FNET Future

RNS Number:5326S
Future Network PLC
16 October 2000


RESULT OF FUTURE FRANCE

ACCOUNTING INVESTIGATION



The Board of The Future Network plc (LSE: FNET) announces the result of its
investigation, with Deloitte & Touche, into the accounting irregularity
previously reported at its French subsidiary, Future France SA.  The result
confirms that sales and operating profits have been overstated by FF45million
(#4.2m) since 1998.  The impact of this amount on Group revenues and operating
profit over the affected financial periods is shown below:


Year to 31 Dec 1998    Year to 31 Dec 1999       Six months to June 2000
FF20m (#1.9m)          FF13m (#1.2m)             FF12m (#1.1m)


The Directors note that this is more than the earlier estimate of "in the
region of FF35mm" but are satisfied that the problem is now fully accounted
for.



The problem was flawed local bookkeeping in the recording of magazine
newstrade sales and in the estimates of the reserves against future returns.
This resulted in sales figures and debtor balances being overstated.  Since
this problem was one of bookkeeping there has - as previously stated - been no
impact on cash.

For more information:


The Future Network plc
Greg Ingham, Chief Executive                   01225 442244
Ian Linkins, Finance Director                  01225 442244

Hogarth Partnership
James Longfield                                0171 357 9477

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