sega Dreamcast magazine in Germany, which is due for
launch in September.  Since the period end, the business was
further enhanced by the acquisition of four computer gaming titles
acquired from Weka in July.

United States:

                                1999        1998        Change
                                  £           £            
Pro forma sales                 21.2m       13.5m        +57%
Pro forma operating profit      (2.9m)      (2.2m)         -

Future's US operations, Imagine Media, were acquired in June 1999.
Significant investment in the US has, as expected, resulted in
increased pro-forma operating losses despite strong revenue growth
during the period.  Exceptionally strong growth has occurred in the
United States, with Future's total audited magazine circulation up
116% year on year, as measured by ABC and BPA.

PSM (our unofficial PlayStation magazine and America's fastest-
growing magazine in 1998), increased by a further 90% in the first
half.  Business 2.0 exceeded all of its ambitious revenue targets
and will provide significant growth for the rest of 1999 and
beyond.  In addition to this fast growing core, further growth will
come from launches - some UK sourced, and some into new markets.
Post acquisition we are even more confident of the prospects in the
US which we see as a major growth opportunity for Future.


Internet:

                               1999        1998        Change
                                £           £             
Pro forma sales              448,000     309,000        +45%
Pro forma operating profit  (878,000)   (247,000)         -

Future's Internet activities, FutureNet, consist of the existing UK
Internet activities together with those acquired as part of the
Imagine acquisition in June 1999.  During the period, management
focus was on combining the Internet activities in the separate
territories into a worldwide operation.  Significant opportunities
are continuing to open up for us almost daily.  Revenues are
growing strongly on existing sites, such as the Maximum PC Network.

Major deals on UK computer game e-commerce with Gameplay, on
content with Netscape and most recently on auctions with
FairMarket, provide a powerful platform for growth in 2000 and
beyond.

New territories:

In addition to publishing magazines in the UK, France, Italy,
Germany and the US, Future also licenses its magazines and content
to other publishers in other territories.  The increasing
globalisation of the computer games sector and the success of our
licenses to date provide strong evidence of the potential for
further international expansion.  During the period a further 23
licenses were signed.  These licensing agreements provide Future
with a valuable insight into new markets, and management are
currently evaluating which new countries to enter in the coming
year.

Outlook:

The first six months have been a period of great transformation for
Future, with two significant acquisitions and our successful
flotation.  Whilst circulation growth has continued, we have
continued to invest significantly in the business in the first
half.  The benefits of these investments will start feeding through
to the bottom line from 2000 as the recently launched magazines
move through the investment cycle.

Because of the transformation of the business through acquisitions
in the first six months, first half results are not indicative of
full year performance.  Due to the seasonality of the business, and
the significant progress in the US we are confident of meeting our
overall operating profit targets.

Greg Ingham
Chief Executive
8 September, 1999

Copies of The Future Network's 1999 Interim Report will be posted
to shareholders of the company on 17 September 1999 and will be
available at the Company's offices at: Beauford Court, 30 Monmouth
Street, Bath BA1 2BW.

Actual Consolidated Profit and Loss Account
for the six months ended 30 June 1999

(£'000)             Notes  6 months to    6 months to  12 months to
                          30 June 1999   30 June 1998   31 Dec 1998

Turnover              4         61,760         20,140       80,290
Cost of Sales                  (41,899)       (15,214)     (54,948)
-------------------------------------------------------------------
Gross Profit                    19,861          4,926       25,342
Distribution costs              (2,243)          (609)      (2,748)
Other administrative
expenses including
amortisation of
goodwill and
intangibles                    (14,791)        (3,061)     (15,955)
-------------------------------------------------------------------
Operating profit
Excluding amortis-
ation of goodwill
and intangibles                  6,730          2,515       11,381
Amortisation of
goodwill and
intangibles                     (3,903)        (1,259)      (4,742)
-------------------------------------------------------------------
Operating Profit      4          2,827          1,256        6,639
Net interest payable            (9,188)        (2,754)     (10,360)
-------------------------------------------------------------------
Loss on ordinary
Activities before
taxation                       (6,361)         (1,498)      (3,721)
Tax on loss on
ordinary activities   5           742            (229)      (1,000)
-------------------------------------------------------------------
Retained loss for 
the period                     (5,619)         (1,727)      (4,721)
-------------------------------------------------------------------


