Interim Results

Media Content PLC
30 March 2001



MEDIA CONTENT PLC

Interim Report for the Six Months Ended 31 December 2000


MEDIA CONTENT PLC

CHAIRMAN'S STATEMENT

I  am pleased to present Media Content PLC's interim financial results for
the six months ended December 31 2000.

Turnover  increased to £463,000 in the second half of  2000,  compared  to
£96,000  for  the  same  period  in 1999. Net  loss  (after  expenses  and
interest) was £146,000 in the period versus £183,000 in the six months  to
December 31 1999, and a fully diluted loss per share of 2p, versus  3p  in
the  same period in 1999. Net cash has risen to £3,967,000 from £1,666,000
at December 31 1999.

As  a  result of the adoption of conservative accounting practices,  Media
Content  now  has a consolidated balance sheet which is free of  goodwill
and  thus transparently reflects current operations. The year 2000  saw  a
general  downward  adjustment in the valuations  of  many  new  media  and
technology  businesses.  The group had planned to participate  in  certain
growth  ventures however instead, the group chose to take a  more  careful
route  and concentrate on servicing its existing relationships as well  as
fostering  other  strategic  relationships  which  would  not  expose  its
shareholders to the same degree of short and medium term risk.

Operating activities which reflect this are:

1)  The opening of a Hong Kong office to service our new and existing
    clients' requirements in developing their activities in the region and vice 
    versa Asia Pacific clients in other parts of the world

2)  The   signing   of   a  joint  venture  with  SDCi,  an   operator   of
    business-to-business exchanges launched by seasoned media  executives
    from  CME and  Time Warner, to co-operatively launch SportsMediaRights.com.

3)  Focus on adding value to existing client relationships such as
    Manchester United Football Club and the New Zealand Rugby Football
    Union

4)  Recruitment of additional staff focused upon adding value to core
    activities

5)  The continuation of a process of reviewing a series of strategic
    relationships and operating partnerships

The  underlying  sports media marketplace continues to demonstrate  growth
and  Media Content's alignment with key brands is a recipe upon which  the
company  plans  to  build. We concur with the view that the  sports  media
industry  will  continue  to position the company  to  take  advantage  of
numerous opportunities both with our clients and in the marketplace.

Reflecting  this,  Media Content announced on 13  February  2001  that  it
would  acquire  its partner in the SportsMediaRights.com  venture,  SDCi,
for  USD$3.95 million in shares. In so doing, Media Content brings on board
a  well-developed concept and experienced and complementary management and
broadens  its focus to incorporate opportunities in the media  arena.  The
breadth  of  capabilities and the increased scale of  the  enlarged  Media
Content makes  us  truly  a  force to be reckoned  with  in  the  growing
segments of the media landscape.

Robert Montgomery
Chairman


MEDIA CONTENT PLC

CONSOLIDATED PROFIT AND LOSS ACCOUNT
Six months ended 31 December 2000

                                   Note                                Year
                                            6 months to 6 months to   ended
                                            31 December 31 December 30 June
                                                   2000        1999    2000
                                            (unaudited)(unaudited) (audited)
                                               £000         £000      £000

      TURNOVER                                  463           96       329
      Administrative expenses
       Exceptional item:
         Amortisation of goodwill   3             -            -    (4,706)
        Other administrative expenses          (733)        (284)     (931)

                                               (733)        (284)   (5,637)

      OPERATING LOSS                           (270)        (188)   (5,308)

      Interest receivable and similar income    124            5        83
      Interest payable and similar charges        -            -         -

      LOSS ON ORDINARY ACTIVITIES
      BEFORE AND AFTER TAXATION BEING
      RETAINED LOSS                            (146)        (183)   (5,225)

      Basic loss per share (pence)  4         (0.02)       (0.03)     (0.9)
      Diluted loss per share (pence)4         (0.02)       (0.03)     (0.9)

All of the company's operations were classified as continuing in the year.

There were no other recognised gains or losses other than shown above.


