Sports Internet Grp

Results - Period to 31 August 1999

Sports Internet Group PLC
21 December 1999

                                                               
                                  
                      SPORTS INTERNET GROUP PLC
                 ('SPORTS INTERNET' OR 'THE GROUP')
                                  
              Results for the period to 31 August 1999

Sports  Internet,  one of Europe's leading Internet  sports  content,
statistics and betting groups, announces results for the period to 31
August  1999.   These are the first results published  by  the  Group
since  its  flotation on the Alternative Investment Market  in  March
1999.

HIGHLIGHTS

*     Successful flotation in March 1999 to raise an initial  sum  of
      £1.95 million

*     £29.85 million acquisition of Planetfootball.com Limited in May
      1999

*     £3.87 million acquisition of Opta Index Limited in June 1999

*     £19.7  million  acquisition of Surrey  Group  plc  completed  in
      October 1999

*     Rapid  growth  of sports content and traffic, with  21  official
      football  club  websites  currently  designed  and  managed   by
      Planetfootball.com

*     Impressive  management team assembled to develop  and  implement
      the  Group's strategy of creating a leading Internet sports  and
      gaming group

*     Optasoccer.com launched on 8 December 1999

*     Online agreement entered into with Yahoo! Inc.

Jeremy Fenn, Chief Executive of Sports Internet, said today:

'The  progress made by Sports Internet since its formation  has  been
spectacular.   We have quickly put together the components  necessary
to  build  a  highly successful Internet sports and gaming  business,
with  the  potential to derive revenue from an increasing  number  of
sources.  From  this  solid foundation, and  with  the  high  quality
management  team  that  we now have in place, we  will  continue  our
aggressive   development,  particularly  through  the  formation   of
relationships  with  major  players  in  the  Internet  industry,  as
demonstrated by our agreement with Yahoo!, announced today.'
                                                                     
                                                     
Enquiries:

Sports Internet Group plc
Jeremy Fenn, Chief Executive                 Tel: 01423 700 800

College Hill                                 Tel: 020 7457 2020
Archie Berens
                      SPORTS INTERNET GROUP PLC
                                  
              Results for the period to 31 August 1999
                                  
                        CHAIRMAN'S STATEMENT


Results

Sports Internet was floated on the Alternative Investment Market on 8
March  1999.   During the period under review, the Group  bought  two
companies,  namely, Planetfootball.com Limited ('Planetfootball')  in
May  and  Opta  Index Limited ('Opta') in June.  The  acquisition  of
Surrey  Group  Plc ('Surrey Group') was completed subsequent  to  the
period end in October.

The  results  for the period ended 31 August 1999 contain  only  four
months  of  trading  for  Planetfootball and  two  months  for  Opta.
Turnover  for  the period ended 31 August 1999 was £240,399,  with  a
loss  before  amortisation  of goodwill,  interest  and  taxation  of
£374,711.  After charging amortisation of goodwill of  £537,570,  the
operating  loss was £912,281 and the loss before and  after  tax  was
£822,281.    At  31  August  1999,  the  Group  had  net  assets   of
£37,808,248.


Review of Activities

The financial results for Sports Internet for the period obviously do
not  reflect  the enormous progress that has been made in  developing
the  Group's  business, which was clearly set out in the strategy  at
flotation.   We  have  now  successfully  laid  the  foundations  for
developing a leading sports Internet group through the combination of
sports   content  (Planetfootball),  statistics  (Opta)  and  betting
(Surrey Group).

On  7  May  1999, we announced the acquisition of Planetfootball  for
£29.85 million.  The consideration was satisfied by the issue  of  15
million  new  ordinary  shares of 5p each  in  Sports  Internet.   An
additional cash consideration of £675,000 was paid in satisfaction of
outstanding loans to Planetfootball.

