Interim Results

Deal Group Media PLC
16 December 2003

Press Release                                                   16 December 2003

                              Deal Group Media plc

           Interim Results for the six months ended 30 September 2003

Deal Group Media plc, formerly IBNet plc, a provider of performance based online
marketing focusing on maximising the return on clients' marketing spend, reports
its results for the six months to 30 September 2003.

Highlights

•   Turnover of former company, IBNet plc £878,000 (2002: £933,000)
•   Six month pre-tax loss £646,000 (2002: £668,000)

Subsequent to six month period:
•   Reverse takeover of The Deal Group Limited and change of name from IBNet plc 
    to Deal Group Media plc
•   £1.2 million (net of expenses) raised to fund expansion
•   Action plan being implemented to deliver anticipated synergistic benefits
•   Cross selling opportunities starting to filter through


Adrian Moss, CEO of Deal Group Media plc, said: 'I am pleased to report that the
reorganisation of Deal Group Media plc is going well, following the reverse
takeover of The Deal Group Limited in October of this year.  The enlarged group
is set to benefit from the expected synergies and product cross over.



'Prior to the reverse takeover, as the CEO of The Deal Group Limited, and as
reported in the prospectus dated 24 September 2003, we experienced strong growth
in 2003 and had posted a profit for the last two years.  I look forward to
reporting our progress in 2004 when we will begin the year as a fully integrated
business with all our services and products being marketed through the
dealgroupmedia brand.'


For further information, please contact:

Enquiries:
Deal Group Media plc
Adrian Moss / Adam Black                                   + 44 (0) 20 7691 1880
[e-mail]                              www.dealgroupmediaplc.com
[e-mail]


KBC Peel Hunt Ltd
Capel Irwin / Megan MacIntyre                              + 44 (0) 20 7418 8900
[e-mail]                                  www.kbcpeelhunt.com



Media enquiries:
Bankside Consultants Limited
Ariane Vacher / Julian Bosdet                          Tel: [phone]
[e-mail]                                      www.bankside.com




                              Chairman's Statement

During the six months ended 30 September 2003, the Company, formerly known as
IBNet plc, continued its business activities of Search Engine Marketing and
Internet Intelligence.  Subsequent to the period end, on 20th October 2003 the
Company acquired in a reverse takeover, The Deal Group Limited, a leader in
online marketing focusing on maximising the return on client marketing spend.
Simultaneously £1.2 million (net of expenses) was raised to fund working capital
and expansion.



Financial Results

The turnover for the six months to 30th September 2003 was £878,000 (2002:
£933,000).  There was an operating loss before exceptional items, goodwill
amortisation, depreciation and interest of £338,000 (2002: £304,000) and a loss
before tax of £646,000 (2002: £668,000).  Although the financial performance of
IBNet plc was encouraging, the Directors concluded that combining with a much
larger and profitable group, The Deal Group Limited, would provide the best
opportunity for the ongoing success of the Company.



The Review of Activities

The synergies of the two companies are already delivering cross selling
opportunities through an increased client base and will produce cost savings and
increased efficiencies.  In addition, the Group is investing in its overseas
offices with considerable effort being dedicated to the two foreign sales
territories in Australia and Europe.



Group management has been restructured and aims to increase sales on all product
lines through a more complete offering to clients, the development of specific
product opportunities and a greater focus on delivering return on investment for
client marketing campaigns.  The product range has been reorganised and targets
five key areas of online marketing: media sales, online partnerships, search,
intelligence, and performance based advertising.  All services will be marketed
through the dealgroupmedia brand.




Prospects

Trading during the initial months of the two businesses as a combined entity is
in line with expectations and it is encouraging that cross selling opportunities
are already delivering new clients.  From January 2004 the Group expects to
continue to benefit from the new management structure, enhanced product offering
and new strategic focus.  We remain confident for 2004 and beyond.



The Group's financial year end has been changed to 31st December, commencing
with the next results announcement for the nine months ended 31st December 2003.



Sadly David Heynes, our Chairman, died on the 20th July 2003.  We miss him as a
businessman and a confidant.  At the board's request I accepted the position of
Chairman.



Following the acquisition, Toby Smallpeice, Richard Saul and Michael Bull have
resigned their Board positions and Adrian Moss, Keith Lassman, Dominic Trigg and
Nicola Iapino have been appointed to the Board.



We wish to thank all those who were involved with the acquisition and whose
efforts have helped to create the new Group.  We look forward to a successful
2004.


David Lees
Chairman

16 December 2003



Profit and loss account
for the period ended 30 September 2003
                                                             Six Months to    Six Months to       Year to
                                                               30-Sep-03        30-Sep-02        31-Mar-03
                                                     NOTES       £'000            £'000            £'000
                                                               Unaudited        Unaudited         Audited
TURNOVER
 - Continuing activities                                               878              245            1,881
 - Acquisition                                                           -              688                -
                                                                       878              933            1,881
COST OF SALES                                                        (393)            (310)            (580)

GROSS PROFIT                                                           485              623            1,301

EXPENSES
 - Administrative expenses                                           (823)          (1,041)          (1,673)
 - Other expenses                                                    (285)            (242)          (1,165)
                                                                   (1,108)          (1,283)          (2,837)

OPERATING LOSS                                                       (623)            (660)          (1,536)

NET INTEREST                                                          (23)              (8)             (48)

LOSS ON ORDINARY ACTIVITIES                                          (646)            (668)          (1,584)

TAXATION                                                               -                  -              179

NET LOSS AFTER TAXATION FOR PERIOD                                   (646)            (668)          (1,405)

BASIC AND FULLY DILUTED LOSS PER SHARE                 2              0.76             0.89             1.76



There were no other recognised gains or losses other than the loss for the
period.
All operations are continuing.