MEDIA CONTENT PLC

CONSOLIDATED BALANCE SHEET
Six months ended 31 December 2000

                                   Note            At 31       At 31        At
                                                December    December   30 June
                                                    2000        1999      2000
                                              (unaudited) (unaudited) (audited)
                                                    £000        £000      £000
      FIXED ASSETS
      Intangible assets                                -       4,574         -
      Tangible assets                                 33          24        32
      Investments                                    437          47       375
                                                     470       4,645       407
      CURRENT ASSETS
      Debtors                                        171         133        70
      Cash at bank and in hand                     3,967       1,666     4,191
                                                   4,138       1,799     4,261
      CREDITORS: amounts falling due 
      within one year                               (146)        (21)      (75)

      NET CURRENT ASSETS                           3,992       1,778     4,186

      TOTAL ASSETS LESS CURRENT
      LIABILITIES                                  4,462       6,423     4,593

      CAPITAL AND RESERVES
      Called up share capital       5              6,362       6,138     6,359
      Share premium                                4,532       1,529     4,520
      Profit and loss account                     (6,432)     (1,244)   (6,286)

      EQUITY SHAREHOLDERS' FUNDS                   4,462       6,423     4,593

MEDIA CONTENT PLC

RECONCILIATION OF MOVEMENTS IN CONSOLIDATED
SHAREHOLDERS' FUNDS
Six months ended 31 December 2000

                                                   At 31        At 31       At
                                                December     December  30 June
                                                    2000         1999     2000
                                             (unaudited)  (unaudited) (audited)
                                                   £000         £000     £000

      Net funds at 1 July                          4,593        5,147    5,147

      Loss for the financial year/period            (146)        (183)  (5,225)

      Shares issued in the year/period                15        1,459    4,671

      Net funds at 30 June                         4,462        6,423    4,593


MEDIA CONTENT PLC

NOTES TO THE ACCOUNTS
Six months ended 31 December 2000

1. ACCOUNTING POLICIES

The financial statements are prepared in accordance with applicable accounting,
standards.  The particular accounting policies adopted are described below.

Accounting convention

The financial statements are prepared under the historical cost convention.

Turnover

Turnover represents fees and expense reimbursements receivable by the company
net of any applicable VAT.

Goodwill and intangible fixed assets

For acquisitions of a business in accordance with the provisions of FRS 10
'Goodwill and Intangible Assets', purchased goodwill is capitalised in the year
in which it arises and amortised over its estimated useful life up to a maximum
of 20 years.

Foreign exchange

Transactions denominated in foreign currencies are translated into sterling at
the rates ruling at the dates of the transactions. Monetary assets and
liabilities denominated in foreign currencies at the balance sheet date
are translated at the rates ruling at that date. These translation differences
are dealt with in the profit and loss account.

2. ANALYSIS OF TURNOVER

All of the entity's operations derive from the provision of sports media advice
and investment. A geographical analysis of operations is given below:

                                                   At 31        At 31        At
                                                December     December   30 June
                                                    2000         1999      2000
                                             (unaudited)  (unaudited)  (audited)
                                                    £000         £000      £000

Geographical analysis of turnover by destination

North America                                        259           96      269

United Kingdom                                        31            -       30

Rest of the World                                    173            -       30


3. EXCEPTIONAL ITEMS

Amortisation of Goodwill

In the year ended 30 June 2000 the directors revised their estimate of goodwill
arising on consolidation and wrote off the full balance remaining in that year.

4. LOSS PER SHARE

Basic

The loss per share figure for the six months ended 31 December 2000 is based on
the loss for the period on ordinary activities after taxation of £146,000 (1999
Interim: £183,000; 1999/2000 final £5,225,289).

The weighted average number of shares used in the calculation of basic earnings
per share was 635,962,290 shares (1999 Interim: 582,798,913 shares; 1999/2000 :
607,491,600 shares.)


MEDIA CONTENT PLC

NOTES TO THE ACCOUNTS
Six months ended 31 December 2000

Diluted

The weighted average number of shares used in the calculation of diluted
earnings per share was 635,969,858 shares (1999 Interim: 582,798,913 shares;
1999/2000 final: 607,519,446). The number of shares reflects the share options
in existence at the respective dates.

5. CALLED UP SHARE CAPITAL

On 30 September 2000 the company issued 98,685 ordinary shares of lp each at
7.4p. 

On 31 December 2000 the company issued 190,297 ordinary shares of lp each at    
4.25p.

ENQUIRIES:

Jean Paul de la Fuente     020 8960 0422
Media Content PLC

Nick Oborne                0207 601 1000
Square Mile Communications