FNET Future

RNS Number:7722C
Future Network PLC
27 April 2001


27 April 2001


   THE FUTURE NETWORK ANNOUNCES CLOSURE OF GERMAN OPERATIONS AND CLOSURE OF
                      EUROPEAN EDITIONS OF BUSINESS 2.0

The Future Network plc (LSE: FNET) today announces the closure of the loss
making operation Future Verlag GmbH in Germany. In addition, Future is closing
the European editions of its business magazine Business2.0.

For the financial year ended 31 December 2000, Future Verlag generated losses
of DM 20.5m (#6.4m) on revenues of DM 22.5m (#7m). Future Verlag is expected
to make losses of DM 9.4m (#2.9m) for the current financial year, prior to
closure, on revenues for the period around DM 7.7m (#2.5m). In addition t

he closure of Future Verlag after disposal of certain assets is expected to
result in a one-off net charge of DM 2.5m (#0.8m) in the current financial
year.

IDG has agreed to fulfil Future's existing subscription obligations for PC
Player, Future Verlag's principal PC games magazine, by providing its own
title Gamestar to the subscribers of PC Player.

Future Network also announces that it plans to close the German, Italian and
UK editions of its business magazine Business2.0. The downturn in the
advertising market in the business sector has adversely impacted Business2.0
in Europe. Costs of closing the UK and Italian editions of Business2.0 are
estimated to be about #1m.

As announced on 16 February 2001, Future Network has retained Morgan Stanley
Dean Witter to explore options for the next stage of development of the US
edition of Business2.0, including possible sale or joint venture. This review
is continuing but it is now clear that, whatever the outcome of the review,
the European editions will need to be closed.

The US edition of Business2.0 is not affected by the closure of the European
editions.


Commenting on the closures, Greg Ingham, Future Network's Chief Executive,
said:


"We naturally regret having to make these closures. But they reflect our
continuing determination to

re-focus the business around core, profitable, business areas in those markets
where we enjoy a leading position. During the tough market conditions being
experienced, we intend to reduce risk in the business by concentrating on
those profitable business areas."



For further information:


The Future Network                                        01225 442244

Greg Ingham, Chief Executive

Colin Morrison, Chief Operating Officer


Hogarth Partnership                                       0207 357 9477

James Longfield/Georgina Briscoe

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