(in pence)         Notes  6 months to     6 months to  12 months to
                      3   30 June 1999   30 June 1998   31 Dec 1998

Basic loss per share            (8.75)          (8.16)      (12.15)
-------------------------------------------------------------------
Basic (loss)/earn-
ings per share
excluding goodwill
amortisation                    (2.67)          (2.21)        0.05
-------------------------------------------------------------------
Diluted loss per
share                           (8.75)          (8.16)      (12.15)
-------------------------------------------------------------------
Diluted (loss)/earnings per
share excluding goodwill
amortisation                    (2.67)          (2.21)        0.05
-------------------------------------------------------------------


Pro Forma Consolidated Profit and Loss Account
for the six months ended 30 June 1999

(£'000)            Notes  6 months to    6 months to  12 months to
                         30 June 1999   30 June 1998   31 Dec 1998

Turnover              4        86,195         69,686       159,881
Cost of Sales                 (63,584)       (52,069)     (114,747)
-------------------------------------------------------------------
Gross Profit                   22,611         17,617        45,134
Distribution costs             (4,905)        (3,467)       (8,392)
Other administrative
expenses including
amortisation of
goodwill and intangibles      (25,188)       (19,452)      (46,721)
-------------------------------------------------------------------
Operating profit
excluding amortisation
of goodwill and
intangibles                     4,329          5,766        13,022
Amortisation of
goodwill and
intangibles                   (11,811)       (11,068)      (23,001)
-------------------------------------------------------------------
Operating loss        4        (7,482)        (5,302)       (9,979)
Net interest payable           (1,663)        (2,052)       (3,641)
-------------------------------------------------------------------
Loss on ordinary
activities before
taxation                       (9,145)        (7,354)      (13,620)
Tax on loss
on ordinary activities         (1,815)        (2,710)       (6,060)
-------------------------------------------------------------------
Retained loss
for the period                (10,960)       (10,064)      (19,680)
-------------------------------------------------------------------

(in pence)         Notes  6 months to    6 months to  12 months to
                     3   30 June 1999   30 June 1998   31 Dec 1998

Basic loss per share           (8.02)         (7.36)        (14.40)

Basic earnings per
share excluding
goodwill amortisation           0.62           0.73           2.43
-------------------------------------------------------------------
Diluted loss per share         (8.02)         (7.36)        (14.40)
-------------------------------------------------------------------
Diluted earnings per
Share excluding good-
will amortisation               0.57           0.68           2.23
-------------------------------------------------------------------


Statement of Total Recognised Gains and Losses
for the six months ended 30 June 1999

(£'000 actual)           6 months to    6 months to    12 months to
                        30 June 1999   30 June 1998     31 Dec 1998

Loss on ordinary
Activities after taxation    (5,619)        (1,727)        (4,721)
Translation differences
on foreign currency
investments                  (1,429)          (712)           324
-------------------------------------------------------------------
Total recognised losses
in the period                (7,048)        (2,439)        (4,397)
-------------------------------------------------------------------

Reconciliation of Movements in Shareholders' Funds/(Deficit)
for the six months ended 30 June 1999

(£'000 actual)            6 months to   6 months to    12 months to
                         30 June 1999  30 June 1998     31 Dec 1998

Loss on ordinary
Activities after taxation      (5,619)       (1,727)        (4,721)
Proceeds from issue of
Shares (net of expenses)       134,651        1,482          1,482
Merger reserve arising
in the period                  109,015            -              -
Foreign currency
translation                    (1,429)         (712)           324
Other                          20,959             -              -
-------------------------------------------------------------------
Net change in shareholders'
funds/(deficit)               257,577          (957)        (2,915)
Opening shareholders'
deficit as previously
reported by Future
Publishing Holdings Limited    (2,915)            -              -