Established in 1996, Planetfootball designs, builds and maintains the
official branded websites for a portfolio of 21 football clubs; 12 in
the FA Carling Premier League and 9 in the Nationwide Football League
First  Division.  It also provides official websites for the Scottish
Premier League, League Managers Association, Wasps Rugby Club and the
Professional  Darts  Corporation.  It is  at  present  generating  in
excess of 20 million page impressions from more than 1 million unique
individual visitors that visit its portfolio of websites each  month.
Planetfootball  currently  generates revenues  from  sponsorship  and
advertising, e-commerce, audio subscription and on-line auctions.

On  29  June  1999, we announced the acquisition of Opta, the  sports
media  and  information company.  The consideration was satisfied  by
the payment of £500,000 in cash, together with the issue of 1 million
ordinary shares of 5p each in Sports Internet, which valued  Opta  at
£3.87  million.  In addition, Sports Internet agreed to guarantee  to
provide  £500,000 of working capital to Opta to include the repayment
of £120,000 of original seed capital.

Established  in  1996,  Opta  developed  an  index  to  analyse   the
performance  of  players  and teams within  the  FA  Premier  League.
Working  alongside  the FA Premier League, Opta devised  a  means  of
analysing the key elements of a football match in order to produce  a
comprehensive database of statistics for every game, team and  player
in  the  FA  Premier League.  Sky Sports first used  Opta's  analyses
during  the 1996/97 season.  As a result of this initial success,  at
the  start  of  the  1997/98 season, Opta was appointed  as  official
statistics provider to the FA Premier League and more recently to the
Nationwide Football League (Divisions 1, 2 and 3).

In  September 1999, and after the end of the financial period covered
by  this statement, Sports Internet announced a recommended offer for
Surrey Group for £19.7 million, the consideration being satisfied  by
the  issue  of 6.28 million new ordinary shares of 5p each in  Sports
Internet.   Surrey  Group's established bookmaking  brand  is  widely
recognised in the industry and it holds betting licences in both  the
UK  and  Alderney.   These licences allow the  Group  to  offer  both
onshore  and  offshore, tax paid or tax free bookmaking services  and
products  to  customers  around  the world  via  both  telephone  and
Internet platforms.


Management

I  am  pleased to report that since my appointment as Chairman on  12
April  1999,  the  Board  of Sports Internet has  been  significantly
strengthened.   Peter Wilkinson, as the founder and sole  shareholder
of  Planetfootball, joined the Board as Executive Deputy Chairman  in
May.   Jeremy  Fenn  joined the Board in August as  Chief  Executive,
having spent the last three years with Leeds Sporting plc.

The  operational management of the Group has also been enhanced  with
the   appointment   of   Richard  James  as  Managing   Director   of
Planetfootball  and  Michael Norris as Managing  Director  of  Surrey
Racing.  Suzy Russell, who has run Opta since its inception in  1995,
has  remained as Managing Director following its acquisition  by  the
Group.

As  a  result  of the Group's development, the Board has  decided  to
centralise  Group  finance and administration in the  Harrogate  head
office.  Having made a significant contribution to the development of
the  Group,  Rodger Sargent, the Finance Director, has  informed  the
Board that he feels this is an appropriate time for him to move on to
pursue  other  interests and will resign from the Board  with  effect
from 31 December 1999.  The Board is delighted to announce that Nigel
Myers has been appointed as Group Finance Director with effect from 1
January  2000.  Nigel joins the Group from Century Inns plc where  he
has spent the last two years as Financial Controller.



Prospects

I  am delighted to report that the first stage of development of  the
business  in  line  with  the Group's stated strategy  has  now  been
completed  with  the key elements of sports content,  statistics  and
betting  having  been put in place.  The objective  during  the  next
period is to combine these elements into an integrated Internet based
platform which is capable of delivering multiple revenue streams.

