Re Directorate

Cube8.com PLC
1 June 2001


Cube8.com plc ('Cube8' or 'the Company')
Resignation of financial director





Cube8.com plc, the AIM-listed investment company, today announces the
departure of Finance Director John Winfield, as well as staff cuts within the
company.



John Winfield, who joined the company during its flotation in February 2000,
elected to resign both as Finance Director and as a member of the Cube8 board
as part of a cost-cutting programme. Further headcount reductions have also
been made in the finance and administration areas.



Winfield said: 'The members of the board, including myself, discussed reducing
the size of the executive board and the general headcount to achieve a
much-reduced monthly overhead. For personal reasons, I wished to resign my
position, so this was an opportunity for us to make some changes.'



The net monthly burn rate for Cube8 Company is now forecast at £45,000
following the introduction of a new budget, which includes cost cuts in other
areas of the business. This has fallen from budgeted net monthly cost of
around £90,000 at the end of December 2000.



Tim Dean-Smith, Chairman, said: 'John's departure is amicable and is not a
sign of operational difficulties. Based on our revised projections, Cube8 can
continue to invest in its portfolio companies and cover its running costs for
at least 2 1/2 years.



'This follows my promise in the Annual Report and at the AGM that we were
actively looking to extend the life of the business by reducing costs, not
making new significant cash investments and therefore giving our portfolio the
time it needs to mature.'



Lucy Beverley, Group Accountant, has been promoted to Financial Director with
immediate effect. She will not take a seat on the board in the immediate
future.



The Cube8 board now consists of the following members:

Tim Dean-Smith - Chairman
Brian Hindson  -Chief executive
Steve Masters  - Director of marketing and communications
David Dobson - Non-executive director
Tarick Kreimeia - Non-executive director



For more information please contact Paul Munford at [e-mail] or 020
7749 2787



NOTES TO EDITORS:



Cube8 is a Technology, Media and Telecoms (TMT) investment company that
provides financial and intellectual capital to accelerate start-up and
early-stage businesses.



The Company concentrates its business in three key areas -consultancy and
agency services, investments and fundraising. The Company's shares commenced
trading on the Alternative Investment Market of the London Stock Exchange
(AIM) on 28 February 2000.