Shareholders' funds/(deficit)
at end of period              254,662          (957)        (2,915)

Consolidated Balance Sheet
at 30 June 1999

(£'000 actual)    Notes  30 June 1999   30 June 1998    31 Dec 1998


Fixed assets
Intangible assets    6        293,755        133,904        133,165
Tangible assets                 5,643          4,177          4,193
Investments                    11,480            -                -
-------------------------------------------------------------------
                              310,878        138,081        137,358

Current Assets
Stocks                          5,258          2,632          2,211
Debtors                        36,633         18,689         26,731
Cash                           16,121          8,638          7,131
-------------------------------------------------------------------
                               58,012         29,959         36,073
Creditors - Amounts
falling due within one year   (58,238)       (43,007)       (46,155)
-------------------------------------------------------------------

Net current liabilities         (226)        (13,048)       (10,082)
-------------------------------------------------------------------
Total assets less
current liabilities           310,652        125,033        127,276

Creditors - Amounts
falling due after more
than one year                 (54,902)      (125,990)      (130,191)

Provisions for liabilities
and charges                    (1,088)             -              -
-------------------------------------------------------------------

Net assets/(liabilities)      254,662          (957)         (2,915)
-------------------------------------------------------------------

Capital and Reserves

Called up share capital         1,367            678            678
Share premium account         134,766              -              -
Profit and loss account       (11,445)        (2,439)        (4,397)
Other reserves                129,974            804            804

Total equity shareholders'
funds/(deficit)               254,662           (957)        (2,915)
-------------------------------------------------------------------

Consolidated Cash Flow Statement
for the six months ended 30 June 1999

(£'000 actual)            6 months to    6 months to   12 months to
                         30 June 199930 June 1998       31 Dec 1998

Net cash inflow from
operating activities           10,362          3,913          9,735
-------------------------------------------------------------------
Returns on investments
And servicing of finance
Net interest payable          (11,282)        (1,079)        (3,176)
Issue costs of new bank loan   (1,575)        (1,715)        (1,715)
-------------------------------------------------------------------
Net cash outflow from
returns on investments
and servicing of finance      (12,857)        (2,794)        (4,891)
-------------------------------------------------------------------
Taxation paid                  (1,326)          (242)        (3,638)
-------------------------------------------------------------------
Capital expenditure
Purchase of tangible
fixed assets                     (924)          (219)          (939)
Sale of tangible fixed
Assets                              8              -             76
-------------------------------------------------------------------
Net cash outflow for capital
expenditure                      (916)          (219)          (863)
-------------------------------------------------------------------
Acquisitions
Purchase of subsidiary
undertakings                   (1,695)      (118,074)      (118,074)
Net cash acquired with
subsidiary undertakings           305          6,181          6,181
Payment of deferred
consideration                 (14,735)             -              -
Purchase of businesses        (16,457)             -              -
-------------------------------------------------------------------
Net cash outflow for
acquisitions                  (32,582)      (111,893)      (111,893)
-------------------------------------------------------------------
Net cash outflow before
use of liquid resources
and financing                 (37,319)      (111,235)      (111,550)
-------------------------------------------------------------------
Management of liquid
resources Decrease/
(increase) in short-term
deposits                        1,000         (1,000)        (1,000)
-------------------------------------------------------------------
Financing
Proceeds from issue of
ordinary share capital        149,091          1,444          1,444
Expenses of share issue       (11,313)             -              -
Proceeds from issue of
loan notes                      9,716         52,634         52,634
Drawdown of bank loans         61,334         74,895         72,923
Repayment of loan notes       (63,920)             -              -
Repayment of loans            (99,524)        (8,400)        (8,400)
-------------------------------------------------------------------
Net cash inflow from 
financing                      45,384        120,573        118,601
-------------------------------------------------------------------
Increase in cash in
the period                      9,065          8,338          6,051
-------------------------------------------------------------------