The accompanying accounting policies and notes form part of these financial
statements.


Balance sheet
as at 30 September 2003

                                                                 As at            As at            As at
                                                               30-Sep-03        30-Sep-02        31-Mar-03
                                                     NOTES       £'000            £'000            £'000
                                                               Unaudited        Unaudited         Audited
FIXED ASSETS
Investments                                                          1,317            1,979            1,545
Tangible fixed assets                                                   63              428              118
                                                                     1,380            2,407            1,663
CURRENT ASSETS
Current asset investments                                                -              252              107
Debtors recoverable within one year                                    245              284              268
Cash at bank and in hand                                                 -               39              104
                                                                       245              575              479

CURRENT LIABILITIES
Creditors:
 - Amounts falling due within one year                               (875)          (1,066)            (746)

Net current liabilities                                              (630)            (491)            (267)

Total assets less current liabilities                                  750            1,916            1,396

Creditors:

 - Amounts falling due after more than one year                      (736)            (485)            (736)
Provision for liabilities and charges                                (177)            (673)            (177)

                                                                     (163)              758              483

CAPITAL AND RESERVES
Called up share capital                                             14,067           13,938           14,067
Share premium account                                               14,704           14,371           14,704
Profit and loss account                                           (28,934)         (27,551)         (28,288)

Equity shareholders' (deficit) / funds                               (163)              758              483



Cash flow statement
for the six months ended 30 September 2003


                                                             Six months to    Six months to       Year to
                                                               30-Sep-03        30-Sep-02        31-Mar-03
                                                     NOTES       £'000            £'000            £'000
                                                               Unaudited        Unaudited         Audited


Net cash outflow from operating activities             3             (222)               89            (283)

Returns on investments and servicing of finance
Interest received                                                        -                7                8
Interest paid                                                         (23)             (15)             (56)
                                                                      (23)              (8)             (48)

Tax credit received                                                      -                -              185

Capital expenditure and financial investments
Purchase of tangible fixed assets                                      (2)             (85)            (105)
Sale / (purchase) of current asset investment                            -                -              450
                                                                       (2)             (85)              345

Net cash (outflow) / inflow before financing                         (247)              (4)              199

Management of liquid resources
Sale of short term Investments                                          84              205                -
                                                                        84              205                -

Financing
Issue of Ordinary Share Capital                                          -                -              125
Capital element of finance lease rentals                               (4)              (3)              (4)
Repayment of Loan Notes                                                  -            (198)            (253)
Expenses paid in connection with share issues                            -                -              (6)
New Loan notes and Loan Notes Issued                                     -              (4)                -
                                                                       (4)            (205)            (138)

(Decrease) / increase in cash                                        (167)              (4)               61




1.  BASIS OF PREPARATION

The interim financial statements have been prepared in accordance with
applicable United Kingdom accounting standards and under the historical cost
convention.  The principal accounting policies of the company have remained
unchanged from those set out in the company's annual report.  The comparative
figures shown are for the six-month period ended 30 September 2002 and the year
ended 31 March 2003.


2.  Loss Per Share

The calculation for the basic loss per share is based upon the loss attributable
to ordinary shareholders divided by the weighted average number of shares on
issue during the period.



Reconciliation of the loss and weighted average number of shares used in the
calculations are set out below:


                                                             Six Months to    Six Months to       Year to
                                                               30-Sep-03        30-Sep-02        31-Mar-03
                                                                 £'000            £'000            £'000
Loss on ordinary activities before tax                               (646)            (668)          (1,405)

Weighted average number of shares                               84,952,000       74,952,000       80,069,808

Amount of loss per share in pence                                     0.76             0.89             1.76


In view of the loss for the year there is no dilutive effect of the options in
issue at 31 March 2003.


3.  Net Cashflow from Operating Activities
                                                                 As at            As at            As at
                                                               30-Sep-03        30-Sep-02        31-Mar-03
                                                                 £'000            £'000            £'000
Operating loss                                                       (623)            (660)          (1,528)

Depreciation                                                            57              113              227
Fixed asset investment amortisation/impairment                         228              242              722
Loss on sale of fixed assets / current asset investment                 23                -              215
Decrease / (increase) in debtors                                        23              339              346
(Decrease) / increase in creditors                                      70               55            (265)

Net cash flow from operating activities                              (222)               89            (283)



4.  Copies of the Interim Statements

Copies of the interim statements are being sent to shareholders and are
available to the public from the company's registered office at 19 Cavendish
Square, London, W1A 2AW.  Copies of the results can also be viewed online at
www.dealgroupmediaplc.com.

                                    - Ends -


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