The  initial  stage in achieving this objective was the launch  on  8
December  1999  of  a  brand new website called optasoccer.com  which
combines football news and statistics. The Board is also delighted to
announce  that  Sports Internet has today entered into  an  agreement
with  Yahoo! Inc. to supply statistics for Yahoo! Sports' new fantasy
football  game,  which was launched on 17 December 1999.   This  deal
will  include  a  direct link from the player game  pages  on  Yahoo!
Sports   to   optasoccer.com  for  related  player   statistics   and
information.  The  traffic that we expect to  be  directed  will,  we
believe,  greatly  accelerate optasoccer.com's establishment  as  the
number  one  generic  football  website.   A  separate  announcement,
containing further details of this agreement, has been issued today.

Subsequent  to the acquisition of Surrey Group, the Board  instituted
an  investment  programme to develop a highly sophisticated  Internet
betting  platform  that would combine with the  Group's  content  and
statistics.   The  programme is on schedule and will  result  in  the
Group's  Internet betting product being launched during first quarter
2000.

Whilst  the  Board  is  concentrating on  the  consolidation  of  the
existing  businesses,  it will  continue to pursue  acquisitions  and
joint  venture possibilities where it believes they will enhance  the
development of the Group's business in line with its stated strategy.
The  Board  looks  forward  to  the second  half  of  the  year  with
tremendous confidence.

                                                         Keith Harris
                                                             Chairman
                                                     

SPORTS INTERNET GROUP PLC

CONSOLIDATED PROFIT AND LOSS ACCOUNT

For the period ended 31 AUGUST 1999



                              Note            Period ended 31
                                                       August
                                                         1999
                                                    Unaudited
                                                            £
Turnover                                              240,399
Cost of sales                                         (97,326)
                                          
Gross profit                                          143,073
Administrative expenses                            (1,055,354)
                                          
Operating loss                  7                    (912,281)
                                          
Interest receivable and                                90,000
similar income
                                          
Loss on ordinary activities               
before and after taxation                            (822,281)
                                          
                                          
                                          
Basic and diluted loss per      5                       (4.93)p
share
                                          
                                          

All transactions arise from acquired operations.

There were no recognised gains or losses other than those recognised
in the result for the period.




SPORTS INTERNET GROUP PLC

CONSOLIDATED BALANCE SHEET AS AT 31 AUGUST 1999




                                           Note            As at 31
                                                             August
                                                               1999
                                                          Unaudited
                                                                  £
Fixed assets                                    
Intangible assets                     1                  33,609,698
Tangible assets                       2                     311,960
                                                
                                                         33,921,658
Current assets                                  
Debtors                                                     348,705
Cash at bank and in hand                                  4,016,563
                                                
                                                          4,365,268
                                                
Creditors: amounts falling due                             (478,678)
within one year
                                                
Net current assets                                        3,886,590
                                                
Total assets less current                                37,808,248
liabilities
                                                
                                                
Capital and reserves                            
Called up share capital               3                   1,386,667
Share premium account                 4                  37,243,862
Profit and loss account               4                    (822,281)
                                                
Equity shareholders' funds                               37,808,248
                                                




SPORTS INTERNET GROUP PLC

CONSOLIDATED CASH FLOW STATEMENT

For the period ended 31 AUGUST 1999



                                   Note                  Period ended 31
                                                                  August
                                                                    1999
                                                               Unaudited
                                             £                         £
                                                       
Net cash outflow from operating                        
activities                          6                       (308,348)
                                                       
Return on investments and                              
servicing of finance                    
Interest received                          22,326
Net cash inflow from investments                       
and servicing of finance                                       22,326
                                                       
Acquisitions and disposals                             
Purchase of subsidiary                    (500,000)      
undertakings
Net cash acquired with subsidiary                      
undertakings                                10,815
Repayment of loans on acquisition                      
of subsidiary undertakings                (795,137)
                                                       
Net cash outflow from                                  
acquisitions and disposals                                 (1,284,322)
                                                         
Capital expenditure and financial                      
investment
Purchase of tangible fixed assets          (88,080)       
                                                       
Net cash outflow from capital                           
expenditure and financial                                     (88,080)
investment
                                                       