Reconciliation of Movement in Net Debt
for the six months ended 30 June 1999

(£'000 actual)           6 months to6 months to        12 months to
                        30 June 1999  30 June 1998      31 Dec 1998

Net debt at start of
period                      (125,175)            -               -
Increase in cash               9,065         8,338           6,051
Borrowings net of short
Term deposit acquires
with subsidiaries             (6,256)       (8,400)         (8,400)
Movement in borrowings        92,394      (119,129)       (117,157)
Movement in liquid
resources                     (1,000)        1,000           1,000
Loan notes issued other
than in cash                       -        (1,570)         (1,570)
Interest rolled up             5,181        (1,212)         (5,181)
Unamortised debt issue
costs                         (1,017)        1,391           1,527
Exchange adjustments             904          (860)         (1,445)
-------------------------------------------------------------------
Net debt at period end       (25,904)     (120,442)       (125,175)
-------------------------------------------------------------------

Reconciliation of Operating Profit to Net Cash Flow from Operating
Activities
for the six months ended 30 June 1999

(£'000 actual)           6 months to   6 months to     12 months to
                        30 June 1999  30 June 1998      31 Dec 1998

Operating profit               2,827         1,256           6,639
Depreciation                     751           207             871
Amortisation of goodwill
And intangibles                3,903         1,259           4,742
Increase in stocks               (83)         (863)           (435)
Decrease/(increase) in
debtors                        2,737        (2,023)         (9,710)
Increase in creditors                          227           4,077
7,628
-------------------------------------------------------------------
Net cash inflow from
operating activities          10,362         3,913           9,735
-------------------------------------------------------------------

Notes to the Interim Statement

1.   Basis of the preparation of accounts

The Future Network plc was formed to facilitate the listing on the
London Stock Exchange of the magazine and Internet website
publishing businesses of Future Publishing Holdings Limited, in
Europe and Imagine Media Inc in the USA.

The actual and pro forma results for the six months to 30 June
1998 and 30 June 1999 are unaudited and do not comprise statutory
accounts.  The actual figures for the year ended 31 December 1998
are based on the statutory accounts of Future Publishing Holdings
Limited, (which have been delivered to the Registrar of Companies
and upon which an unqualified audit report was given by
PricewaterhouseCoopers the Company's auditors, in accordance with
section 235 of the Companies Act 1985 which report did not contain
any statement made under section 237(2) or (3) of that Act), as
adjusted to reflect the merger of The Future Network plc with the
Future Publishing Holdings Group.

Actual financial information for the group shows the trading until
30 June 1999 of Future Publishing Holdings Limited's subsidiaries
in the UK and France for the period from 1 January 1999, the
trading of the Italian business acquired by Future Publishing
Holdings Limited for the period since acquisition on 22 March 1999
and for the US business acquired simultaneously with admission to
the London Stock Exchange from 25 June 1999.

In order to assist readers pro forma results for the six months
ended 30 June 1999 are included on pages 7 and 15.  They are based
on a full six month's trading for all companies which became part
of the Group before and at flotation, and assume that the capital
and financing structure of the Group at flotation applied
throughout the period.

The 1998 comparatives are based on the pro forma figures included
in the Company's Listing Particulars dated 18 June 1999, restated
to reflect the actual annual charges for amortisation of goodwill
and deferred consideration discount.  The pro forma results have
been prepared using consistent accounting policies to the actual
results.  More detailed information can be found in the Company's
Listing Particulars dated 18 June 1999.

2.   Accounting policies

The actual financial information in the Interim statement has been
prepared in accordance with applicable accounting standards and
under the historical cost convention.  The principal accounting
polices are as stated in the Company's Listing Particulars (as
referred to above).  The Il Mio Castello businesses and the
Imagine acquisitions are both accounted for as acquisitions, with
the goodwill arising being capitalised and amortised over 20 and
10 years respectively.

