Interim Results

Ideal Shopping Direct PLC
1 August 2001


IDEAL SHOPPING DIRECT PLC

Interim statement for the 6 months ended 30 June 2001

On 6 March 2001 a fire substantially destroyed the TV studio, offices and
warehouse premises from which the Company traded.  Trading in the first half
of 2001 has been significantly affected although subsequent sales levels have
been encouraging as the business is being re-established.  Turnover for the
six months ended 30 June 2001 amounted to approximately £7.0 million
(unaudited) compared to £5.7 million in 2000 (as restated).  Turnover on Ideal
World, the Company's Home Shopping TV Channel, which was launched on 17 April
2000 shows a considerable increase over the comparative period despite the
impact of the fire and now accounts for the majority of the Company's sales.
The sales performance of the catalogue business, after allowing for the impact
of the fire, was in line with expectations.  As stated in the Company's annual
report sent to shareholders on 27 July 2001, the Board intends to dispose of
the catalogue business as soon as practicable.

The Company's insurers have accepted liability and a number of interim
payments have been received.  The balance of the claim is currently being
assessed.  Unfortunately, the timing, extent and classification of payments
from the Company's insurers (particularly in relation to the Business
Interruption policy) is uncertain.  The Directors are therefore unable to
determine the result for the period at this stage.  It will not be possible to
produce detailed financial information until the position with the Company's
insurers has been clarified.  Consequently the Directors are making this
half-yearly report without reference to detailed figures.

A requirement for additional working capital has arisen as a result of higher
than anticipated losses for the year ended 31 December 2000, the inevitable
disruption caused by the fire and the need to fund the growth of the Ideal
World TV business.  Consequently, the Board is proposing to raise additional
working capital through a placing of ordinary shares.  To demonstrate their
commitment to the Company and at the request of certain potential investors,
the Executive Directors have agreed to participate in the placing. Details of
this fundraising have been circulated to shareholders separately.

As stated in the annual report, the Directors are of the opinion, after taking
into account the proposed share placing and the rescheduling of certain
creditor payments, that the Company has sufficient resources for its present
requirements.  The cash flow forecasts prepared by the Directors are, however,
critically dependent upon assumptions regarding the timing and extent of
insurance payments.  A further equity fundraising may be required in the event
that insurance payments do not occur as forecast.  There can be no certainty
regarding the availability of such equity funds in the future.  The Directors,
having taken advice, consider the proposals to be in the best interests of
creditors and shareholders.


Whilst it will inevitably take time to rebuild the premises, and fully
re-establish the business, the Board remains confident about the future
prospects of Ideal Shopping Direct Plc.  The Directors would like to take this
opportunity to thank the employees, shareholders and suppliers for their
support during the difficult period following the fire and hope that the
future proves to be rewarding.

1 August 2001

Enquiries

Gerald Beaney (Nominated Adviser)  020 7383 5100