Secondary Offering Completed

FUTURE NETWORK PLC 5 October 1999 Not for release or distribution in or into the United States of America, Canada, Japan or Australia COMPLETION OF SECONDARY OFFERING OF SHARES IN THE FUTURE NETWORK PLC Morgan Stanley International ('Morgan Stanley') as Bookrunner, announces that it has successfully completed the secondary offering of shares in The Future Network plc ('Future'), the video games, home computing and other specialist consumer magazines publisher, announced yesterday afternoon. 18 million ordinary shares ('the secondary offering') were placed with institutional investors at a price of 620p per share. As a consequence of the placing, funds managed and advised by Apax Partners & Co. Ventures Ltd together with certain other investors now hold a 14.1% shareholding in Future. None of the executive directors participated in the secondary offering. For further information: John Hyman, Executive Director Tel: 0171 425 8000 Morgan Stanley International James Longfield Tel: 0171 357 9477 Hogarth Partnership 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 112 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 £850 million.

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Future (FUTR)
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