3.   Earnings per ordinary share

Basic earnings per share are calculated using the weighted average
number of ordinary shares outstanding during the period.  Diluted
earnings per share have been calculated by taking into account the
dilutive effect of shares that would be issued on conversion into
ordinary shares of warrants and options held under employee share
schemes.  The share options have a dilutive effect where earnings
are positive.  The calculations are in accordance with Financial
Reporting Standard No. 14 'Earnings per Share'.

i)  Actual                  6 months to  6 months to   12 months to
                           30 June 1999  30 June 1998   31 Dec 1998

Earnings (£'000)                (5,619)      (1,727)       (4,721)
Goodwill amortisation(£'000)     3,903        1,259         4,742
-------------------------------------------------------------------
Earnings
excluding amortisation(£'000)   (1,716)        (468)           21
-------------------------------------------------------------------
Weighted average number
of shares outstanding
during the period
- Basic                      64,230,265   21,154,898    38,871,050
- Dilutive effect of
  share options               9,184,823            -     2,081,761
- Diluted                    64,230,265   21,154,898    40,952,811
-------------------------------------------------------------------
Basic loss per share
(in pence)                        (8.75)       (8.16)       (12.15)
-------------------------------------------------------------------
Basic (loss)/earnings per
share excluding goodwill
amortisation (in pence)           (2.67)       (2.21)         0.05
-------------------------------------------------------------------
Diluted loss per share
(in pence)                        (8.75)       (8.16)       (12.15)
-------------------------------------------------------------------
Diluted (loss)/earnings
per share excluding good-
will amortisation (in pence)      (2.67)       (2.21)         0.05
-------------------------------------------------------------------
ii)  Pro forma              6 months to   6 months to  12 months to
                           30 June 1999  30 June 1998   31 Dec 1998

Earnings (£'000)               (10,960)      (10,064)     (19,680)
Goodwill amortisation(£'000)    11,811        11,068       23,001
-------------------------------------------------------------------
Earnings
excluding amortisation (£'000)     851         1,004        3,321
-------------------------------------------------------------------
Weighted average number of
shares outstanding during
the period
- Basic                     136,663,881   136,663,881   136,663,881
- Dilutive effect of share
  options                    11,986,741    11,986,741    11,986,741
- Diluted                   148,650,622   148,650,622   148,650,622
-------------------------------------------------------------------
Basic loss per share
(in pence)                        (8.02)        (7.36)      (14.40)
-------------------------------------------------------------------
Basic earnings per share
excluding goodwill
amortisation (in pence)            0.62          0.73         2.43
-------------------------------------------------------------------
Diluted loss per share
(in pence)                        (8.02)        (7.36)      (14.40)
-------------------------------------------------------------------
Diluted earnings per share
excluding goodwill
amortisation (in pence)            0.57          0.68         2.23

Notes to the Interim Statement

4.   Turnover and profit analyses
i)   Actual

(£'000)                     6 months to   6 months to  12 months to
                           30 June 1999  30 June 1998   31 Dec 1998

Turnover
Computing:
UK                               29,608         9,217       40,282
US                                1,119             -            -
France                           10,660         5,031       16,472
Italy                             3,803             -            -
Germany                               -             -            -
-------------------------------------------------------------------
                                 61,760        20,140       80,290
-------------------------------------------------------------------

Comprising:
Turnover
- from continuing
  operations                     56,838        20,140       80,290
- from acquisitions               4,922             -            -
-------------------------------------------------------------------
                                 61,760        20,140       80,290
-------------------------------------------------------------------


Operating Profit/(Loss)
Computing:
UK                                6,536         2,382        8,995
US                                  181             -            -
France                              359           522        2,112
Italy                               497             -            -
Germany                             (90)            -            -
-------------------------------------------------------------------
                                  7,483         2,904       11,107
Internet                           (420)         (104)        (243)
Non Computing (UK)                  734          (285)         517
-------------------------------------------------------------------
                                  7,797         2,515       11,381
Central Costs
(excluding goodwill)             (1,067)            -            -
-------------------------------------------------------------------
Goodwill                         (3,903)       (1,259)      (4,742)
-------------------------------------------------------------------
                                  2,827         1,256        6,639
-------------------------------------------------------------------

