Statement re. Suspension

IBNet PLC
26 August 2003


                             IBNet plc (the 'Company')


                                    Approach


The Company notices the recent increase in its share price and confirms that it
is in advanced negotiations to make an acquisition which will amount to a
reverse takeover under the AIM Rules. The Company's shares have been suspended
from trading, at the Company's request, pending publication of a circular to
shareholders setting out the proposals relating to the potential acquisition.



Enquiries:      Toby Smallpeice (Chief Executive Officer)          020 8987 6700




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