Directors' report

The directors submit their Annual Report and Accounts for the year ended

30 June 2001.

Principal activities

The principal activities of the Group during the year were the provision of

and review of the

domain name management services and web hosting and related

business

services.

A review of the business and future developments has been given in the

Chairman's Statement and the Operating and Financial Review on pages 

3 to 7.

Results and

The consolidated loss for the year, after taxation amounted to

dividend

 21,642,000 (2000   loss of  4,605,400).  The directors do not

recommend the payment of an ordinary dividend for the year (2000  

 nil) which leaves a loss of  21,642,000 to be transferred from reserves

(2000:  4,605,400 transferred from reserves).

Directors' interests

The directors of the Company who served during the year to 30 June

2001 are shown below, together with their beneficial interests in the

shares of the Company on 30 June 2001 and 1 July 2000 or date of

appointment.

At

1 July 2000

At

or date of

30 June

appointment

2001

Directors

No.

No.

J Parcell 

(appointed 1 March 2001)

J M Robinson

1,944,350

1,944,350

K Young

2,261,470

2,268,970

T M Ashley

1,866,380

1,866,380

I A Pope

(resigned 12 September 2001)

2,495,944

2,495,944

K W Teare

(resigned 12 September 2001)

259,994

259,994

R Madden

P Owens

(appointed 4 May 2001)

G Wicks

(appointed 12 September 2001)

There have been no changes in directors' interests and options between

30 June 2001 and the date of approval of the financial statements.

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