Comprising:
Operating Profit
- from continuing operations      2,757         1,256        6,639
- from acquisitions                  70             -            -
-------------------------------------------------------------------
                                  2,827         1,256        6,639
-------------------------------------------------------------------
ii) Pro forma


(£'000)                   6 months to    6 months to   12 months to
                         30 June 1999   30 June 1998    31 Dec 1998

Turnover
Computing:
UK                             29,608         24,094        55,095
US                             21,212         13,495        34,889
France                         10,660          9,783        21,246
Italy                           7,827          6,377        14,706
Germany                             -              -             -
-------------------------------------------------------------------
                               86,195         69,686       159,881
-------------------------------------------------------------------


Operating Profit/(Loss)
Computing:
UK                              6,536          6,576        13,201
US                             (2,908)        (2,187)       (5,188)
France                            359          1,423         3,029
Italy                           1,547          1,366         2,545
Germany                           (90)             -             -
-------------------------------------------------------------------
                                5,444          7,178        13,587
Internet                         (878)          (247)         (173)
Non Computing (UK)                734         (1,165)         (392)
-------------------------------------------------------------------
                                5,300          5,766         13,022
Central Costs (excluding
goodwill)                        (971)             -              -
Goodwill                      (11,811)       (11,068)       (23,001)
-------------------------------------------------------------------
                               (7,482)        (5,302)        (9,979)
-------------------------------------------------------------------

Note:  Actual comparative financial information for the six months
ended 30 June 1998 and for the period ended 31 December 1998
comprises the trading of Future Publishing Holdings Limited's
subsidiaries in the UK and France for the period from the
acquisition from Pearson plc on 24 April 1998.

5.   Taxation

The taxation credit/(charge) is based on profits for the period and
comprises:

(£'000 actual)          6 months to      6 months to   12 months to
                        30 June 1999    30 June 1998    31 Dec 1998

-------------------------------------------------------------------
UK Corporation tax               705              -             -
Overseas tax                      37           (229)       (1,000)
-------------------------------------------------------------------
                                 742           (229)       (1,000)
-------------------------------------------------------------------


6.   Intangible assets

(£'000 actual)                                             Goodwill

Cost
At 1 January 1999                                          137,907
Additions from acquisition of
Il Mio businesses                                           20,315
Additions from Imagine acquisition                         146,853
Exchange adjustments                                        (2,675)
-------------------------------------------------------------------
At 30 June 1999                                            302,400
-------------------------------------------------------------------
Amortisation
At 1 January 1999                                            4,742
Provided during the period                                   3,903
-------------------------------------------------------------------
At 30 June 1999                                              8,645
-------------------------------------------------------------------
Net book amount
At 30 June 1999                                            293,755
-------------------------------------------------------------------
At 31 December 1998                                        133,165
-------------------------------------------------------------------

The goodwill arising on the acquisition of the Il Mio Castello
businesses and Imagine have been determined on a provisional
basis.

Year 2000 Statement

The Group has been following an action plan to ensure business
critical internal systems are Year 2000 compliant before the end
of 1999.  This plan, which involved internal testing and obtaining
assurances from suppliers is substantially complete.

Major customers and suppliers have been contacted to ensure their
systems will be compliant and assurances obtained that they will
suffer no disruption.  Whilst the readiness of suppliers and
customers will be kept under review on a continuing basis, the
Group has no control over compliance of those systems.

In the event of unforeseen disruption contingency plans are being
developed in business critical areas.

Although the Directors are confident that all appropriate steps
have been taken to protect the Group against Year 2000 issues,
these can provide only reasonable and not absolute assurance that
the Group will not be adversely impacted by either internal or
external events.