£500,000 Invested in Residential Property Portal

NS Number:8475B NewMedia SPARK PLC 2 December 1999 NewMedia SPARK ('SPARK') invests £500,000 in residential property portal SPARK announces that it has invested £500,000 as part of a £3m private fund raising by easier! plc, which intends to launch a new on-line residential property portal early next year. easier! plc intends to seek a flotation during the first half of next year, and SPARK's investment is in the form of 'A' preference shares which will convert into ordinary shares with a value of £1.75m at the listing price. Commenting on the investment Michael Whitaker, CEO of SPARK, stated: 'We are pleased to have been able to secure an investment in this round of fund raising by easier! plc, which was heavily over-subscribed. There are a large number of residential property sites, but easier! has a unique revenue and business model which has the potential to make a major impact in the market. The founder management of the company is also highly experienced, having previously held senior positions at Misys, and we believe that easier! has the potential to become the UK market leader in this area. Due to the unique nature of the business model, further details of the manner in which easier! intends to operate are commercially confidential at this time.' ____________________________________________________________ For further information please contact: NewMedia SPARK 0171 887 4510 Michael Whitaker 0468-555944 Buchannan Communications Tim Anderson / Lisa Baderoon 0171-466-5000 Peel Hunt & Company David Davies 0171-418-8900
UK 100

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