Further £250,000 Invested in Crocus.co.uk

NewMedia SPARK PLC 20 April 2000 NewMedia SPARK invests further £250,000 in £2.35m second round funding for Crocus.co.uk at significant uplift in valuation NewMedia SPARK plc, ('SPARK') the AIM-quoted internet and technology investment company, today announces a further investment of £250,000 in Crocus.co.uk Ltd, the gardening e- tailer, in its second-round financing. The investment forms part of a £2.35m second round financing and indicates a significant increase in the Company's valuation since its first fundraising in December 1999. In December, SPARK led a seed round, with an investment of £750,000 along with a consortium including Lord Rothschild, which invested a total of £1.5m in the Company. Crocus.co.uk launched its gardening e-commerce and community site on April 2nd of this year. Mike Whitaker, chief executive of SPARK, said: 'We are very pleased to be participating in a further financing round which indicates a significantly higher valuation than our first funding. We have been impressed by the speed of the company's growth and the team the management has assembled. We are confident that Crocus is fast establishing itself as the UK's leading on-line gardening resource.' Mark Fane, chief executive of Crocus.co.uk, said: 'We are delighted that NewMedia SPARK participated in this second round financing which gives the Company a sound financial basis on which to develop. NewMedia SPARK have continued to add significant value through their hands-on management approach and their contact base and will continue to help the business develop rapidly over the next twelve months.' ____________________________________________________________ For further information, please contact: NewMedia SPARK Michael Whitaker 020 7887 4510 Crocus.co.uk Ltd Mark Fane 01344 628081 Buchanan Communications Lisa Baderoon 020 7466 5000
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