Financing                                              
Issue of ordinary share capital          6,693,333      
Share issue expenses                    (1,018,346)    
                                                       
Net cash inflow from financing                              5,674,987
                                                       
Increase in cash in the period                              4,016,563
                                                       

SPORTS INTERNET GROUP PLC

NOTES TO THE INTERIM FINANCIAL STATEMENTS

For the period ended 31 AUGUST 1999


1.   Intangible fixed assets

                                                     Purchased
                                                      goodwill
                                                     Unaudited
                                                             £
Cost                                                
At 8 February 1999                                  -
Additions                                           34,147,268
                                                    
At 31 August 1999                                   34,147,268
                                                    
Amortisation                                        
At 8 February 1999                                  -
Provided in the period                              537,570
At 31 August 1999                                   537,570
                                                    
Net book value                                      
At 31 August 1999                                   33,609,698
                                                    

2.   Tangible fixed assets

                                                Fixtures and
                                                    fittings
                                                   Unaudited
                                                           £
Cost                                                
At 8 February 1999                                  -
Additions                                           88,080
Acquisition of subsidiary undertakings              239,835
                                                    
At 31 August 1999                                   327,915
                                                    
Depreciation                                        
At 8 February 1999                                  -
Provided in the period                              15,955
                                                    
At 31 August 1999                                   15,955
                                                    
Net book value                                      
At 31 August 1999                                   311,960

SPORTS INTERNET GROUP PLC

NOTES TO THE INTERIM FINANCIAL STATEMENTS

For the period ended 31 AUGUST 1999



3.   Share capital

                                                          1999
                                                     Unaudited
                                                             £
Authorised                                           
37,000,000 ordinary shares of 5p each                1,850,000
                                                     
Allotted called up and fully paid                    
27,733,333 ordinary shares of 5p each                1,386,667
                                                     


4.   Share premium account and reserves

                                           Share                 
                                         premium       Profit and
                                         account     loss account
                                       Unaudited        Unaudited
                                               £                £
                                                                      
                                                                      
                                                       
At 8 February 1999                       -                        -
Retained loss for the period             -                 (822,281)
Premium on allotments during the period  38,531,666               -
Less: costs of share issues              (1,287,804)   
                                                                  -
At 31 August 1999                        37,243,862        (822,281)
                                         


5.   Loss per share

The  calculation of the basic loss per share is based on the loss for
the  period divided by the weighted average number of shares in issue
during   the   period,  being  16,663,415  shares.    Share   options
outstanding  at the period end do not have a dilutive effect  on  the
stated loss per share.






SPORTS INTERNET GROUP PLC

NOTES TO THE INTERIM FINANCIAL STATEMENTS

For the period ended 31 AUGUST 1999



6.   Net cash outflow from operating activities

                                                             1999
                                                        Unaudited
                                                                £
Operating loss                                           (912,281)
Depreciation                                               15,955
Amortisation                                              537,570
Increase in debtors                                       (90,034)
Increase in creditors                                     140,442
                                 
Net cash outflow from operating  
activities                                               (308,348)
                                 

7.   Operating loss

The  operating loss is stated after charging amortisation of goodwill
of £537,570.

8.   Post balance sheet event

In  October 1999 the company acquired a controlling interest in Surrey  Group
plc via a share for share  exchange.   Surrey Group plc's principal  activity is
that of gambling and  betting which is undertaken  primarily  through telephone
betting  and  a  chain  of  licensed betting offices.

9.   Interim report

An interim report will be sent to all shareholders by January 2000.  Copies
will be available from the Company's  registered office,  9th Floor,  Winchester
House,  259 Old Marylebone  Road, London NW1 5RA.

10.  New Director

Nigel  Myers is aged 33.  Over the five years preceding the  date  of
this  announcement, he has held no directorships, nor has he  been  a
partner  in any partnerships.  No further details regarding Mr  Myers
are required for disclosure pursuant to 16.8(e) of the AIM Rules.