Issue of Equity, etc.

Ideal Shopping Direct PLC 8 August 2001 Ideal Shopping Direct Plc Placing of 9,250,000 new ordinary shares at 40 pence per share raising £3.7 million before expenses Ideal Shopping Direct Plc (the 'Company') is pleased to announce the successful placing of 9,250,000 new ordinary shares at 40 pence per share which will rank equally with the ordinary shares currently in issue. peel hunt plc acted as broker to the placing. Net of costs and commissions, estimated at £200,000 in aggregate, the placing raises cash resources for the Company of £3.5 million. Following a disastrous fire at the Company's premises, trading in the Company's securities was suspended on 7 March 2001. Following this fundraising the Company's entire issued share capital, including the 9,250,000 new ordinary shares which have been placed for cash, will be reinstated to trading or commence trading (as appropriate) on the Alternative Investment Market of the London Stock Exchange ('AIM') on 9 August 2001. The new ordinary shares have been placed with both existing institutional and new investors. Paul Wright, Chairman and Chief Executive, will following the fundraising have an interest in 9,900,000 or 34.1 per cent. of the enlarged issued share capital of the Company. Val Kaye, Commercial Director, subscribed for 250,000 new ordinary shares at 40 pence per share as part of the placing taking her total interest in the Company to 5,200,000 ordinary shares or 17.91 per cent. of the enlarged issued share capital of the Company following the placing. Paul Jephcott, Finance Director, subscribed for 2,500 new ordinary shares at 40 pence per share as part of the placing taking his total interest in the Company to 7,500 ordinary shares or 0.03 per cent. of the enlarged issued share capital of the Company following the placing. Commenting on the successful fundraising, Paul Wright, Chairman and Chief Executive of Ideal Shopping Direct Plc, stated: 'We are delighted with the success of the fundraising which has been achieved in difficult market conditions. Since the Company recommenced transmission on 23 March 2001, just over two weeks after the fire destroyed all of our broadcasting facilities, over 40,000 new customers have been attracted to the channel. Month on month sales remain encouraging despite the fact that the Ideal World TV business continues to operate from temporary premises. With the continued support of our insurance company and bankers, we anticipate the rebuilding of new headquarters and broadcasting facilities to commence shortly with occupation planned to occur in the middle of next year. The fundraising will allow the Company to continue to fund the growth of the Ideal World TV business and firmly establish the Ideal World shopping channel as a leader in innovative TV home shopping in the UK.' Contact: David Simonson, Merlin Financial 020 7606 1244 Paul Jephcott, Finance Director 08700 780704 Gerry Beaney, Grant Thornton 020 7383 5100 Adam Hart, Peel Hunt plc 020 7418 8900 Dated: 8 August 2001 Notes for Editors: Ideal Shopping Direct Plc operates the Ideal World home shopping channel available on digital satellite on channel 638. The Company floated on AIM in February 2000 and started broadcasting in April 2000. By December 2000, Ideal World had acquired 120,000 customers. A fire destroyed the Company's TV studios, warehouse and offices in March 2001. End.
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